TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0432%/8h= −47.3% APRnext payment −$0.54 per $10,000 · paid last 24h −0.027%

Price spread now: Deribit against Kraken Futures−0.082%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$570.574% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.058%−$6 on $10k

Price spread, last 4 days (all we have)−0.014%−$1 · spread now −0.082%, 7d avg −0.040%

Together, before fees−0.072%−$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$13 a day on $10k at the current rate, and Deribit is 0.042% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.040%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.058% in total (about -3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1631	0.0173	pay 0.0022% / 1h	5m 18s	$1.3M	$2.3M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1613	−0.0259	pay 0.0032% / 1h	5m 18s	$407K	$72K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee DeribitbpOrdersPrice spread, now −0.082%Rate

Funding earned: −$90.65
Price spread: −0.082% → −0.040%: −$4.22
Slippage, 4 orders: −$40.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$152.23
Costs to cover: 0.574%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Deribit: live order book, 48 min ago.

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again

Leg	Half-spread	$10k	$100k	$1M	$5M
Buy Kraken Futures live order book, 3 min ago	4.63 bp	12.9 bp −$13	23.3 bp −$233	doesn't fit	doesn't fit
Sell Deribit live order book, 48 min ago	6.42 bp	9.9 bp −$10	19.9 bp −$199	doesn't fit	doesn't fit

TRUMP on 31 venues

lowest funding first. Swap a leg: a good short leg pays more funding and is priced higher.

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective TRUMP/USDC PERP	−0.1765%	1h	2.1490	−0.650%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0382%	1h	2.1605	−0.119%	$84	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0259%	1h	2.1613	−0.082%	$407K	$72K	10x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1601	−0.136%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0244%	8h	2.1617	−0.061%	$5K	$175	5x	as long as short
Binance TRUMPUSDT	−0.0155%	4h	2.1602	−0.133%	$61.1M	$246.3M	75x	as long as short
Extended TRUMP-USD	−0.0152%	1h	2.1599	−0.144%	$77K	$718K	25x	as long as short
Bybit TRUMPUSDT	−0.0141%	4h	2.1610	−0.096%	$30.8M	$50.6M	50x	as long as short
Gate TRUMP_USDT	−0.0102%	4h	2.1610	−0.096%	$7.9M	$52.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0069%	4h	2.1588	−0.196%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0064%	1h	2.1602	−0.133%	$955K	$977K	10x	as long as short
Variational Omni TRUMP	−0.0058%	4h	2.1621	−0.044%	$668K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1626	−0.021%	$27K	$512	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0002%	4h	2.1600	−0.142%	$5K	$199K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1625	−0.026%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0012%	4h	2.1626	−0.021%	$180K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1588	−0.198%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0066%	4h	2.1610	−0.096%	$27.7M	$179.4M	50x	as long as short
BloFin TRUMP-USDT	+0.0085%	4h	2.1610	−0.096%	$4.2M	$650K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1622	−0.040%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1611	−0.092%	$407K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1633	+0.008%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1600	−0.142%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1600	−0.142%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1600	−0.142%	$15.6M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1620	−0.049%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1630	−0.003%	$492K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1630	−0.005%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0173%	1h	2.1631	long leg	$1.3M	$2.3M	50x
Backpack TRUMP_USDC_PERP	+0.0197%	1h	2.1655	+0.112%	$384K	$402K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1630	−0.003%	$284K	$277K	50x	as long as short