Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0237%/8h= −26.0% APRpaid last 24h −0.030%

Price spread now: edgeX against Kraken Futures−0.403%76s7-day average −0.085% · you buy dearer than you sell

Net, funding: paid 7d − costs−$72as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$730.733% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.013%+$1 on $10k

Price spread, last 4 days (all we have)+0.360%+$36 · spread now −0.403%, 7d avg −0.085%

Together, before fees+0.373%+ Points / potential airdropedgeX: Active · farm board+$37 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and edgeX is 0.318% cheaper against Kraken Futures than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.085%). Swap the legs. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.013% in total (about 0.7% a year). A funding rate is set anew for every payment. 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	2.1693	0.0120	pay 0.0015% / 1h	20m 07s	$1.3M	$2.2M	50x
Short	edgeX TRUMPUSDC	2.1605	−0.0117	pay 0.0059% / 4h	3h 20m	$105K	$253K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.403%Rate

Funding earned: −$49.82
Price spread: −0.403% → −0.085%: −$31.77
Slippage, 4 orders: −$54.33
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$154.92
Costs to cover: 0.733%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; edgeX: live order book, 12 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	4.61 bp	21.4 bp −$21	34.6 bp −$346	doesn't fit	doesn't fit
Sell edgeX live order book, 12 min ago	7.01 bp	14.7 bp −$15	40.5 bp −$405	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	−0.1829%	1h	2.1350	−1.579%	$12K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0317%	4h	2.1682	−0.049%	$673K	$419K	—	as long as short
Bybit TRUMPUSDT	−0.0303%	4h	2.1650	−0.196%	$31.2M	$51.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0259%	1h	2.1665	−0.127%	$70	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0248%	4h	2.1650	−0.196%	$27.1M	$183.1M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1647	−0.211%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0225%	4h	2.1670	−0.104%	$63.3M	$247.8M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1655	−0.174%	$74K	$492K	25x	as long as short
Lighter TRUMP	−0.0216%	1h	2.1659	−0.155%	$947K	$993K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0165%	1h	2.1673	−0.090%	$392K	$76K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1640	−0.242%	$144K	$513K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0130%	8h	2.1671	−0.101%	$5K	$175	5x	as long as short
edgeX TRUMPUSDCshort	−0.0117%	4h	2.1605	−0.403%	$105K	$253K	20x
Gate TRUMP_USDT	−0.0100%	4h	2.1670	−0.104%	$7.8M	$50.5M	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0088%	4h	2.1670	−0.104%	$5K	$304K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0040%	4h	2.1670	−0.104%	$4.2M	$10.6M	50x	as long as short
dYdX TRUMP-USD	−0.0015%	1h	2.1690	−0.013%	$26K	$2K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1675	−0.081%	$41K	—	150x	as long as short
Bitget TRUMPUSDT	+0.0012%	4h	2.1660	−0.150%	$15.4M	$26.3M	75x	as long as short
BloFin TRUMP-USDT	+0.0014%	4h	2.1710	+0.080%	$4.3M	$693K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1652	−0.186%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0074%	4h	2.1660	−0.150%	$403K	$150K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1681	−0.053%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1671	−0.101%	$412K	$679K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1678	−0.067%	$186K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1650	−0.196%	$178K	$4.2M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1700	+0.034%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1670	−0.104%	$501K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0120%	1h	2.1693	long leg	$1.3M	$2.2M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0170% / S −0.0143%	1h	2.1669	−0.108%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0379%	1h	2.1691	−0.007%	$384K	$420K	10x	as long as short