Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0674%/8h= −73.8% APRpaid last 24h +0.018%

Price spread now: Gate against Kraken Futures−0.058%7-day average −0.069% · you buy dearer than you sell

Net, funding: paid 7d − costs−$39as in the Funding arb table

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

costs, in and out, $10k−$630.633% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 3 days (all we have)−0.041%−$4 · spread now −0.058%, 7d avg −0.069%

Together, before fees+0.201%+$20 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.069%, so right now this pair is about funding alone: −$20 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.242%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.242% in total (about 12.6% 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	2.2263	0.0774	pay 0.0097% / 1h	23m 01s	$1.3M	$2.5M	50x
Short	Gate TRUMP_USDT	2.2250	0.0100	get 0.0050% / 4h	3h 23m	$7.7M	$47.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.058%Rate

Funding earned: −$141.54
Price spread: −0.058% → −0.069%: $1.13
Slippage, 4 orders: −$38.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$203.66
Costs to cover: 0.633%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Gate: live order book, 6 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, 1 min ago	4.49 bp	20.8 bp −$21	29.0 bp −$290	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.27 bp	15.2 bp −$15	33.3 bp −$333	69.9 bp −$6,990	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	−0.1608%	1h	2.1910	−1.585%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2222	−0.186%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2209	−0.240%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2234	−0.130%	$417K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2235	−0.123%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2107	−0.699%	$120K	$249K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2232	−0.139%	$987K	$777K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2230	−0.148%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2214	−0.221%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2243	−0.088%	$463K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2209	−0.242%	$191K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2232	−0.139%	$63.6M	$222.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2250	−0.058%	$31.2M	$44.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2250	−0.058%	$27.7M	$156.0M	50x	as long as short
Gate TRUMP_USDTshort	+0.0100%	4h	2.2250	−0.058%	$7.7M	$47.4M	75x
MEXC TRUMP_USDC	+0.0100%	4h	2.2240	−0.103%	$482K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2270	+0.032%	$4.5M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2240	−0.103%	$16.2M	$22.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.726%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2167	−0.433%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2250	−0.058%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2235	−0.126%	$77	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.122%	$563K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2220	−0.192%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2218	−0.200%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0165%	1h	2.2287	+0.108%	$14.4M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2237	−0.117%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2240	−0.103%	$4.2M	$643K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0476%	1h	2.2272	+0.041%	$283K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2280	+0.077%	$290K	$277K	50x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0774%	1h	2.2263	long leg	$1.3M	$2.5M	50x