Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0414%/8h= −45.4% APRpaid last 24h +0.018%

Price spread now: HTX against Kraken Futures−0.041%7-day average +0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$820.819% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.305%+$30 on $10k

Price spread, last 3 days (all we have)−0.007%−$1 · spread now −0.041%, 7d avg +0.022%

Together, before fees+0.298%+$30 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and HTX is 0.062% cheaper against Kraken Futures than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of +0.022%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.305%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1949	0.0514	pay 0.0064% / 1h	14m 27s	$1.3M	$2.3M	50x
Short	HTX TRUMP-USDT	2.1940	0.0100	get 0.0050% / 4h	2h 14m	$556K	$2.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.041%Rate

Funding earned: −$87.02
Price spread: −0.041% → +0.022%: −$6.23
Slippage, 4 orders: −$59.88
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$175.13
Costs to cover: 0.819%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; HTX: live order book, 4 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, 4 min ago	4.54 bp	16.8 bp −$17	27.8 bp −$278	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	9.07 bp	24.0 bp −$24	42.2 bp −$422	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1890	−0.269%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1931	−0.081%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0068%	4h	2.1930	−0.086%	$7.7M	$49.6M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1946	−0.014%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1929	−0.091%	$413K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1945	−0.016%	$43K	—	150x	as long as short
Lighter TRUMP	+0.0048%	1h	2.1919	−0.136%	$975K	$792K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1945	−0.018%	$107K	$263K	20x	as long as short
SoDEX TRUMP-USD	+0.0067%	1h	2.1925	−0.109%	$77	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0070%	8h	2.1946	−0.013%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1920	−0.132%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1956	+0.032%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1931	−0.083%	$434K	$859K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1935	−0.062%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1932	−0.077%	$63.7M	$236.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1920	−0.132%	$31.5M	$48.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1930	−0.086%	$28.6M	$171.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1920	−0.132%	$436K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1940	−0.041%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1940	−0.041%	$15.7M	$24.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1871	−0.355%	$689K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1996	+0.216%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1950	+0.005%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1940	−0.041%	$556K	$2.0M	50x
Extended TRUMP-USD	+0.0104%	1h	2.1920	−0.134%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1915	−0.155%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1942	−0.034%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0264%	1h	2.1932	−0.077%	$257K	$322K	10x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0514%	1h	2.1949	long leg	$1.3M	$2.3M	50x
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.1880	−0.314%	$284K	$303K	50x	as long as short