Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0095%/8h= −10.4% APRpaid last 24h −0.018%

Price spread now: Orderly against Kraken Futures−0.146%7-day average −0.091% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 4 days (all we have)+0.065%+$7 · spread now −0.146%, 7d avg −0.091%

Together, before fees+0.143%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Orderly is 0.054% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.091%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.077%, 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	2.1632	0.0015	pay 0.0002% / 1h	1m 48s	$1.3M	$2.0M	50x
Short	Orderly PERP_TRUMP_USDC	2.1600	−0.0080	pay 0.0040% / 4h	2h 01m	$5K	$308K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.146%Rate

Funding earned: −$20
Price spread: −0.146% → −0.091%: −$5.45
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$41.45
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 5 min ago; Orderly: no order-book sample. Net counts fees only.

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, 5 min ago	4.62 bp	13.7 bp −$14	23.4 bp −$234	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TRUMP on 32 exchanges

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	−0.1841%	1h	2.1600	−0.146%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0357%	4h	2.1610	−0.100%	$670K	$402K	—	as long as short
Bybit TRUMPUSDT	−0.0325%	4h	2.1590	−0.192%	$31.4M	$48.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0324%	4h	2.1590	−0.192%	$27.4M	$175.0M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0305%	1h	2.1605	−0.123%	$388K	$80K	10x	as long as short
Binance TRUMPUSDT	−0.0304%	4h	2.1590	−0.192%	$63.4M	$239.3M	75x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1578	−0.247%	$75K	$496K	25x	as long as short
SoDEX TRUMP-USD	−0.0286%	1h	2.1599	−0.150%	$71	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1600	−0.147%	$5	—	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1610	−0.100%	$132K	$519K	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0228%	4h	2.1600	−0.146%	$7.8M	$48.7M	75x	as long as short
Lighter TRUMP	−0.0200%	1h	2.1599	−0.150%	$931K	$982K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0185%	8h	2.1622	−0.046%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0150%	4h	2.1642	+0.049%	$106K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0126%	4h	2.1590	−0.192%	$4.3M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0122%	4h	2.1580	−0.238%	$393K	$152K	125x	as long as short
Orderly PERP_TRUMP_USDCshort	−0.0080%	4h	2.1600	−0.146%	$5K	$308K	10x
BloFin TRUMP-USDT	−0.0063%	4h	2.1680	+0.224%	$4.3M	$679K	75x	as long as short
Bitget TRUMPUSDT	−0.0014%	4h	2.1600	−0.146%	$15.5M	$25.3M	75x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1635	+0.017%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1595	−0.169%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1613	−0.084%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0015%	1h	2.1632	long leg	$1.3M	$2.0M	50x
GRVT TRUMP_USDT_Perp	+0.0048%	4h	2.1624	−0.036%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1624	−0.035%	$13.7M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1600	−0.146%	$407K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1625	−0.031%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1630	−0.007%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1630	−0.007%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1590	−0.192%	$128K	$314K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0192% / S −0.0188%	1h	2.1617	−0.067%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0265%	1h	2.1628	−0.016%	$383K	$401K	10x	as long as short