Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC+0.0494%/8hnext payment +$0.62 per $10,000 · paid last 24h −0.014%

Price spread now: Pacifica against Kraken Futures+0.035%7-day average −0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$60as in the Price arb table

costs, in and out, $10k−$680.684% of the position

Long on Kraken Futures Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.335%+$34 on $10k

Price spread, last 3 days (all we have)−0.076%−$8 · spread now +0.035%, 7d avg −0.050%

Together, before fees+0.260%+ Points / potential airdropPacifica: Active · farm board+$26 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$15 a day on $10k at the current rate, and Pacifica is 0.085% dearer against Kraken Futures than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.050%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.335% in total (about 17.5% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.62 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	2.1504	−0.0394	get 0.0049% / 1h	21m 54s	$1.0M	$2.1M	50x
Short	Pacifica TRUMP	2.1511	0.0100	get 0.0013% / 1h	21m 54s	$185K	$65K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.035%Rate

Funding earned: $103.73
Price spread: +0.035% → −0.050%: $8.51
Slippage, 4 orders: −$50.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Pacifica: 4 bp × 2 orders: −$8
Net: $43.87
Costs to cover: 0.684%
Break-even: 4.0 days

Slippage from Kraken Futures: live order book, 1 min ago; Pacifica: live order book, 10 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	4.64 bp	20.8 bp −$21	29.6 bp −$296	doesn't fit	doesn't fit
Sell Pacifica live order book, 10 min ago	7.72 bp	17.7 bp −$18	doesn't fit	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	−0.1937%	1h	2.1380	−0.576%	$12K	$115K	12x	as long as short
Kraken Futures PF_TRUMPUSDlong	−0.0394%	1h	2.1504	long leg	$1.0M	$2.1M	50x
Lighter TRUMP	−0.0360%	1h	2.1474	−0.139%	$962K	$585K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1480	−0.109%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0109%	1h	2.1485	−0.088%	$77	$6K	5x	as long as short
dYdX TRUMP-USD	−0.0022%	1h	2.1510	+0.029%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1497	−0.032%	$403K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1500	−0.020%	$41K	—	150x	as long as short
MEXC TRUMP_USDC	+0.0018%	4h	2.1470	−0.157%	$472K	$135K	125x	as long as short
Paradex TRUMP-USD-PERP	+0.0028%	8h	2.1503	−0.004%	$5K	—	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0031%	4h	2.1467	−0.169%	$117K	$242K	20x	as long as short
Gate TRUMP_USDT	+0.0038%	4h	2.1490	−0.064%	$7.4M	$44.7M	75x	as long as short
Extended TRUMP-USD	+0.0056%	1h	2.1474	−0.138%	$74K	$472K	25x	as long as short
Binance TRUMPUSDT	+0.0059%	4h	2.1473	−0.143%	$61.6M	$209.3M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0088%	4h	2.1490	−0.064%	$3K	$249K	10x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1479	−0.114%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1498	−0.027%	$13.7M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1501	−0.012%	$432K	$824K	20x	as long as short
Pacifica TRUMPshort	+0.0100%	1h	2.1511	+0.035%	$185K	$65K	10x
Bybit TRUMPUSDT	+0.0100%	4h	2.1480	−0.111%	$30.0M	$40.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1470	−0.157%	$26.6M	$143.1M	50x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1490	−0.064%	$4.4M	$9.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1490	−0.064%	$15.2M	$19.9M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1504	+0.001%	$254K	$265K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1425	−0.367%	$666K	$231K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1540	+0.168%	$191K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1530	+0.122%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1510	+0.029%	$499K	$1.6M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0228% / S −0.0259%	1h	2.1494	−0.044%	$11K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0237%	4h	2.1510	+0.029%	$4.2M	$474K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0280%	1h	2.1570	+0.308%	$277K	$397K	50x	as long as short