Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0404%/8h= +44.2% APRpaid last 24h +0.087%

Price spread now: Coinbase International against KuCoin−0.825%7-day average +0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$66as in the Funding arb table

Net, price: spread back to 7d avg − costs−$175as in the Price arb table

costs, in and out, $10k−$850.850% of the position

Long on KuCoin Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.191%+$19 on $10k

Price spread, last 4 days (all we have)+0.635%+$63 · spread now −0.825%, 7d avg +0.071%

Together, before fees+0.825%+$83 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.895% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.825% now, against its 7-day average of +0.071%). If the spread goes back, that is −$90 on $10k: about 7.4 days of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.191% in total) that is about 33 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.191% in total (about 9.9% 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	KuCoin TRUMPUSDTM	2.1830	0.0100	pay 0.0050% / 4h	1h 24m	$4.2M	$11.0M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.1650	0.0504	get 0.0063% / 1h	24m 04s	$280K	$297K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against KuCoin. 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 KuCoinbpFee Coinbase InternationalbpOrdersPrice spread, now −0.825%Rate

Funding earned: $84.84
Price spread: −0.825% → +0.071%: −$89.54
Slippage, 4 orders: −$63.03
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$89.73
Costs to cover: 0.850%
Break-even: 14.4 days

Slippage from KuCoin: live order book, 4 min ago; Coinbase International: live order book, 39 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 KuCoin live order book, 4 min ago	4.60 bp	17.2 bp −$17	96.1 bp −$961	doesn't fit	doesn't fit
Sell Coinbase International live order book, 39 min ago	15.93 bp	25.4 bp −$25	29.9 bp −$299	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	−0.1659%	1h	2.1580	−1.145%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1811	−0.086%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0050%	4h	2.1820	−0.046%	$7.7M	$50.1M	75x	as long as short
Lighter TRUMP	−0.0016%	1h	2.1819	−0.050%	$971K	$795K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1766	−0.294%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1825	−0.023%	$411K	$72K	10x	as long as short
SoDEX TRUMP-USD	+0.0008%	1h	2.1815	−0.069%	$84	$6K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1822	−0.034%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0039%	8h	2.1773	−0.262%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	+0.0045%	4h	2.1820	−0.046%	$31.1M	$48.3M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0050%	4h	2.1701	−0.589%	$105K	$263K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0073%	4h	2.1810	−0.092%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1851	+0.096%	$14.4M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1833	+0.016%	$432K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1780	−0.227%	$187K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1823	−0.031%	$63.1M	$237.2M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1810	−0.092%	$27.5M	$170.8M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1820	−0.046%	$418K	$150K	125x	as long as short
KuCoin TRUMPUSDTMlong	+0.0100%	4h	2.1830	long leg	$4.2M	$11.0M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1830	0.000%	$15.5M	$25.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1721	−0.501%	$682K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1728	−0.468%	$180K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1820	−0.046%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1790	−0.183%	$534K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1809	−0.094%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1826	−0.017%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0112%	1h	2.1859	+0.133%	$256K	$319K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1820	−0.046%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0287%	1h	2.1841	+0.048%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1750	−0.366%	$4.3M	$657K	75x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0504%	1h	2.1650	−0.825%	$280K	$297K	50x