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 OKX0.000%7-day average +0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$620.615% of the position

Long on OKX Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.151%+$15 on $10k

Price spread, last 4 days (all we have)−0.142%−$14 · spread now 0.000%, 7d avg +0.109%

Together, before fees+0.009%+$1 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.109% cheaper against OKX than usual: you would sell low and buy high (spread 0.000% now, against its 7-day average of +0.109%). If the spread goes back, that is −$11 on $10k: about 22 hours of funding at the current rate (+$12 a day). At the pace of the last 7 days (+0.151% in total) that is about 5.0 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.151% in total (about 7.9% 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	OKX TRUMP-USDT-SWAP	2.1710	0.0100	pay 0.0050% / 4h	1h 46m	$27.8M	$169.0M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.1710	0.0504	get 0.0063% / 1h	46m 54s	$281K	$300K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against OKX. 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 OKXbpFee Coinbase InternationalbpOrdersPrice spread, now 0.000%Rate

Funding earned: $84.84
Price spread: 0.000% → +0.109%: −$10.89
Slippage, 4 orders: −$41.5
Fee OKX: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $12.45
Costs to cover: 0.615%
Break-even: 6.0 days

Slippage from OKX: live order book, 2 min ago; Coinbase International: live order book, 16 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 OKX live order book, 2 min ago	2.31 bp	7.3 bp −$7	12.3 bp −$123	46.2 bp −$4,617	doesn't fit
Sell Coinbase International live order book, 16 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	2.1620	−0.415%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1716	+0.029%	$5	—	10x	as long as short
Lighter TRUMP	−0.0136%	1h	2.1710	0.000%	$967K	$792K	10x	as long as short
Gate TRUMP_USDT	−0.0098%	4h	2.1730	+0.092%	$7.6M	$49.4M	75x	as long as short
SoDEX TRUMP-USD	−0.0036%	1h	2.1715	+0.023%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1756	+0.211%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1731	+0.097%	$409K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1734	+0.112%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0049%	8h	2.1737	+0.126%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1709	−0.007%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0080%	4h	2.1720	+0.046%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1730	+0.092%	$14.3M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1729	+0.088%	$430K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1749	+0.180%	$187K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1716	+0.029%	$62.9M	$235.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1700	−0.046%	$31.1M	$48.1M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.1710	long leg	$27.8M	$169.0M	50x
MEXC TRUMP_USDC	+0.0100%	4h	2.1720	+0.046%	$426K	$142K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1730	+0.092%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1740	+0.138%	$15.6M	$24.9M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1740	+0.138%	$255K	$317K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1831	+0.556%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1850	+0.645%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1760	+0.230%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1740	+0.138%	$532K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1725	+0.069%	$115K	$705K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1710	0.000%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1731	+0.096%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0289%	1h	2.1743	+0.154%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1730	+0.092%	—	$655K	75x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0504%	1h	2.1710	0.000%	$281K	$300K	50x