Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1897%/8h= −207.7% APRpaid last 24h −0.526%

Price spread now: Injective against Aster−0.689%97s7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$160as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1111.106% of the position

Long on Aster Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.494%−$49 on $10k

Price spread, last 4 days (all we have)+0.877%+$88 · spread now −0.689%, 7d avg −0.095%

Together, before fees+0.383%+ Points / potential airdropAster: Stage 5 · farm board+$38 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$57 a day on $10k at the current rate, and Injective is 0.594% cheaper against Aster than usual: you would sell low and buy high (−$59 if the spread goes back to its 7-day average of −0.095%). Swap the legs. The two prices were read 97 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.494% in total (about -25.8% 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	Aster TRUMPUSDT	2.1498	0.0100	pay 0.0050% / 4h	11m 51s	$403K	$778K	20x
Short	Injective TRUMP/USDC PERP	2.1350	−0.1797	pay 0.0225% / 1h	11m 51s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Aster. 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 AsterbpFee InjectivebpOrdersPrice spread, now −0.689%Rate

Funding earned: −$398.3
Price spread: −0.689% → −0.095%: −$59.4
Slippage, 4 orders: −$102.62
Fee Aster: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$568.34
Costs to cover: 1.106%
Break-even: never at this rate

Slippage from Aster: live order book, 26 min ago; Injective: live order book, 12 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 Aster live order book, 26 min ago	4.67 bp	10.2 bp −$10	23.9 bp −$239	doesn't fit	doesn't fit
Sell Injective live order book, 12 min ago	35.19 bp	35.2 bp −$35	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 PERPshort	−0.1797%	1h	2.1350	−0.689%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0346%	1h	2.1475	−0.107%	$76	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0262%	1h	2.1486	−0.056%	$405K	$81K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1487	−0.051%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0226%	4h	2.1452	−0.216%	$662K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0198%	4h	2.1490	−0.038%	$26.8M	$184.5M	50x	as long as short
Lighter TRUMP	−0.0192%	1h	2.1485	−0.061%	$939K	$1.0M	10x	as long as short
Bybit TRUMPUSDT	−0.0190%	4h	2.1480	−0.084%	$30.5M	$52.4M	50x	as long as short
Binance TRUMPUSDT	−0.0187%	4h	2.1482	−0.074%	$60.8M	$250.3M	75x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1470	−0.131%	$74K	$496K	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0106%	4h	2.1480	−0.084%	$7.7M	$53.4M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0105%	8h	2.1489	−0.045%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0092%	4h	2.1442	−0.263%	$105K	$254K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0069%	4h	2.1500	+0.009%	$5K	$279K	10x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1507	+0.041%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1501	+0.012%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0020%	4h	2.1480	−0.084%	$4.1M	$10.8M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1470	−0.131%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0055%	4h	2.1510	+0.055%	$4.1M	$689K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.782%	$167K	$479K	50x	as long as short
Bitget TRUMPUSDT	+0.0082%	4h	2.1490	−0.038%	$15.3M	$27.0M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1512	+0.065%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDTlong	+0.0100%	4h	2.1498	long leg	$403K	$778K	20x
Pacifica TRUMP	+0.0100%	1h	2.1510	+0.055%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1480	−0.084%	$399K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1460	−0.175%	$173K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1510	+0.055%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	+0.009%	$483K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1508	+0.045%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0292%	1h	2.1506	+0.037%	$383K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0598%	1h	2.1501	+0.013%	$1.3M	$2.3M	50x	as long as short