Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0324%/8h= +35.5% APRpaid last 24h +0.081%

Price spread now: Coinbase International against Bitget+0.361%47s7-day average +0.066% · you sell dearer than you buy

Net, funding: paid 7d − costs−$58as 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−$710.713% of the position

Long on Bitget Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.137%+$14 on $10k

Price spread, last 3 days (all we have)−0.325%−$33 · spread now +0.361%, 7d avg +0.066%

Together, before fees−0.188%−$19 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Coinbase International is 0.295% dearer against Bitget than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.066%. The two prices were read 47 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 0.137% in total (about 7.2% 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	Bitget TRUMPUSDT	2.2160	0.0100	pay 0.0050% / 4h	46m 19s	$15.7M	$21.3M	75x
Short	Coinbase International TRUMP-PERP-INTX	2.2240	0.0424	get 0.0053% / 1h	46m 19s	$287K	$405K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bitget. 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 BitgetbpFee Coinbase InternationalbpOrdersPrice spread, now +0.361%Rate

Funding earned: $68.04
Price spread: +0.361% → +0.066%: $29.5
Slippage, 4 orders: −$49.25
Fee Bitget: 6 bp × 2 orders: −$12
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $26.29
Costs to cover: 0.713%
Break-even: 4.3 days

Slippage from Bitget: live order book, 2 min ago; Coinbase International: live order book, 32 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 Bitget live order book, 2 min ago	2.26 bp	8.6 bp −$9	12.6 bp −$126	47.4 bp −$4,735	doesn't fit
Sell Coinbase International live order book, 32 min ago	13.70 bp	23.1 bp −$23	26.6 bp −$266	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	−0.1537%	1h	2.2030	−0.587%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2152	−0.036%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2127	−0.148%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2097	−0.284%	$414K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2176	+0.072%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2151	−0.039%	$121K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0089%	4h	2.2170	+0.045%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0096%	8h	2.2140	−0.090%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2136	−0.108%	$992K	$738K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2160	+0.001%	$462K	$835K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2138	−0.101%	$190K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2171	+0.051%	$63.9M	$223.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2170	+0.045%	$31.1M	$44.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2170	+0.045%	$27.4M	$153.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2160	0.000%	$7.5M	$47.9M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2130	−0.135%	$485K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2150	−0.045%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDTlong	+0.0100%	4h	2.2160	long leg	$15.7M	$21.3M	75x
Variational Omni TRUMP	+0.0100%	4h	2.2172	+0.055%	$624K	$348K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	+0.135%	$194K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2130	−0.135%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2115	−0.203%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2150	−0.045%	$551K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2141	−0.086%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2167	+0.033%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2172	+0.052%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2080	−0.361%	$4.2M	$637K	75x	as long as short
Hyperliquid TRUMP	+0.0347%	1h	2.2185	+0.113%	$14.3M	$7.5M	10x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0424%	1h	2.2240	+0.361%	$287K	$405K	50x
Backpack TRUMP_USDC_PERP	+0.0605%	1h	2.2140	−0.090%	$261K	$278K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0863%	1h	2.2143	−0.076%	$1.3M	$2.5M	50x	as long as short