Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0088%/8h= +9.7% APRpaid last 24h −0.064%

Price spread now: Kraken Futures against BloFin+0.116%57s7-day average +0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$103as 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−$570.565% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.464%−$46 on $10k

Price spread, last 4 days (all we have)0.000%$0 · spread now +0.116%, 7d avg +0.077%

Together, before fees−0.464%−$46 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Kraken Futures is 0.039% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.077%. Mind the row above: over the last 7 days funding on this pair cost −0.464%, so the current rate has only just turned in your favour. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRUMP-USDT	2.1610	0.0085	pay 0.0042% / 4h	3h 03m	$4.2M	$650K	75x
Short	Kraken Futures PF_TRUMPUSD	2.1635	0.0173	get 0.0022% / 1h	3m 59s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.116%Rate

Funding earned: $18.53
Price spread: +0.116% → +0.077%: $3.93
Slippage, 4 orders: −$34.54
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$34.08
Costs to cover: 0.565%
Break-even: 19.9 days

Slippage from BloFin: live order book, 4 min ago; Kraken Futures: live order book, 5 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 BloFin live order book, 4 min ago	6.95 bp	12.9 bp −$13	19.1 bp −$191	35.8 bp −$3,577	134.4 bp −$67.2K
Sell Kraken Futures live order book, 5 min ago	4.63 bp	17.7 bp −$18	36.5 bp −$365	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	−0.1765%	1h	2.1490	−0.555%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0383%	1h	2.1605	−0.023%	$87	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1629	+0.087%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0238%	8h	2.1616	+0.028%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0166%	1h	2.1617	+0.032%	$407K	$72K	10x	as long as short
Extended TRUMP-USD	−0.0160%	1h	2.1599	−0.049%	$77K	$718K	25x	as long as short
Binance TRUMPUSDT	−0.0159%	4h	2.1582	−0.128%	$61.0M	$246.3M	75x	as long as short
Bybit TRUMPUSDT	−0.0116%	4h	2.1580	−0.139%	$30.7M	$50.7M	50x	as long as short
Gate TRUMP_USDT	−0.0104%	4h	2.1620	+0.046%	$7.9M	$52.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0069%	4h	2.1588	−0.100%	$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
Lighter TRUMP	−0.0064%	1h	2.1600	−0.046%	$954K	$977K	10x	as long as short
Variational Omni TRUMP	−0.0058%	4h	2.1621	+0.052%	$668K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1626	+0.075%	$27K	$512	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0003%	4h	2.1610	0.000%	$5K	$199K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1625	+0.069%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0012%	4h	2.1626	+0.075%	$180K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1595	−0.069%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0061%	4h	2.1560	−0.231%	$27.7M	$179.1M	50x	as long as short
BloFin TRUMP-USDTlong	+0.0085%	4h	2.1610	long leg	$4.2M	$650K	75x
Hyperliquid TRUMP	+0.0100%	1h	2.1627	+0.079%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1596	−0.065%	$406K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1627	+0.079%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1610	0.000%	$402K	$152K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1610	0.000%	$4.3M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1570	−0.185%	$15.6M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1650	+0.185%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1640	+0.139%	$493K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1620	+0.048%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0173%	1h	2.1635	+0.116%	$1.3M	$2.3M	50x
Backpack TRUMP_USDC_PERP	+0.0204%	1h	2.1644	+0.157%	$383K	$403K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1650	+0.185%	$298K	$301K	50x	as long as short