Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0262%/8h= +28.7% APRpaid last 24h +0.089%

Price spread now: Coinbase International against Bybit+0.187%7-day average +0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$390.388% of the position

Long on Bybit Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.208%+$21 on $10k

Price spread, last 4 days (all we have)−0.158%−$16 · spread now +0.187%, 7d avg +0.089%

Together, before fees+0.049%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Coinbase International is 0.098% dearer against Bybit than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.089%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1400	−0.0070	get 0.0035% / 4h	1h 42m	$30.4M	$52.5M	50x
Short	Coinbase International TRUMP-PERP-INTX	2.1440	0.0192	get 0.0024% / 1h	42m 13s	$205K	$421K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Bybit. 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 BybitbpFee Coinbase InternationalbpOrdersPrice spread, now +0.187%Rate

Funding earned: $54.98
Price spread: +0.187% → +0.089%: $9.84
Slippage, 4 orders: −$17.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $26.05
Costs to cover: 0.388%
Break-even: 3.7 days

Slippage from Bybit: live order book, 2 min ago; Coinbase International: live order book, 1 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 Bybit live order book, 2 min ago	2.34 bp	11.6 bp −$12	17.1 bp −$171	101.2 bp −$10.1K	doesn't fit
Sell Coinbase International live order book, 1 min ago	4.68 bp	9.7 bp −$10	14.2 bp −$142	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	−0.1927%	1h	2.1310	−0.421%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1382	−0.086%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0224%	4h	2.1400	0.000%	$60.4M	$251.9M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1390	−0.045%	$74K	$741K	25x	as long as short
Variational Omni TRUMP	−0.0141%	4h	2.1381	−0.088%	$660K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0114%	4h	2.1397	−0.016%	$104K	$265K	20x	as long as short
Gate TRUMP_USDT	−0.0112%	4h	2.1390	−0.047%	$7.7M	$53.6M	75x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1425	+0.117%	$1.3M	$2.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0095%	4h	2.1390	−0.047%	$26.4M	$184.8M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0080%	8h	2.1376	−0.113%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDTlong	−0.0070%	4h	2.1400	long leg	$30.4M	$52.5M	50x
Orderly PERP_TRUMP_USDC	−0.0060%	4h	2.1400	0.000%	$5K	$240K	10x	as long as short
SoDEX TRUMP-USD	−0.0054%	1h	2.1385	−0.070%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1396	−0.019%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1407	+0.033%	$403K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1406	+0.028%	$40K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0016%	4h	2.1420	+0.093%	$4.1M	$686K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1390	−0.047%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1390	−0.047%	$945K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1408	+0.037%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1400	0.000%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1381	−0.091%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1390	−0.047%	$398K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1400	0.000%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1390	−0.047%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1400	0.000%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1400	0.000%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1390	−0.047%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1409	+0.042%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0192%	1h	2.1440	+0.187%	$205K	$421K	50x
Backpack TRUMP_USDC_PERP	+0.0330%	1h	2.1425	+0.117%	$379K	$414K	10x	as long as short