Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0092%/8h= −10.1% APRpaid last 24h −0.089%

Price spread now: Bitget against Coinbase International−0.187%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Coinbase International Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.169%−$17 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.187%, 7d avg −0.081%

Together, before fees−0.020%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Bitget is 0.105% cheaper against Coinbase International than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.081%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1440	0.0192	pay 0.0024% / 1h	46m 01s	$204K	$420K	50x
Short	Bitget TRUMPUSDT	2.1400	0.0100	get 0.0050% / 4h	1h 46m	$15.2M	$27.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Coinbase International. 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 Coinbase InternationalbpFee BitgetbpOrdersPrice spread, now −0.187%Rate

Funding earned: −$19.32
Price spread: −0.187% → −0.081%: −$10.53
Slippage, 4 orders: −$46.03
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$97.88
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 62 min ago; Bitget: live order book, 3 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 Coinbase International live order book, 62 min ago	6.97 bp	30.5 bp −$31	38.5 bp −$385	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.34 bp	8.3 bp −$8	12.4 bp −$124	41.4 bp −$4,138	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	−0.606%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1382	−0.272%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0232%	1h	2.1385	−0.256%	$74K	$741K	25x	as long as short
Binance TRUMPUSDT	−0.0228%	4h	2.1390	−0.233%	$60.4M	$252.4M	75x	as long as short
Variational Omni TRUMP	−0.0154%	4h	2.1411	−0.133%	$660K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0119%	4h	2.1427	−0.061%	$105K	$265K	20x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1407	−0.155%	$1.3M	$2.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0096%	4h	2.1380	−0.280%	$26.4M	$184.7M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0088%	8h	2.1394	−0.214%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0082%	4h	2.1390	−0.233%	$7.7M	$53.5M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0065%	4h	2.1390	−0.233%	$30.3M	$52.5M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0059%	4h	2.1390	−0.233%	$5K	$239K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0030%	1h	2.1391	−0.229%	$403K	$81K	10x	as long as short
SoDEX TRUMP-USD	−0.0021%	1h	2.1395	−0.210%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1417	−0.109%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1396	−0.207%	$40K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0012%	4h	2.1410	−0.140%	$4.1M	$686K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1380	−0.280%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1379	−0.285%	$943K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1403	−0.173%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1401	−0.182%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1399	−0.190%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1400	−0.187%	$399K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1390	−0.233%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1400	−0.187%	$15.2M	$27.1M	75x
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1420	−0.093%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1400	−0.187%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	−0.140%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1392	−0.224%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0192%	1h	2.1440	long leg	$204K	$420K	50x
Backpack TRUMP_USDC_PERP	+0.0363%	1h	2.1418	−0.103%	$379K	$415K	10x	as long as short