Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0206%/8h= −22.6% APRpaid last 24h −0.030%

Price spread now: BloFin against Coinbase International0.000%7-day average −0.089% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$730.726% of the position

Long on Coinbase International Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.140%+$14 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now 0.000%, 7d avg −0.089%

Together, before fees+0.093%+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.089% dearer against Coinbase International than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.089%): +$9 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 34 hours. Mind the row above: over the last 7 days funding on this pair paid +0.140%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.140% in total (about 7.3% 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	Coinbase International TRUMP-PERP-INTX	2.1880	0.0400	pay 0.0050% / 1h	43m 13s	$283K	$280K	50x
Short	BloFin TRUMP-USDT	2.1880	0.0194	get 0.0097% / 4h	3h 43m	$4.2M	$683K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Coinbase International. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 BloFinbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$43.27
Price spread: 0.000% → −0.089%: $8.88
Slippage, 4 orders: −$50.57
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$106.96
Costs to cover: 0.726%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 10 min ago; BloFin: 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 Coinbase International live order book, 10 min ago	13.74 bp	23.2 bp −$23	31.7 bp −$317	doesn't fit	doesn't fit
Sell BloFin live order book, 5 min ago	6.86 bp	12.9 bp −$13	24.5 bp −$245	47.8 bp −$4,781	127.1 bp −$63.5K

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	2.1740	−0.640%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1871	−0.039%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0155%	4h	2.1880	0.000%	$31.0M	$49.9M	50x	as long as short
SoDEX TRUMP-USD	−0.0119%	1h	2.1869	−0.050%	$95	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0084%	4h	2.1890	+0.046%	$7.9M	$51.1M	75x	as long as short
Extended TRUMP-USD	−0.0048%	1h	2.1869	−0.050%	$75K	$722K	25x	as long as short
Binance TRUMPUSDT	−0.0046%	4h	2.1880	0.000%	$61.9M	$244.2M	75x	as long as short
Variational Omni TRUMP	−0.0022%	4h	2.1801	−0.360%	$676K	$513K	—	as long as short
edgeX TRUMPUSDC	−0.0016%	4h	2.1821	−0.269%	$106K	$265K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1886	+0.026%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1884	+0.018%	$412K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1881	+0.005%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0035%	4h	2.1870	−0.046%	$4K	$173K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0040%	8h	2.1869	−0.052%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1860	−0.091%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1872	−0.037%	$969K	$968K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1897	+0.078%	$13.9M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1900	+0.090%	$429K	$816K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1869	−0.049%	$188K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1870	−0.046%	$27.9M	$179.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	0.000%	$410K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	+0.046%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	0.000%	$15.8M	$25.8M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1840	−0.183%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1890	+0.046%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1900	+0.091%	$511K	$2.3M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1899	+0.088%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1885	+0.023%	$10K	—	100x	as long as short
BloFin TRUMP-USDTshort	+0.0194%	4h	2.1880	0.000%	$4.2M	$683K	75x
Coinbase International TRUMP-PERP-INTXlong	+0.0400%	1h	2.1880	long leg	$283K	$280K	50x
Backpack TRUMP_USDC_PERP	+0.0408%	1h	2.1910	+0.137%	$344K	$374K	10x	as long as short