Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0527%/8h= −57.7% APRpaid last 24h −0.110%

Price spread now: edgeX against Coinbase International−0.150%77s7-day average −0.094% · you buy dearer than you sell

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−$760.760% of the position

Long on Coinbase International Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.274%−$27 on $10k

Price spread, last 4 days (all we have)+0.085%+$8 · spread now −0.150%, 7d avg −0.094%

Together, before fees−0.189%+ Points / potential airdropedgeX: Active · farm board−$19 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and edgeX is 0.056% cheaper against Coinbase International than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.094%). Swap the legs. The two prices were read 77 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 -0.274% in total (about -14.3% 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	2.1210	0.0392	pay 0.0049% / 1h	24m 12s	$241K	$341K	50x
Short	edgeX TRUMPUSDC	2.1178	−0.0135	pay 0.0067% / 4h	2h 24m	$103K	$263K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.150%Rate

Funding earned: −$110.66
Price spread: −0.150% → −0.094%: −$5.58
Slippage, 4 orders: −$56.99
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$192.24
Costs to cover: 0.760%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 24 min ago; edgeX: live order book, 23 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, 24 min ago	6.97 bp	30.5 bp −$31	38.5 bp −$385	doesn't fit	doesn't fit
Sell edgeX live order book, 23 min ago	6.99 bp	14.4 bp −$14	40.4 bp −$404	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	−0.1827%	1h	2.1090	−0.566%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1283	+0.344%	$941K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0413%	1h	2.1295	+0.401%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0335%	4h	2.1280	+0.330%	$30.0M	$51.6M	50x	as long as short
Binance TRUMPUSDT	−0.0274%	4h	2.1286	+0.360%	$60.0M	$249.8M	75x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1299	+0.420%	$77K	$745K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1282	+0.337%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0224%	8h	2.1278	+0.322%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	+0.007%	$654K	$426K	—	as long as short
Gate TRUMP_USDT	−0.0158%	4h	2.1280	+0.330%	$7.6M	$53.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDCshort	−0.0135%	4h	2.1178	−0.150%	$103K	$263K	20x
Deribit TRUMP_USDC-PERPETUAL	−0.0125%	1h	2.1318	+0.509%	$401K	$72K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0070%	4h	2.1270	+0.283%	$26.7M	$180.0M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0048%	4h	2.1290	+0.377%	$5K	$223K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	+0.025%	$175K	$4.7M	10x	as long as short
BloFin TRUMP-USDT	−0.0034%	4h	2.1280	+0.330%	$4.1M	$686K	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1286	+0.359%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1304	+0.444%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1290	+0.377%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1290	+0.377%	$13.4M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1293	+0.390%	$400K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1270	+0.283%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1290	+0.377%	$396K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1290	+0.377%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1300	+0.424%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1330	+0.566%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1310	+0.471%	$478K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1308	+0.463%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0172%	1h	2.1318	+0.509%	$379K	$411K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0199%	1h	2.1325	+0.541%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0392%	1h	2.1210	long leg	$241K	$341K	50x