Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.099%

Price spread now: Gate against Coinbase International0.000%7-day average −0.077% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$460.460% of the position

Long on Coinbase International Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.141%−$14 on $10k

Price spread, last 4 days (all we have)−0.019%−$2 · spread now 0.000%, 7d avg −0.077%

Together, before fees−0.160%−$16 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.077% dearer against Coinbase International than usual: you sell high and buy low (spread 0.000% now, against its 7-day average of −0.077%): +$8 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 26 hours. At the pace of the last 7 days (−0.141% in total) that is about 3.8 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.141% in total (about -7.4% 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	2.1450	0.0192	pay 0.0024% / 1h	11m 43s	$187K	$439K	50x
Short	Gate TRUMP_USDT	2.1450	−0.0048	pay 0.0024% / 4h	1h 11m	$7.7M	$53.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now 0.000%Rate

Funding earned: −$50.4
Price spread: 0.000% → −0.077%: $7.73
Slippage, 4 orders: −$21.04
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$88.72
Costs to cover: 0.460%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 31 min ago; Gate: live order book, 2 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, 31 min ago	4.68 bp	9.7 bp −$10	26.8 bp −$268	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.33 bp	13.3 bp −$13	27.9 bp −$279	70.4 bp −$7,040	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	2.1380	−0.326%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1461	+0.053%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0168%	1h	2.1439	−0.051%	$74K	$521K	25x	as long as short
Binance TRUMPUSDT	−0.0164%	4h	2.1450	0.000%	$60.6M	$250.8M	75x	as long as short
Variational Omni TRUMP	−0.0117%	4h	2.1461	+0.052%	$663K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0101%	4h	2.1430	−0.093%	$26.6M	$184.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0098%	1h	2.1491	+0.189%	$1.3M	$2.3M	50x	as long as short
edgeX TRUMPUSDC	−0.0085%	4h	2.1448	−0.008%	$105K	$266K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0056%	4h	2.1460	+0.047%	$5K	$252K	10x	as long as short
Gate TRUMP_USDTshort	−0.0048%	4h	2.1450	0.000%	$7.7M	$53.8M	75x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0035%	4h	2.1450	0.000%	$30.5M	$52.5M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0026%	8h	2.1454	+0.018%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0023%	1h	2.1468	+0.084%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1466	+0.073%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1478	+0.131%	$404K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1470	+0.093%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1450	+0.001%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0074%	4h	2.1440	−0.047%	$4.1M	$701K	75x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1442	−0.037%	$937K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1471	+0.098%	$13.6M	$8.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1452	+0.011%	$403K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1477	+0.126%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1460	+0.047%	$399K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1450	0.000%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1460	+0.047%	$15.3M	$27.0M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1469	+0.087%	$176K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1490	+0.186%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1470	+0.093%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0098%	1h	2.1477	+0.127%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0192%	1h	2.1450	long leg	$187K	$439K	50x
Backpack TRUMP_USDC_PERP	+0.0425%	1h	2.1496	+0.214%	$380K	$415K	10x	as long as short