Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0236%/8h= +25.8% APRpaid last 24h −0.079%

Price spread now: HTX against Coinbase International+0.138%7-day average +0.017% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$680.678% of the position

Long on Coinbase International Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.057%−$6 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.138%, 7d avg +0.017%

Together, before fees−0.100%−$10 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and HTX is 0.121% dearer against Coinbase International than usual: you sell high and buy low: +$12 more if the spread goes back to its 7-day average of +0.017%. Mind the row above: over the last 7 days funding on this pair cost −0.057%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% 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	2.1680	−0.0136	get 0.0017% / 1h	20m 38s	$144K	$515K	50x
Short	HTX TRUMP-USDT	2.1710	0.0100	get 0.0050% / 4h	3h 20m	$501K	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.138%Rate

Funding earned: $49.56
Price spread: +0.138% → +0.017%: $12.11
Slippage, 4 orders: −$45.82
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$6.16
Costs to cover: 0.678%
Break-even: 7.9 days

Slippage from Coinbase International: live order book, 12 min ago; HTX: 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, 12 min ago	7.01 bp	12.0 bp −$12	20.2 bp −$202	doesn't fit	doesn't fit
Sell HTX live order book, 3 min ago	6.94 bp	20.3 bp −$20	45.2 bp −$452	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	−0.1829%	1h	2.1350	−1.522%	$12K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0317%	4h	2.1682	+0.009%	$673K	$419K	—	as long as short
Bybit TRUMPUSDT	−0.0317%	4h	2.1670	−0.046%	$31.2M	$51.6M	50x	as long as short
SoDEX TRUMP-USD	−0.0250%	1h	2.1695	+0.069%	$68	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0246%	4h	2.1680	0.000%	$27.2M	$183.4M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1682	+0.009%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0225%	4h	2.1679	−0.005%	$63.3M	$248.2M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1660	−0.093%	$74K	$492K	25x	as long as short
Lighter TRUMP	−0.0216%	1h	2.1635	−0.208%	$946K	$993K	10x	as long as short
Coinbase International TRUMP-PERP-INTXlong	−0.0136%	1h	2.1680	long leg	$144K	$515K	50x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0130%	8h	2.1671	−0.043%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0117%	4h	2.1605	−0.345%	$105K	$253K	20x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1670	−0.046%	$7.8M	$50.5M	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0089%	4h	2.1700	+0.092%	$5K	$302K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0040%	4h	2.1660	−0.092%	$4.2M	$10.6M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0026%	1h	2.1707	+0.125%	$393K	$76K	10x	as long as short
dYdX TRUMP-USD	−0.0015%	1h	2.1691	+0.050%	$26K	$2K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1707	+0.123%	$41K	—	150x	as long as short
Bitget TRUMPUSDT	+0.0012%	4h	2.1670	−0.046%	$15.4M	$26.3M	75x	as long as short
BloFin TRUMP-USDT	+0.0014%	4h	2.1710	+0.138%	$4.3M	$693K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1681	+0.007%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0074%	4h	2.1670	−0.046%	$403K	$150K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1663	−0.078%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1670	−0.046%	$412K	$679K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1678	−0.009%	$186K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1650	−0.138%	$178K	$4.2M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1720	+0.185%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1710	+0.138%	$501K	$2.5M	50x
Kraken Futures PF_TRUMPUSD	+0.0120%	1h	2.1724	+0.202%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0170% / S −0.0143%	1h	2.1707	+0.124%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0381%	1h	2.1729	+0.226%	$385K	$422K	10x	as long as short