TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0228%/8h= −25.0% APRnext payment −$0.29 per $10,000 · paid last 24h −0.095%

Price spread now: Kraken Futures against Coinbase International+0.084%7-day average −0.012% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$820.818% of the position

Long on Coinbase International Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.324%−$32 on $10k

Price spread, last 4 days (all we have)−0.015%−$2 · spread now +0.084%, 7d avg −0.012%

Together, before fees−0.339%−$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Kraken Futures is 0.096% dearer against Coinbase International than usual: you sell high and buy low (spread +0.084% now, against its 7-day average of −0.012%): +$10 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 34 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1790	0.0400	pay 0.0050% / 1h	41m 29s	$282K	$279K	50x
Short	Kraken Futures PF_TRUMPUSD	2.1808	0.0172	get 0.0021% / 1h	41m 29s	$1.3M	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.084%Rate

Funding earned: −$47.97
Price spread: +0.084% → −0.012%: $9.61
Slippage, 4 orders: −$61.8
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$120.17
Costs to cover: 0.818%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 11 min ago; Kraken Futures: 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, 11 min ago	13.74 bp	23.2 bp −$23	31.7 bp −$317	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	4.57 bp	18.4 bp −$18	32.6 bp −$326	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	−0.1765%	1h	2.1740	−0.229%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1781	−0.039%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0243%	4h	2.1800	+0.046%	$30.8M	$50.0M	50x	as long as short
SoDEX TRUMP-USD	−0.0151%	1h	2.1780	−0.046%	$95	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0117%	1h	2.1796	+0.028%	$410K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0060%	4h	2.1800	+0.046%	$7.8M	$51.2M	75x	as long as short
Binance TRUMPUSDT	−0.0050%	4h	2.1800	+0.046%	$61.7M	$244.6M	75x	as long as short
Extended TRUMP-USD	−0.0048%	1h	2.1739	−0.235%	$75K	$722K	25x	as long as short
Variational Omni TRUMP	−0.0022%	4h	2.1801	+0.051%	$676K	$513K	—	as long as short
edgeX TRUMPUSDC	−0.0022%	4h	2.1861	+0.326%	$107K	$263K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
dYdX TRUMP-USD	0.0000%	1h	2.1786	−0.017%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	+0.092%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0033%	4h	2.1790	0.000%	$4K	$172K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0036%	8h	2.1737	−0.241%	$5K	$175	5x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1770	−0.090%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1771	−0.087%	$964K	$968K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1785	−0.021%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1760	−0.138%	$426K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1773	−0.078%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1790	0.000%	$27.9M	$179.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1780	−0.046%	$409K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1770	−0.092%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1780	−0.046%	$15.8M	$25.9M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1840	+0.229%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1810	+0.092%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1810	+0.092%	$508K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1816	+0.121%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0172%	1h	2.1808	+0.084%	$1.3M	$2.2M	50x
BloFin TRUMP-USDT	+0.0194%	4h	2.1880	+0.413%	$4.2M	$683K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0392%	1h	2.1815	+0.115%	$342K	$374K	10x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0400%	1h	2.1790	long leg	$282K	$279K	50x