Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0372%/8h= −40.7% APRpaid last 24h −0.005%

Price spread now: Extended against HTX−0.098%7-day average −0.138% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$550.550% of the position

Long on HTX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.227%−$23 on $10k

Price spread, last 4 days (all we have)+0.080%+$8 · spread now −0.098%, 7d avg −0.138%

Together, before fees−0.147%+ Points / potential airdropExtended: Active · farm board−$15 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.040% dearer against HTX than usual: you sell high and buy low (spread −0.098% now, against its 7-day average of −0.138%): +$4 on $10k if it goes back. Holding the pair costs −$11 a day in funding at the current rate, which eats that in about 9 hours. At the pace of the last 7 days (−0.227% in total) that is about 30 hours.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.227% in total (about -11.9% 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	HTX TRUMP-USDT	2.1550	0.0100	pay 0.0050% / 4h	2h 05m	$486K	$2.4M	50x
Short	Extended TRUMP-USD	2.1529	−0.0272	pay 0.0034% / 1h	5m 10s	$74K	$739K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against HTX. 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 HTXbpFee ExtendedbpOrdersPrice spread, now −0.098%Rate

Funding earned: −$78.12
Price spread: −0.098% → −0.138%: $3.99
Slippage, 4 orders: −$37.97
Fee HTX: 6 bp × 2 orders: −$12
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$129.1
Costs to cover: 0.550%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Extended: live order book, 43 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 HTX live order book, 4 min ago	6.95 bp	15.8 bp −$16	83.9 bp −$839	doesn't fit	doesn't fit
Sell Extended live order book, 43 min ago	4.66 bp	7.7 bp −$8	31.2 bp −$312	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	2.1440	−0.510%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0344%	1h	2.1536	−0.065%	$952K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0291%	1h	2.1545	−0.023%	$82	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0276%	4h	2.1558	+0.038%	$60.8M	$251.3M	75x	as long as short
Extended TRUMP-USDshort	−0.0272%	1h	2.1529	−0.098%	$74K	$739K	25x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1532	−0.086%	$5	—	10x	as long as short
Bybit TRUMPUSDT	−0.0205%	4h	2.1550	0.000%	$30.6M	$52.3M	50x	as long as short
Variational Omni TRUMP	−0.0180%	4h	2.1531	−0.087%	$664K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0165%	8h	2.1520	−0.138%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0139%	4h	2.1567	+0.077%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0108%	4h	2.1540	−0.046%	$7.7M	$54.0M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0081%	4h	2.1540	−0.046%	$26.6M	$185.2M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0063%	4h	2.1530	−0.093%	$4K	$234K	10x	as long as short
BloFin TRUMP-USDT	−0.0036%	4h	2.1530	−0.093%	$4.1M	$690K	75x	as long as short
dYdX TRUMP-USD	−0.0016%	1h	2.1556	+0.028%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1543	−0.032%	$406K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1549	−0.006%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1525	−0.116%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0034%	4h	2.1517	−0.153%	$182K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1563	+0.060%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1550	0.000%	$405K	$774K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1536	−0.064%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1540	−0.046%	$402K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1550	0.000%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1550	0.000%	$15.4M	$27.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1550	0.000%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.1550	long leg	$486K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1551	+0.006%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1569	+0.088%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0271%	1h	2.1580	+0.139%	$384K	$413K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1550	0.000%	$215K	$408K	50x	as long as short