Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.534%

Price spread now: Aster against Injective−0.551%57s7-day average +0.107% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as 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−$1181.184% of the position

Long on Injective Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days+0.564%+$56 on $10k

Price spread, last 4 days (all we have)+0.902%+$90 · spread now −0.551%, 7d avg +0.107%

Together, before fees+1.466%+ Points / potential airdropAster: Stage 5 · farm board+$147 on $10k · with fees, hour by hour

Funding pays, the price is against you. Aster is 0.657% cheaper against Injective than usual: you would sell low and buy high (spread −0.551% now, against its 7-day average of +0.107%). If the spread goes back, that is −$66 on $10k: about 33 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.564% in total) that is about 8.2 days. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TRUMP/USDC PERP	2.1600	0.0033	pay 0.0004% / 1h	50m 18s	$13K	$157K	12x
Short	Aster TRUMPUSDT	2.1481	0.0100	get 0.0050% / 4h	1h 50m	$405K	$644K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Injective. 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 InjectivebpFee AsterbpOrdersPrice spread, now −0.551%Rate

Funding earned: $14
Price spread: −0.551% → +0.107%: −$65.71
Slippage, 4 orders: −$110.39
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Aster: 4 bp × 2 orders: −$8
Net: −$170.12
Costs to cover: 1.184%
Break-even: 92.1 days

Slippage from Injective: live order book, 61 min ago; Aster: live order book, 60 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 Injective live order book, 61 min ago	39.58 bp	58.1 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 60 min ago	4.66 bp	10.2 bp −$10	28.4 bp −$284	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
Variational Omni TRUMP	−0.0404%	4h	2.1470	−0.604%	$667K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0382%	4h	2.1470	−0.602%	$31.3M	$48.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0379%	1h	2.1465	−0.625%	$73	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0337%	4h	2.1460	−0.648%	$27.2M	$172.8M	50x	as long as short
Extended TRUMP-USD	−0.0320%	1h	2.1458	−0.658%	$74K	$491K	25x	as long as short
Binance TRUMPUSDT	−0.0320%	4h	2.1473	−0.588%	$63.1M	$237.9M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0308%	1h	2.1478	−0.565%	$386K	$78K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1460	−0.648%	$131K	$515K	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1470	−0.603%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0238%	4h	2.1470	−0.602%	$7.8M	$47.2M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0176%	8h	2.1477	−0.570%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0156%	4h	2.1517	−0.383%	$105K	$253K	20x	as long as short
MEXC TRUMP_USDC	−0.0152%	4h	2.1470	−0.602%	$388K	$142K	125x	as long as short
Lighter TRUMP	−0.0144%	1h	2.1477	−0.569%	$924K	$952K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0124%	4h	2.1490	−0.509%	$4.2M	$10.2M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0084%	4h	2.1470	−0.602%	$5K	$303K	10x	as long as short
BloFin TRUMP-USDT	−0.0076%	4h	2.1480	−0.556%	$4.3M	$675K	75x	as long as short
Bitget TRUMPUSDT	−0.0022%	4h	2.1480	−0.556%	$15.4M	$25.1M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1495	−0.486%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	0.0000%	1h	2.1465	−0.625%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1537	−0.292%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1498	−0.472%	$1.3M	$1.9M	50x	as long as short
Injective TRUMP/USDC PERPlong	+0.0033%	1h	2.1600	long leg	$13K	$157K	12x
GRVT TRUMP_USDT_Perp	+0.0036%	4h	2.1520	−0.370%	$177K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1496	−0.481%	$13.6M	$7.6M	10x	as long as short
Aster TRUMPUSDTshort	+0.0100%	4h	2.1481	−0.551%	$405K	$644K	20x
Pacifica TRUMP	+0.0100%	1h	2.1477	−0.569%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	−0.463%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	−0.463%	$498K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1500	−0.463%	$149K	$358K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0177%	1h	2.1514	−0.398%	$381K	$395K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0195% / S −0.0191%	1h	2.1499	−0.469%	$11K	—	100x	as long as short