Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1572%/8h= +172.1% APRpaid last 24h +0.518%

Price spread now: Binance against Injective+0.522%107s7-day average +0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$81as 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−$1121.119% of the position

Long on Injective Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.311%+$31 on $10k

Price spread, last 3 days (all we have)−0.265%−$27 · spread now +0.522%, 7d avg +0.024%

Together, before fees+0.045%+$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$47 a day on $10k at the current rate, and Binance is 0.498% dearer against Injective than usual: you sell high and buy low: +$50 more if the spread goes back to its 7-day average of +0.024%. The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.311% in total (about 16.2% 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	Injective TRUMP/USDC PERP	2.1810	−0.1472	get 0.0184% / 1h	45m 38s	$13K	$137K	12x
Short	Binance TRUMPUSDT	2.1924	0.0100	get 0.0050% / 4h	1h 45m	$62.5M	$217.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Injective. 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 InjectivebpFee BinancebpOrdersPrice spread, now +0.522%Rate

Funding earned: $330.06
Price spread: +0.522% → +0.024%: $49.79
Slippage, 4 orders: −$101.85
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Binance: 5 bp × 2 orders: −$10
Net: $267.98
Costs to cover: 1.119%
Break-even: 1.3 days

Slippage from Injective: live order book, 23 min ago; Binance: live order book, 13 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, 23 min ago	34.40 bp	59.6 bp −$60	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	2.29 bp	10.5 bp −$11	15.5 bp −$155	40.9 bp −$4,088	198.2 bp −$99.1K

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 PERPlong	−0.1472%	1h	2.1810	long leg	$13K	$137K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1923	+0.519%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1908	+0.448%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1904	+0.431%	$411K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1893	+0.381%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1901	+0.417%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1890	+0.367%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0088%	8h	2.1917	+0.489%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1907	+0.445%	$975K	$671K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1936	+0.578%	$14.1M	$7.4M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1930	+0.549%	$457K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1928	+0.543%	$189K	$59K	10x	as long as short
Binance TRUMPUSDTshort	+0.0100%	4h	2.1924	+0.522%	$62.5M	$217.1M	75x
Bybit TRUMPUSDT	+0.0100%	4h	2.1930	+0.550%	$30.7M	$42.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1920	+0.504%	$26.8M	$149.2M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1920	+0.504%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1910	+0.459%	$481K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1920	+0.504%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1930	+0.550%	$15.6M	$20.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1863	+0.244%	$683K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1884	+0.337%	$181K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1930	+0.550%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	+0.390%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.504%	$517K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1921	+0.508%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1897	+0.399%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1891	+0.372%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0253%	1h	2.1928	+0.541%	$260K	$267K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1870	+0.275%	$4.2M	$520K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	+0.229%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1925	+0.525%	$1.3M	$2.4M	50x	as long as short