Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.1865%/8h= +204.2% APRpaid last 24h +0.518%

Price spread now: Bitget against Injective+0.557%7-day average +0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$1161.157% of the position

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.481%+$48 on $10k

Price spread, last 4 days (all we have)−0.320%−$32 · spread now +0.557%, 7d avg +0.058%

Together, before fees+0.162%+$16 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$56 a day on $10k at the current rate, and Bitget is 0.499% dearer against Injective than usual: you sell high and buy low: +$50 more if the spread goes back to its 7-day average of +0.058%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.481% in total (about 25.1% 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	2.1550	−0.1765	get 0.0221% / 1h	21m 14s	$13K	$157K	12x
Short	Bitget TRUMPUSDT	2.1670	0.0100	get 0.0050% / 4h	3h 21m	$15.7M	$26.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.557%Rate

Funding earned: $391.69
Price spread: +0.557% → +0.058%: $49.86
Slippage, 4 orders: −$103.66
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $325.87
Costs to cover: 1.157%
Break-even: 1.2 days

Slippage from Injective: live order book, 18 min ago; Bitget: 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 Injective live order book, 18 min ago	41.28 bp	50.4 bp −$50	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.31 bp	8.7 bp −$9	17.7 bp −$177	51.6 bp −$5,160	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 PERPlong	−0.1765%	1h	2.1550	long leg	$13K	$157K	12x
SoDEX TRUMP-USD	−0.0322%	1h	2.1687	+0.636%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0300%	8h	2.1690	+0.648%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	+0.655%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0196%	4h	2.1660	+0.510%	$7.8M	$51.9M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0165%	1h	2.1697	+0.682%	$408K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0105%	4h	2.1672	+0.567%	$61.3M	$245.9M	75x	as long as short
Extended TRUMP-USD	−0.0104%	1h	2.1679	+0.599%	$74K	$714K	25x	as long as short
edgeX TRUMPUSDC	−0.0046%	4h	2.1660	+0.509%	$106K	$264K	20x	as long as short
Variational Omni TRUMP	−0.0020%	4h	2.1681	+0.608%	$670K	$516K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0010%	4h	2.1660	+0.510%	$30.7M	$50.3M	50x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1706	+0.724%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1710	+0.742%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0015%	4h	2.1690	+0.650%	$4K	$194K	10x	as long as short
Lighter TRUMP	+0.0032%	1h	2.1667	+0.543%	$957K	$975K	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1685	+0.626%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0058%	4h	2.1690	+0.650%	$177K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1670	+0.557%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1686	+0.630%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1697	+0.680%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1650	+0.464%	$27.7M	$179.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1670	+0.557%	$406K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1700	+0.696%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1670	+0.557%	$15.7M	$26.0M	75x
SunX TRUMP-USDT	+0.0100%	4h	2.1710	+0.742%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1700	+0.696%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0135%	4h	2.1670	+0.557%	$4.2M	$664K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1709	+0.740%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1724	+0.806%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0210%	1h	2.1690	+0.650%	$340K	$378K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1720	+0.789%	$281K	$277K	50x	as long as short