Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1972%/8h= +215.9% APRpaid last 24h +0.582%

Price spread now: BloFin against Injective+0.422%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$1101.102% of the position

Long on Injective Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.829%+$83 on $10k

Price spread, last 4 days (all we have)−0.498%−$50 · spread now +0.422%, 7d avg +0.075%

Together, before fees+0.331%+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$59 a day on $10k at the current rate, and BloFin is 0.347% dearer against Injective than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.075%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.829% in total (about 43.2% 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	2.1320	−0.1927	get 0.0241% / 1h	26m 24s	$12K	$157K	12x
Short	BloFin TRUMP-USDT	2.1410	0.0045	get 0.0022% / 4h	1h 26m	$4.1M	$683K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.422%Rate

Funding earned: $414.04
Price spread: +0.422% → +0.075%: $34.69
Slippage, 4 orders: −$98.21
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee BloFin: 6 bp × 2 orders: −$12
Net: $338.5
Costs to cover: 1.102%
Break-even: 1.3 days

Slippage from Injective: live order book, 3 min ago; BloFin: 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 Injective live order book, 3 min ago	39.78 bp	53.8 bp −$54	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	2.34 bp	8.3 bp −$8	16.8 bp −$168	36.0 bp −$3,604	91.5 bp −$45.8K

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	−0.1927%	1h	2.1320	long leg	$12K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1492	+0.805%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0195%	4h	2.1499	+0.841%	$60.6M	$251.8M	75x	as long as short
Extended TRUMP-USD	−0.0192%	1h	2.1480	+0.750%	$74K	$583K	25x	as long as short
Variational Omni TRUMP	−0.0145%	4h	2.1381	+0.287%	$660K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0100%	4h	2.1400	+0.377%	$104K	$264K	20x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0098%	1h	2.1456	+0.637%	$1.3M	$2.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0097%	4h	2.1490	+0.797%	$26.5M	$185.3M	50x	as long as short
Bybit TRUMPUSDT	−0.0067%	4h	2.1510	+0.891%	$30.6M	$52.5M	50x	as long as short
Gate TRUMP_USDT	−0.0064%	4h	2.1470	+0.704%	$7.7M	$53.7M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	−0.0059%	4h	2.1420	+0.469%	$5K	$248K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0048%	8h	2.1484	+0.771%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0013%	1h	2.1425	+0.492%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1504	+0.863%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1439	+0.558%	$404K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1505	+0.868%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1420	+0.469%	$19K	—	3x	as long as short
BloFin TRUMP-USDTshort	+0.0045%	4h	2.1410	+0.422%	$4.1M	$683K	75x
Lighter TRUMP	+0.0096%	1h	2.1471	+0.708%	$948K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1506	+0.872%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1504	+0.863%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1480	+0.751%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1500	+0.844%	$400K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1500	+0.844%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1510	+0.891%	$15.3M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1390	+0.328%	$175K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	+0.657%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	+0.657%	$482K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1449	+0.603%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1430	+0.516%	$203K	$424K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0385%	1h	2.1468	+0.694%	$380K	$417K	10x	as long as short