Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.1673%/8h= +183.2% APRpaid last 24h +0.504%

Price spread now: edgeX against Injective+1.211%7-day average +0.029% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$10as in the Price arb table

costs, in and out, $10k−$1281.280% of the position

Long on Injective Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.377%+$38 on $10k

Price spread, last 3 days (all we have)−1.433%−$143 · spread now +1.211%, 7d avg +0.029%

Together, before fees−1.056%+ Points / potential airdropedgeX: Active · farm board−$106 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$50 a day on $10k at the current rate, and edgeX is 1.182% dearer against Injective than usual: you sell high and buy low: +$118 more if the spread goes back to its 7-day average of +0.029%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.377% in total (about 19.7% 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	2.1980	−0.1623	get 0.0203% / 1h	38m 17s	$13K	$157K	12x
Short	edgeX TRUMPUSDC	2.2246	0.0050	get 0.0025% / 4h	2h 38m	$108K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now +1.211%Rate

Funding earned: $351.38
Price spread: +1.211% → +0.029%: $118.21
Slippage, 4 orders: −$118.98
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $341.58
Costs to cover: 1.280%
Break-even: 0.2 days

Slippage from Injective: live order book, 16 min ago; edgeX: live order book, 29 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, 16 min ago	47.63 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 29 min ago	8.92 bp	16.8 bp −$17	43.1 bp −$431	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 PERPlong	−0.1623%	1h	2.1980	long leg	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2027	+0.212%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0023%	1h	2.1974	−0.027%	$414K	$80K	10x	as long as short
Gate TRUMP_USDT	−0.0018%	4h	2.2000	+0.091%	$7.8M	$48.7M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.344%	$28K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1995	+0.068%	$43K	—	150x	as long as short
edgeX TRUMPUSDCshort	+0.0050%	4h	2.2246	+1.211%	$108K	$262K	20x
Paradex TRUMP-USD-PERP	+0.0077%	8h	2.2044	+0.290%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1980	0.000%	$3K	$237K	10x	as long as short
SoDEX TRUMP-USD	+0.0094%	1h	2.1958	−0.100%	$80	$6K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.1958	−0.100%	$976K	$789K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2054	+0.337%	$14.7M	$7.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2031	+0.231%	$436K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2050	+0.318%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1960	−0.091%	$63.8M	$236.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1960	−0.091%	$31.4M	$48.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1980	0.000%	$28.8M	$169.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2020	+0.182%	$439K	$145K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2030	+0.227%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1980	0.000%	$15.7M	$24.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2072	+0.417%	$698K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2068	+0.400%	$181K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	+0.136%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	+0.136%	$564K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1960	−0.092%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1917	−0.285%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1991	+0.050%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0315%	1h	2.2123	+0.651%	$259K	$323K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+1.137%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1979	−0.006%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	+0.546%	$286K	$307K	50x	as long as short