TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1857%/8h= +203.3% APRnext payment +$2.32 per $10,000 · paid last 24h +0.536%

Price spread now: Kraken Futures against Injective−0.085%7-day average +0.168% · you buy dearer than you sell

Net, funding: paid 7d − costs−$85as in the Funding arb table

Net, price: spread back to 7d avg − costs−$158as in the Price arb table

costs, in and out, $10k−$1331.329% of the position

Long on Injective Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.474%+$47 on $10k

Price spread, last 4 days (all we have)+0.499%+$50 · spread now −0.085%, 7d avg +0.168%

Together, before fees+0.974%+$97 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.253% cheaper against Injective than usual: you would sell low and buy high (spread −0.085% now, against its 7-day average of +0.168%). If the spread goes back, that is −$25 on $10k: about 11 hours of funding at the current rate (+$56 a day). At the pace of the last 7 days (+0.474% in total) that is about 3.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.474% in total (about 24.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.32 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TRUMP/USDC PERP	2.1600	−0.1841	get 0.0230% / 1h	16m 25s	$13K	$157K	12x
Short	Kraken Futures PF_TRUMPUSD	2.1582	0.0016	get 0.0002% / 1h	16m 25s	$1.3M	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.085%Rate

Funding earned: $389.95
Price spread: −0.085% → +0.168%: −$25.32
Slippage, 4 orders: −$122.89
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $231.71
Costs to cover: 1.329%
Break-even: 2.8 days

Slippage from Injective: live order book, 35 min ago; Kraken Futures: live order book, 5 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, 35 min ago	39.58 bp	58.1 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 5 min ago	4.63 bp	16.0 bp −$16	24.2 bp −$242	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
Injective TRUMP/USDC PERPlong	−0.1841%	1h	2.1600	long leg	$13K	$157K	12x
Variational Omni TRUMP	−0.0390%	4h	2.1541	−0.275%	$669K	$403K	—	as long as short
Bybit TRUMPUSDT	−0.0336%	4h	2.1570	−0.139%	$31.4M	$49.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0334%	4h	2.1570	−0.139%	$27.3M	$177.4M	50x	as long as short
SoDEX TRUMP-USD	−0.0329%	1h	2.1549	−0.236%	$67	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0299%	4h	2.1580	−0.093%	$63.4M	$241.1M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1558	−0.192%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0264%	1h	2.1556	−0.204%	$932K	$979K	10x	as long as short
Gate TRUMP_USDT	−0.0250%	4h	2.1560	−0.185%	$7.8M	$48.5M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1570	−0.137%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.370%	$133K	$516K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0215%	8h	2.1556	−0.203%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0214%	1h	2.1560	−0.185%	$387K	$78K	10x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1525	−0.347%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0122%	4h	2.1550	−0.231%	$4.2M	$10.3M	50x	as long as short
MEXC TRUMP_USDC	−0.0090%	4h	2.1560	−0.185%	$393K	$151K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0078%	4h	2.1560	−0.185%	$5K	$312K	10x	as long as short
BloFin TRUMP-USDT	−0.0057%	4h	2.1570	−0.139%	$4.3M	$681K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1580	−0.093%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	−0.113%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1535	−0.299%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1584	−0.075%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0016%	1h	2.1582	−0.085%	$1.3M	$2.1M	50x
GRVT TRUMP_USDT_Perp	+0.0028%	4h	2.1537	−0.294%	$178K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1595	−0.023%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1580	−0.093%	$407K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1579	−0.097%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	−0.139%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	−0.185%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1560	−0.185%	$93K	$246K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0187% / S −0.0181%	1h	2.1548	−0.242%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0222%	1h	2.1581	−0.088%	$386K	$402K	10x	as long as short