Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.1717%/8h= +188.1% APRpaid last 24h +0.526%

Price spread now: KuCoin against Injective+0.185%7-day average +0.100% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1421.420% of the position

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.572%+$57 on $10k

Price spread, last 4 days (all we have)+0.194%+$19 · spread now +0.185%, 7d avg +0.100%

Together, before fees+0.766%+$77 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$52 a day on $10k at the current rate, and KuCoin is 0.085% dearer against Injective than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.100%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.572% in total (about 29.8% a year). A funding rate is set anew for every payment. 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	4m 40s	$13K	$157K	12x
Short	KuCoin TRUMPUSDTM	2.1640	−0.0124	pay 0.0062% / 4h	2h 04m	$4.3M	$10.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.185%Rate

Funding earned: $360.64
Price spread: +0.185% → +0.100%: $8.53
Slippage, 4 orders: −$130
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: $227.16
Costs to cover: 1.420%
Break-even: 2.6 days

Slippage from Injective: live order book, 47 min ago; KuCoin: 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, 47 min ago	39.58 bp	58.1 bp −$58	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	2.31 bp	18.5 bp −$19	153.7 bp −$1,537	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	−0.0357%	4h	2.1610	+0.046%	$670K	$402K	—	as long as short
Bybit TRUMPUSDT	−0.0315%	4h	2.1620	+0.093%	$31.5M	$48.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0314%	4h	2.1610	+0.046%	$27.4M	$175.3M	50x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1618	+0.084%	$75K	$496K	25x	as long as short
Binance TRUMPUSDT	−0.0301%	4h	2.1624	+0.111%	$63.5M	$239.3M	75x	as long as short
SoDEX TRUMP-USD	−0.0279%	1h	2.1615	+0.069%	$69	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1580	−0.094%	$5	—	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.370%	$132K	$517K	50x	as long as short
Gate TRUMP_USDT	−0.0220%	4h	2.1630	+0.139%	$7.8M	$48.6M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0208%	1h	2.1628	+0.130%	$933K	$982K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0184%	8h	2.1615	+0.068%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0150%	4h	2.1572	−0.131%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTMshort	−0.0124%	4h	2.1640	+0.185%	$4.3M	$10.2M	50x
MEXC TRUMP_USDC	−0.0120%	4h	2.1620	+0.093%	$394K	$152K	125x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0120%	1h	2.1631	+0.144%	$388K	$80K	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0078%	4h	2.1630	+0.139%	$5K	$309K	10x	as long as short
BloFin TRUMP-USDT	−0.0061%	4h	2.1630	+0.139%	$4.3M	$677K	75x	as long as short
Bitget TRUMPUSDT	−0.0012%	4h	2.1640	+0.185%	$15.5M	$25.4M	75x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1644	+0.204%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1610	+0.046%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1634	+0.156%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0015%	1h	2.1644	+0.205%	$1.3M	$2.0M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0048%	4h	2.1624	+0.110%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1659	+0.273%	$13.7M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1634	+0.157%	$408K	$643K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1633	+0.151%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1680	+0.370%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1650	+0.231%	$498K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1610	+0.046%	$118K	$295K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0191% / S −0.0186%	1h	2.1629	+0.135%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0270%	1h	2.1657	+0.264%	$383K	$400K	10x	as long as short