Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1759%/8h= +192.6% APRpaid last 24h +0.517%

Price spread now: MEXC against Injective+0.414%85s7-day average −0.010% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1151.149% of the position

Long on Injective Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.307%+$31 on $10k

Price spread, last 3 days (all we have)−0.727%−$73 · spread now +0.414%, 7d avg −0.010%

Together, before fees−0.420%−$42 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$53 a day on $10k at the current rate, and MEXC is 0.423% dearer against Injective than usual: you sell high and buy low: +$42 more if the spread goes back to its 7-day average of −0.010%. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.307% in total (about 16.0% 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	2.1750	−0.1659	get 0.0207% / 1h	51m 53s	$13K	$157K	12x
Short	MEXC TRUMP_USDC	2.1840	0.0100	get 0.0050% / 4h	1h 51m	$429K	$142K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.414%Rate

Funding earned: $369.32
Price spread: +0.414% → −0.010%: $42.34
Slippage, 4 orders: −$114.84
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee MEXC: 0 bp × 2 orders: $0
Net: $296.8
Costs to cover: 1.149%
Break-even: 1.4 days

Slippage from Injective: live order book, 62 min ago; MEXC: 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, 62 min ago	47.63 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	4.58 bp	10.0 bp −$10	25.9 bp −$259	129.4 bp −$12.9K	doesn't fit

TRUMP on 30 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	−0.1659%	1h	2.1750	long leg	$13K	$157K	12x
Lighter TRUMP	−0.0280%	1h	2.1836	+0.395%	$973K	$791K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1861	+0.512%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0118%	4h	2.1840	+0.414%	$7.7M	$49.0M	75x	as long as short
SoDEX TRUMP-USD	−0.0024%	1h	2.1845	+0.437%	$85	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1886	+0.626%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1847	+0.446%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1865	+0.527%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1853	+0.472%	$106K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0053%	8h	2.1855	+0.481%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0083%	4h	2.1830	+0.368%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1868	+0.541%	$14.4M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1856	+0.489%	$432K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1878	+0.589%	$188K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1850	+0.460%	$63.4M	$234.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1840	+0.414%	$31.3M	$48.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1840	+0.414%	$28.3M	$168.7M	50x	as long as short
MEXC TRUMP_USDCshort	+0.0100%	4h	2.1840	+0.414%	$429K	$142K	125x
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1850	+0.460%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1850	+0.460%	$15.7M	$24.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1868	+0.543%	$257K	$314K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1971	+1.018%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1859	+0.502%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1870	+0.552%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1860	+0.506%	$535K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1834	+0.387%	$116K	$705K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1830	+0.368%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1870	+0.553%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0287%	1h	2.1877	+0.586%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.2000	+1.149%	$285K	$303K	50x	as long as short