Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1790%/8h= +196.0% APRpaid last 24h +0.520%

Price spread now: SunX against Injective+0.515%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$201as in the Funding arb table

Net, price: spread back to 7d avg − costs−$225as in the Price arb table

costs, in and out, $10k−$2602.600% of the position

Long on Injective Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.591%+$59 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now +0.515%, 7d avg +0.166%

Together, before fees+0.528%+$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and SunX is 0.349% dearer against Injective than usual: you sell high and buy low: +$35 more if the spread goes back to its 7-day average of +0.166%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.591% in total (about 30.8% 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	2.1350	−0.1690	get 0.0211% / 1h	37m 16s	$12K	$157K	12x
Short	SunX TRUMP-USDT	2.1460	0.0100	get 0.0050% / 4h	37m 16s	$2K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.515%Rate

Funding earned: $375.8
Price spread: +0.515% → +0.166%: $34.91
Slippage, 4 orders: −$252
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee SunX: 4 bp × 2 orders: −$8
Net: $150.69
Costs to cover: 2.600%
Break-even: 4.2 days

Slippage from Injective: live order book, 7 min ago; SunX: live order book, 8 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, 7 min ago	48.76 bp	48.8 bp −$49	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	32.56 bp	96.8 bp −$97	doesn't fit	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	−0.1690%	1h	2.1350	long leg	$12K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1417	+0.312%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0240%	1h	2.1435	+0.398%	$95	$6K	5x	as long as short
Lighter TRUMP	−0.0192%	1h	2.1430	+0.375%	$948K	$933K	10x	as long as short
Gate TRUMP_USDT	−0.0082%	4h	2.1430	+0.375%	$7.6M	$50.6M	75x	as long as short
Variational Omni TRUMP	−0.0012%	4h	2.1461	+0.520%	$657K	$482K	—	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1456	+0.497%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1427	+0.361%	$403K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1437	+0.406%	$40K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0011%	4h	2.1436	+0.400%	$105K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	+0.0011%	8h	2.1446	+0.451%	$5K	$175	5x	as long as short
Binance TRUMPUSDT	+0.0015%	4h	2.1420	+0.328%	$60.2M	$241.3M	75x	as long as short
Extended TRUMP-USD	+0.0016%	1h	2.1420	+0.326%	$74K	$749K	25x	as long as short
Bybit TRUMPUSDT	+0.0017%	4h	2.1430	+0.375%	$30.4M	$49.3M	50x	as long as short
Orderly PERP_TRUMP_USDC	+0.0047%	4h	2.1420	+0.328%	$4K	$212K	10x	as long as short
BloFin TRUMP-USDT	+0.0061%	4h	2.1450	+0.468%	$4.1M	$676K	75x	as long as short
Aevo TRUMP-PERP	+0.0088%	1h	2.1415	+0.304%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1428	+0.365%	$14.2M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1445	+0.444%	$420K	$828K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1453	+0.483%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1420	+0.328%	$27.2M	$172.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1430	+0.375%	$403K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1420	+0.328%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1430	+0.375%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1459	+0.511%	$251K	$316K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1520	+0.798%	$185K	$4.5M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1460	+0.515%	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1400	+0.234%	$496K	$2.1M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1439	+0.416%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1459	+0.511%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1470	+0.562%	$278K	$279K	50x	as long as short