Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0121%/8h= −13.2% APRpaid last 24h −0.008%

Price spread now: Binance against Kraken Futures−0.085%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$490.495% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 4 days (all we have)−0.013%−$1 · spread now −0.085%, 7d avg −0.074%

Together, before fees+0.015%+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.074%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1432	−0.0099	get 0.0012% / 1h	37m 58s	$1.3M	$2.3M	50x
Short	Binance TRUMPUSDT	2.1414	−0.0219	pay 0.0110% / 4h	1h 37m	$60.5M	$251.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.085%Rate

Funding earned: −$25.36
Price spread: −0.085% → −0.074%: −$1.05
Slippage, 4 orders: −$29.46
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$75.88
Costs to cover: 0.495%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; Binance: live order book, 6 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 Kraken Futures live order book, 1 min ago	2.33 bp	16.1 bp −$16	28.5 bp −$285	doesn't fit	doesn't fit
Sell Binance live order book, 6 min ago	2.34 bp	8.4 bp −$8	13.9 bp −$139	38.7 bp −$3,867	182.6 bp −$91.3K

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 PERP	−0.1927%	1h	2.1280	−0.710%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1392	−0.189%	$5	—	10x	as long as short
Binance TRUMPUSDTshort	−0.0219%	4h	2.1414	−0.085%	$60.5M	$251.4M	75x
Extended TRUMP-USD	−0.0216%	1h	2.1400	−0.152%	$74K	$735K	25x	as long as short
Variational Omni TRUMP	−0.0152%	4h	2.1401	−0.144%	$661K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0112%	4h	2.1405	−0.125%	$104K	$264K	20x	as long as short
Kraken Futures PF_TRUMPUSDlong	−0.0099%	1h	2.1432	long leg	$1.3M	$2.3M	50x
Gate TRUMP_USDT	−0.0096%	4h	2.1400	−0.150%	$7.7M	$53.6M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0094%	4h	2.1410	−0.103%	$26.5M	$184.7M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0077%	1h	2.1410	−0.103%	$403K	$81K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0073%	4h	2.1410	−0.103%	$30.4M	$52.5M	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0073%	8h	2.1388	−0.205%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0072%	1h	2.1405	−0.127%	$80	$6K	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0060%	4h	2.1390	−0.197%	$5K	$242K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1408	−0.113%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1406	−0.122%	$40K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0020%	4h	2.1390	−0.197%	$4.1M	$685K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1393	−0.182%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0072%	1h	2.1394	−0.178%	$945K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1411	−0.099%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1414	−0.083%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1398	−0.159%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1410	−0.103%	$398K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1400	−0.150%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1400	−0.150%	$15.3M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1400	−0.150%	$177K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1410	−0.103%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1400	−0.150%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1418	−0.066%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1390	−0.197%	$204K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0319%	1h	2.1437	+0.023%	$379K	$415K	10x	as long as short