Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0414%/8h= −45.3% APRpaid last 24h +0.018%

Price spread now: Bitget against Kraken Futures+0.006%7-day average −0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$640.640% of the position

Long on Kraken Futures Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.194%+$19 on $10k

Price spread, last 3 days (all we have)−0.117%−$12 · spread now +0.006%, 7d avg −0.074%

Together, before fees+0.077%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.080% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.074%): +$8 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 15 hours. Mind the row above: over the last 7 days funding on this pair paid +0.194%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.194% in total (about 10.1% 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	Kraken Futures PF_TRUMPUSD	2.1979	0.0514	pay 0.0064% / 1h	38m 13s	$1.3M	$2.3M	50x
Short	Bitget TRUMPUSDT	2.1980	0.0100	get 0.0050% / 4h	2h 38m	$15.7M	$24.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$86.87
Price spread: +0.006% → −0.074%: $8
Slippage, 4 orders: −$42.01
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$142.88
Costs to cover: 0.640%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Bitget: 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, 5 min ago	4.49 bp	15.5 bp −$15	34.7 bp −$347	doesn't fit	doesn't fit
Sell Bitget live order book, 6 min ago	4.49 bp	10.5 bp −$10	13.7 bp −$137	68.0 bp −$6,798	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 PERP	−0.1623%	1h	2.1980	+0.006%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2027	+0.218%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0023%	1h	2.1974	−0.022%	$414K	$80K	10x	as long as short
Gate TRUMP_USDT	−0.0018%	4h	2.2000	+0.097%	$7.8M	$48.7M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.350%	$28K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1995	+0.073%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2246	+1.217%	$108K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0077%	8h	2.2044	+0.295%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1980	+0.006%	$3K	$237K	10x	as long as short
SoDEX TRUMP-USD	+0.0094%	1h	2.1958	−0.095%	$80	$6K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.1958	−0.095%	$976K	$789K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2054	+0.342%	$14.7M	$7.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2031	+0.237%	$436K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2050	+0.324%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1960	−0.085%	$63.8M	$236.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1960	−0.085%	$31.4M	$48.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1980	+0.006%	$28.8M	$169.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2020	+0.188%	$439K	$145K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2030	+0.233%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1980	+0.006%	$15.7M	$24.2M	75x
Variational Omni TRUMP	+0.0100%	4h	2.2072	+0.422%	$698K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2068	+0.406%	$181K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	+0.142%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	+0.142%	$564K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1960	−0.086%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1917	−0.279%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1991	+0.056%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0315%	1h	2.2123	+0.656%	$259K	$323K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+1.143%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0514%	1h	2.1979	long leg	$1.3M	$2.3M	50x
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	+0.552%	$286K	$307K	50x	as long as short