TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0090%/8h= −9.8% APRnext payment −$0.11 per $10,000 · paid last 24h −0.047%

Price spread now: Deribit against Kraken Futures−0.127%7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$67as in the Price arb table

costs, in and out, $10k−$580.585% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.097%−$10 on $10k

Price spread, last 4 days (all we have)+0.075%+$7 · spread now −0.127%, 7d avg −0.045%

Together, before fees−0.022%−$2 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Deribit is 0.082% cheaper against Kraken Futures than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.045%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1600	0.0016	pay 0.0002% / 1h	11m 20s	$1.3M	$2.1M	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1573	−0.0074	pay 0.0009% / 1h	11m 20s	$387K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.127%Rate

Funding earned: −$18.88
Price spread: −0.127% → −0.045%: −$8.21
Slippage, 4 orders: −$41.47
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$85.56
Costs to cover: 0.585%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 5 min ago; Deribit: live order book, 40 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	2.31 bp	14.7 bp −$15	21.8 bp −$218	doesn't fit	doesn't fit
Sell Deribit live order book, 40 min ago	5.58 bp	10.5 bp −$10	19.3 bp −$193	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 PERP	−0.1841%	1h	2.1600	−0.002%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0368%	4h	2.1560	−0.185%	$669K	$403K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0327%	4h	2.1540	−0.280%	$27.3M	$176.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0320%	1h	2.1565	−0.164%	$67	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0315%	4h	2.1560	−0.187%	$31.4M	$49.3M	50x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1548	−0.242%	$74K	$496K	25x	as long as short
Binance TRUMPUSDT	−0.0301%	4h	2.1557	−0.202%	$63.3M	$241.1M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1548	−0.244%	$5	—	10x	as long as short
Lighter TRUMP	−0.0240%	1h	2.1560	−0.187%	$931K	$980K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.372%	$132K	$517K	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0234%	4h	2.1560	−0.187%	$7.8M	$48.6M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0204%	8h	2.1554	−0.217%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1555	−0.208%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0126%	4h	2.1560	−0.187%	$4.2M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0108%	4h	2.1540	−0.280%	$393K	$152K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0076%	4h	2.1550	−0.233%	$5K	$310K	10x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	−0.0074%	1h	2.1573	−0.127%	$387K	$78K	10x
BloFin TRUMP-USDT	−0.0061%	4h	2.1560	−0.187%	$4.3M	$680K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1560	−0.187%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1575	−0.116%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1547	−0.249%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1572	−0.133%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0016%	1h	2.1600	long leg	$1.3M	$2.1M	50x
GRVT TRUMP_USDT_Perp	+0.0032%	4h	2.1546	−0.253%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1575	−0.118%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1564	−0.168%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1577	−0.108%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	−0.141%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	−0.094%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1570	−0.141%	$101K	$261K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0189% / S −0.0184%	1h	2.1568	−0.149%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0229%	1h	2.1592	−0.039%	$386K	$403K	10x	as long as short