TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0185%/8h= −20.2% APRnext payment −$0.23 per $10,000 · paid last 24h +0.012%

Price spread now: Extended against Kraken Futures−0.085%7-day average −0.118% · you buy dearer than you sell

Net, funding: paid 7d − costs−$48as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$550.548% of the position

Long on Kraken Futures Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.065%+$6 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.085%, 7d avg −0.118%

Together, before fees+0.208%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Extended is 0.033% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.085% now, against its 7-day average of −0.118%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 14 hours. Mind the row above: over the last 7 days funding on this pair paid +0.065%, 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 0.065% in total (about 3.4% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.23 per $10,000. 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	2.1743	0.0289	pay 0.0036% / 1h	47m 00s	$1.3M	$2.2M	50x
Short	Extended TRUMP-USD	2.1725	0.0104	get 0.0013% / 1h	47m 00s	$115K	$705K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now −0.085%Rate

Funding earned: −$38.76
Price spread: −0.085% → −0.118%: $3.27
Slippage, 4 orders: −$39.78
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$90.26
Costs to cover: 0.548%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 2 min ago; Extended: live order book, 16 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, 2 min ago	6.89 bp	19.7 bp −$20	30.4 bp −$304	doesn't fit	doesn't fit
Sell Extended live order book, 16 min ago	4.56 bp	7.7 bp −$8	28.1 bp −$281	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 PERP	−0.1659%	1h	2.1620	−0.568%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1716	−0.124%	$5	—	10x	as long as short
Lighter TRUMP	−0.0136%	1h	2.1710	−0.154%	$967K	$792K	10x	as long as short
Gate TRUMP_USDT	−0.0098%	4h	2.1730	−0.062%	$7.6M	$49.4M	75x	as long as short
SoDEX TRUMP-USD	−0.0036%	1h	2.1715	−0.131%	$82	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1756	+0.057%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1731	−0.057%	$409K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1734	−0.042%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0049%	8h	2.1737	−0.028%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1709	−0.161%	$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
Orderly PERP_TRUMP_USDC	+0.0080%	4h	2.1720	−0.108%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1730	−0.062%	$14.3M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1729	−0.066%	$430K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1749	+0.026%	$187K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1716	−0.125%	$62.9M	$235.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1700	−0.200%	$31.1M	$48.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1710	−0.154%	$27.8M	$169.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1720	−0.108%	$426K	$142K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1730	−0.062%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1740	−0.016%	$15.6M	$24.9M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1740	−0.016%	$255K	$317K	10x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1831	+0.402%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1850	+0.490%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1760	+0.076%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1740	−0.016%	$532K	$2.0M	50x	as long as short
Extended TRUMP-USDshort	+0.0104%	1h	2.1725	−0.085%	$115K	$705K	25x
Aevo TRUMP-PERP	+0.0104%	1h	2.1710	−0.154%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1731	−0.058%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0289%	1h	2.1743	long leg	$1.3M	$2.2M	50x
BloFin TRUMP-USDT	+0.0340%	4h	2.1730	−0.062%	—	$655K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1710	−0.154%	$281K	$300K	50x	as long as short