Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0071%/8h= −7.7% APRpaid last 24h +0.005%

Price spread now: HTX against Kraken Futures+0.025%7-day average +0.022% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$880.882% of the position

Long on Kraken Futures Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.272%+$27 on $10k

Price spread, last 4 days (all we have)−0.125%−$12 · spread now +0.025%, 7d avg +0.022%

Together, before fees+0.147%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.022%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.272%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1925	0.0171	pay 0.0021% / 1h	37m 10s	$1.3M	$2.2M	50x
Short	HTX TRUMP-USDT	2.1930	0.0100	get 0.0050% / 4h	3h 37m	$499K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now +0.025%Rate

Funding earned: −$14.84
Price spread: +0.025% → +0.022%: $0.33
Slippage, 4 orders: −$66.16
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$102.67
Costs to cover: 0.882%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; HTX: live order book, 2 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	4.56 bp	16.2 bp −$16	23.4 bp −$234	doesn't fit	doesn't fit
Sell HTX live order book, 2 min ago	11.43 bp	23.8 bp −$24	36.1 bp −$361	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	−0.1765%	1h	2.1690	−1.070%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1881	−0.197%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0182%	1h	2.1895	−0.135%	$93	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0101%	4h	2.1920	−0.021%	$31.1M	$50.1M	50x	as long as short
Extended TRUMP-USD	−0.0064%	1h	2.1891	−0.152%	$75K	$721K	25x	as long as short
Binance TRUMPUSDT	−0.0060%	4h	2.1910	−0.066%	$62.1M	$245.2M	75x	as long as short
Variational Omni TRUMP	−0.0032%	4h	2.1791	−0.608%	$676K	$513K	—	as long as short
edgeX TRUMPUSDC	−0.0028%	4h	2.1794	−0.595%	$106K	$264K	20x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1886	−0.175%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1905	−0.089%	$412K	$72K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1907	−0.080%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0031%	4h	2.1880	−0.203%	$4K	$174K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0036%	8h	2.1880	−0.204%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	+0.0058%	4h	2.1890	−0.158%	$7.9M	$51.4M	75x	as long as short
Aevo TRUMP-PERP	+0.0064%	1h	2.1880	−0.201%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1897	−0.126%	$970K	$969K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1900	−0.112%	$13.9M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1894	−0.140%	$429K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1887	−0.171%	$188K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1910	−0.066%	$28.0M	$180.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1900	−0.112%	$411K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1910	−0.066%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1920	−0.021%	$15.9M	$25.8M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1796	−0.585%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1900	−0.112%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1930	+0.025%	$499K	$2.3M	50x
Kraken Futures PF_TRUMPUSDlong	+0.0171%	1h	2.1925	long leg	$1.3M	$2.2M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1909	−0.073%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0180%	4h	2.1870	−0.249%	$4.2M	$683K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0373%	1h	2.1939	+0.066%	$344K	$376K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1840	−0.386%	$282K	$278K	50x	as long as short