TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0293%/8h= −32.1% APRnext payment −$0.37 per $10,000 · paid last 24h −0.520%

Price spread now: Injective against Kraken Futures−0.564%63s7-day average −0.162% · you buy dearer than you sell

Net, funding: paid 7d − costs−$183as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1331.325% of the position

Long on Kraken Futures Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.505%−$51 on $10k

Price spread, last 4 days (all we have)+0.369%+$37 · spread now −0.564%, 7d avg −0.162%

Together, before fees−0.136%−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Injective is 0.402% cheaper against Kraken Futures than usual: you would sell low and buy high (−$40 if the spread goes back to its 7-day average of −0.162%). Swap the legs. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1471	0.0326	pay 0.0041% / 1h	43m 26s	$1.4M	$2.1M	50x
Short	Injective TRUMP/USDC PERP	2.1350	0.0033	get 0.0004% / 1h	43m 26s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −0.564%Rate

Funding earned: −$61.49
Price spread: −0.564% → −0.162%: −$40.2
Slippage, 4 orders: −$122.52
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$234.23
Costs to cover: 1.325%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Injective: live order book, 63 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, 3 min ago	4.67 bp	19.1 bp −$19	30.1 bp −$301	doesn't fit	doesn't fit
Sell Injective live order book, 63 min ago	30.32 bp	35.3 bp −$35	doesn't fit	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
SoDEX TRUMP-USD	−0.0428%	1h	2.1435	−0.169%	$78	$6K	5x	as long as short
Extended TRUMP-USD	−0.0392%	1h	2.1448	−0.109%	$76K	$486K	25x	as long as short
Binance TRUMPUSDT	−0.0389%	4h	2.1460	−0.052%	$62.8M	$235.2M	75x	as long as short
Variational Omni TRUMP	−0.0388%	4h	2.1350	−0.567%	$665K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0341%	4h	2.1460	−0.052%	$31.2M	$47.9M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.937%	$125K	$520K	50x	as long as short
Lighter TRUMP	−0.0312%	1h	2.1440	−0.145%	$917K	$929K	10x	as long as short
MEXC TRUMP_USDC	−0.0288%	4h	2.1440	−0.145%	$388K	$142K	125x	as long as short
OKX TRUMP-USDT-SWAP	−0.0273%	4h	2.1470	−0.006%	$27.3M	$172.1M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1450	−0.101%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TRUMPUSDTM	−0.0228%	4h	2.1460	−0.052%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0204%	4h	2.1460	−0.052%	$7.7M	$46.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0194%	4h	2.1392	−0.367%	$104K	$254K	20x	as long as short
BloFin TRUMP-USDT	−0.0148%	4h	2.1420	−0.238%	$4.3M	$657K	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0145%	8h	2.1452	−0.090%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0123%	1h	2.1448	−0.108%	$385K	$67K	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0090%	4h	2.1460	−0.052%	$5K	$290K	10x	as long as short
Bitget TRUMPUSDT	−0.0030%	4h	2.1470	−0.006%	$15.5M	$24.6M	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1454	−0.078%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1455	−0.078%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0006%	4h	2.1435	−0.168%	$170K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1471	0.000%	$40K	—	150x	as long as short
Injective TRUMP/USDC PERPshort	+0.0033%	1h	2.1350	−0.564%	$12K	$157K	12x
Hyperliquid TRUMP	+0.0100%	1h	2.1463	−0.038%	$13.6M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1460	−0.052%	$405K	$646K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1446	−0.115%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	−0.052%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1450	−0.099%	$477K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1440	−0.145%	$285K	$626K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0206%	1h	2.1470	−0.006%	$382K	$388K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0221% / S −0.0224%	1h	2.1476	+0.021%	$11K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0326%	1h	2.1471	long leg	$1.4M	$2.1M	50x