Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0120%/8h= −13.2% APRpaid last 24h +0.011%

Price spread now: SunX against Kraken Futures−0.013%7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$164as in the Funding arb table

Net, price: spread back to 7d avg − costs−$196as in the Price arb table

costs, in and out, $10k−$1931.926% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.281%+$28 on $10k

Price spread, last 4 days (all we have)+0.051%+$5 · spread now −0.013%, 7d avg +0.023%

Together, before fees+0.332%+$33 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and SunX is 0.036% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of +0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.281%, 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	2.1543	0.0220	pay 0.0028% / 1h	7m 46s	$1.3M	$2.2M	50x
Short	SunX TRUMP-USDT	2.1540	0.0100	get 0.0050% / 4h	7m 46s	$2K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.013%Rate

Funding earned: −$25.27
Price spread: −0.013% → +0.023%: −$3.64
Slippage, 4 orders: −$174.58
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$221.49
Costs to cover: 1.926%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; SunX: live order book, 7 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	2.32 bp	18.1 bp −$18	30.0 bp −$300	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	32.48 bp	93.3 bp −$93	doesn't fit	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	−0.1690%	1h	2.1420	−0.570%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1511	−0.146%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0096%	1h	2.1515	−0.129%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0042%	4h	2.1520	−0.106%	$7.6M	$51.2M	75x	as long as short
Binance TRUMPUSDT	−0.0024%	4h	2.1497	−0.211%	$60.4M	$242.2M	75x	as long as short
Extended TRUMP-USD	−0.0024%	1h	2.1499	−0.204%	$74K	$721K	25x	as long as short
Variational Omni TRUMP	−0.0011%	4h	2.1571	+0.131%	$666K	$488K	—	as long as short
Lighter TRUMP	−0.0008%	1h	2.1502	−0.189%	$951K	$957K	10x	as long as short
edgeX TRUMPUSDC	−0.0008%	4h	2.1571	+0.131%	$105K	$263K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1516	−0.124%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1523	−0.092%	$405K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1524	−0.087%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0035%	8h	2.1501	−0.195%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0043%	4h	2.1510	−0.152%	$4K	$199K	10x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1505	−0.176%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1523	−0.092%	$13.6M	$7.9M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1519	−0.111%	$422K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1511	−0.149%	$185K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1490	−0.245%	$30.4M	$49.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1490	−0.245%	$27.2M	$173.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	−0.152%	$404K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1510	−0.152%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1520	−0.106%	$15.5M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1535	−0.036%	$342K	$366K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1540	−0.013%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1540	−0.013%	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1530	−0.060%	$502K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1521	−0.102%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0220%	4h	2.1540	−0.013%	$4.1M	$682K	75x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0220%	1h	2.1543	long leg	$1.3M	$2.2M	50x
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1530	−0.060%	$278K	$276K	50x	as long as short