Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1813%/8h= −198.5% APRpaid last 24h −0.526%

Price spread now: Injective against KuCoin−0.465%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1251.247% of the position

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.514%−$51 on $10k

Price spread, last 4 days (all we have)+0.683%+$68 · spread now −0.465%, 7d avg −0.090%

Together, before fees+0.169%+$17 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$54 a day on $10k at the current rate, and Injective is 0.375% cheaper against KuCoin than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.090%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.514% in total (about -26.8% a year). A funding rate is set anew for every payment. 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	KuCoin TRUMPUSDTM	2.1510	0.0016	pay 0.0008% / 4h	6m 53s	$4.1M	$10.8M	50x
Short	Injective TRUMP/USDC PERP	2.1410	−0.1797	pay 0.0225% / 1h	6m 53s	$12K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −0.465%Rate

Funding earned: −$380.66
Price spread: −0.465% → −0.090%: −$37.47
Slippage, 4 orders: −$112.72
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$542.87
Costs to cover: 1.247%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; Injective: live order book, 17 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 KuCoin live order book, 2 min ago	2.32 bp	13.9 bp −$14	90.2 bp −$902	doesn't fit	doesn't fit
Sell Injective live order book, 17 min ago	35.19 bp	35.2 bp −$35	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 PERPshort	−0.1797%	1h	2.1410	−0.465%	$12K	$157K	12x
SoDEX TRUMP-USD	−0.0370%	1h	2.1495	−0.070%	$76	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0261%	1h	2.1518	+0.037%	$405K	$65K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1502	−0.036%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0243%	4h	2.1482	−0.129%	$663K	$423K	—	as long as short
Bybit TRUMPUSDT	−0.0200%	4h	2.1510	0.000%	$30.5M	$52.2M	50x	as long as short
Extended TRUMP-USD	−0.0192%	1h	2.1500	−0.047%	$74K	$496K	25x	as long as short
OKX TRUMP-USDT-SWAP	−0.0189%	4h	2.1500	−0.046%	$26.8M	$184.1M	50x	as long as short
Binance TRUMPUSDT	−0.0189%	4h	2.1510	0.000%	$60.8M	$249.5M	75x	as long as short
Lighter TRUMP	−0.0184%	1h	2.1502	−0.037%	$940K	$1.0M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0111%	8h	2.1486	−0.113%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0104%	4h	2.1510	0.000%	$7.7M	$53.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0094%	4h	2.1479	−0.142%	$105K	$252K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0074%	4h	2.1500	−0.046%	$5K	$280K	10x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1531	+0.098%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1526	+0.073%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTMlong	+0.0016%	4h	2.1510	long leg	$4.1M	$10.8M	50x
Aevo TRUMP-PERP	+0.0032%	1h	2.1495	−0.070%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0051%	4h	2.1510	0.000%	$4.1M	$689K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.837%	$167K	$479K	50x	as long as short
Bitget TRUMPUSDT	+0.0076%	4h	2.1520	+0.046%	$15.3M	$27.0M	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1531	+0.098%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1529	+0.086%	$404K	$776K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1509	−0.005%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1510	0.000%	$399K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1497	−0.062%	$179K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1520	+0.046%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1520	+0.046%	$495K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1517	+0.031%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0301%	1h	2.1542	+0.149%	$383K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0597%	1h	2.1528	+0.083%	$1.3M	$2.3M	50x	as long as short