Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0400%/8h= +43.8% APRpaid last 24h +0.094%

Price spread now: Coinbase International against Orderly+0.741%7-day average +0.102% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.199%+$20 on $10k

Price spread, last 4 days (all we have)−0.694%−$69 · spread now +0.741%, 7d avg +0.102%

Together, before fees−0.495%−$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.639% dearer against Orderly than usual: you sell high and buy low: +$64 more if the spread goes back to its 7-day average of +0.102%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.199% in total (about 10.4% 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	Orderly PERP_TRUMP_USDC	2.1590	0.0000	get 0.0000% / 4h	3h 06m	$5K	$199K	10x
Short	Coinbase International TRUMP-PERP-INTX	2.1750	0.0400	get 0.0050% / 1h	6m 40s	$284K	$278K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Orderly. 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 OrderlybpFee Coinbase InternationalbpOrdersPrice spread, now +0.741%Rate

Funding earned: $84.03
Price spread: +0.741% → +0.102%: $63.91
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $131.94
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Coinbase International: live order book, 46 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Coinbase International live order book, 46 min ago	13.74 bp	22.5 bp −$23	25.3 bp −$253	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.1520	−0.324%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0372%	1h	2.1600	+0.046%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0249%	8h	2.1608	+0.085%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1591	+0.006%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0213%	1h	2.1604	+0.065%	$407K	$72K	10x	as long as short
Bybit TRUMPUSDT	−0.0176%	4h	2.1620	+0.139%	$30.7M	$50.5M	50x	as long as short
Binance TRUMPUSDT	−0.0155%	4h	2.1625	+0.164%	$61.1M	$246.3M	75x	as long as short
Extended TRUMP-USD	−0.0152%	1h	2.1634	+0.206%	$77K	$718K	25x	as long as short
Gate TRUMP_USDT	−0.0132%	4h	2.1630	+0.185%	$7.8M	$52.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0069%	4h	2.1588	−0.008%	$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
Lighter TRUMP	−0.0048%	1h	2.1621	+0.144%	$955K	$977K	10x	as long as short
Variational Omni TRUMP	−0.0046%	4h	2.1631	+0.190%	$669K	$447K	—	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1626	+0.167%	$27K	$512	5x	as long as short
Orderly PERP_TRUMP_USDClong	0.0000%	4h	2.1590	long leg	$5K	$199K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1615	+0.116%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0010%	4h	2.1561	−0.136%	$181K	$4.6M	10x	as long as short
Aevo TRUMP-PERP	+0.0048%	1h	2.1582	−0.037%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0067%	4h	2.1610	+0.093%	$27.7M	$179.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0088%	4h	2.1600	+0.046%	$4.2M	$650K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1642	+0.241%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1635	+0.206%	$407K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1636	+0.213%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1630	+0.185%	$406K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1630	+0.185%	$4.3M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1630	+0.185%	$15.6M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1620	+0.139%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1610	+0.093%	$492K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1610	+0.091%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1630	+0.183%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0192%	1h	2.1638	+0.222%	$384K	$402K	10x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0400%	1h	2.1750	+0.741%	$284K	$278K	50x