Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1723%/8h= −188.7% APRpaid last 24h −0.520%

Price spread now: Injective against SunX−0.182%7-day average −0.158% · you buy dearer than you sell

Net, funding: paid 7d − costs−$308as in the Funding arb table

Net, price: spread back to 7d avg − costs−$251as in the Price arb table

costs, in and out, $10k−$2482.485% of the position

Long on SunX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.596%−$60 on $10k

Price spread, last 3 days (all we have)+0.309%+$31 · spread now −0.182%, 7d avg −0.158%

Together, before fees−0.287%−$29 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$52 a day on $10k at the current rate, and Injective is 0.024% cheaper against SunX than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.158%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.596% in total (about -31.1% 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	SunX TRUMP-USDT	2.1960	0.0100	pay 0.0050% / 4h	2h 18m	$2K	$1.6M	50x
Short	Injective TRUMP/USDC PERP	2.1920	−0.1623	pay 0.0203% / 1h	18m 41s	$13K	$157K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against SunX. 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 SunXbpFee InjectivebpOrdersPrice spread, now −0.182%Rate

Funding earned: −$361.88
Price spread: −0.182% → −0.158%: −$2.42
Slippage, 4 orders: −$240.48
Fee SunX: 4 bp × 2 orders: −$8
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$612.8
Costs to cover: 2.485%
Break-even: never at this rate

Slippage from SunX: live order book, 6 min ago; Injective: live order book, 35 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 SunX live order book, 6 min ago	31.72 bp	61.4 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Injective live order book, 35 min ago	47.63 bp	47.6 bp −$48	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1920	−0.182%	$13K	$157K	12x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1946	−0.063%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0106%	4h	2.1980	+0.091%	$7.8M	$49.3M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2016	+0.256%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1962	+0.009%	$413K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1948	−0.055%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1952	−0.039%	$107K	$263K	20x	as long as short
SoDEX TRUMP-USD	+0.0062%	1h	2.1955	−0.023%	$78	$6K	5x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1997	+0.168%	$978K	$790K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0072%	8h	2.2010	+0.229%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1950	−0.046%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2016	+0.255%	$14.3M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2005	+0.205%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2014	+0.246%	$190K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2014	+0.246%	$64.0M	$236.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2000	+0.182%	$31.6M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1990	+0.137%	$29.0M	$170.9M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1990	+0.137%	$437K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2010	+0.228%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1980	+0.091%	$15.7M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1951	−0.041%	$691K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2029	+0.315%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.1960	long leg	$2K	$1.6M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.2020	+0.273%	$558K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1989	+0.133%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1949	−0.049%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1947	−0.059%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0271%	1h	2.2011	+0.232%	$257K	$320K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1977	+0.079%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2020	+0.273%	$286K	$305K	50x	as long as short