Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0134%/8h= +14.7% APRnext payment +$0.67 per $10,000 · paid last 24h —

Price spread now: Phemex against Bitget0.000%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1131.127% of the position

Long on Bitget Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 6 hours (all we have)−0.092%−$9 · spread now 0.000%, 7d avg −0.092%

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Phemex is 0.092% dearer against Bitget than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRUMPUSDT	2.1340	−0.0034	get 0.0017% / 4h	51m 09s	$15.4M	$24.7M	75x
Short	Phemex TRUMPUSDT	2.1340	0.0100	get 0.0050% / 4h	51m 09s	$273K	$605K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Bitget. 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 BitgetbpFee PhemexbpOrdersPrice spread, now 0.000%Rate

Funding earned: $28.14
Price spread: 0.000% → −0.092%: $9.22
Slippage, 4 orders: −$88.74
Fee Bitget: 6 bp × 2 orders: −$12
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$75.38
Costs to cover: 1.127%
Break-even: 25.8 days

Slippage from Bitget: live order book, 1 min ago; Phemex: live order book, 40 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 Bitget live order book, 1 min ago	2.34 bp	12.8 bp −$13	17.8 bp −$178	49.8 bp −$4,979	doesn't fit
Sell Phemex live order book, 40 min ago	4.69 bp	47.2 bp −$47	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	−0.0527%	1h	2.1328	−0.056%	$80	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0406%	1h	2.1338	−0.009%	$383K	$67K	10x	as long as short
Extended TRUMP-USD	−0.0384%	1h	2.1318	−0.104%	$74K	$483K	25x	as long as short
Binance TRUMPUSDT	−0.0382%	4h	2.1330	−0.047%	$62.4M	$236.5M	75x	as long as short
Variational Omni TRUMP	−0.0374%	4h	2.1409	+0.325%	$666K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0324%	4h	2.1340	0.000%	$31.0M	$48.1M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1340	0.000%	$128K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0320%	4h	2.1330	−0.047%	$27.0M	$171.8M	50x	as long as short
MEXC TRUMP_USDC	−0.0272%	4h	2.1320	−0.094%	$386K	$142K	125x	as long as short
Lighter TRUMP	−0.0264%	1h	2.1330	−0.047%	$912K	$929K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1319	−0.097%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0234%	4h	2.1340	0.000%	$7.7M	$46.2M	75x	as long as short
KuCoin TRUMPUSDTM	−0.0234%	4h	2.1330	−0.047%	$4.3M	$10.0M	50x	as long as short
edgeX TRUMPUSDC	−0.0187%	4h	2.1416	+0.358%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0163%	8h	2.1340	+0.001%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0139%	4h	2.1320	−0.094%	$4.3M	$654K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0089%	4h	2.1330	−0.047%	$5K	$292K	10x	as long as short
Bitget TRUMPUSDTlong	−0.0034%	4h	2.1340	long leg	$15.4M	$24.7M	75x
Aevo TRUMP-PERP	−0.0016%	1h	2.1320	−0.094%	$18K	—	3x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1375	+0.165%	$25K	$3K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1353	+0.061%	$40K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0014%	4h	2.1427	+0.408%	$179K	$4.0M	10x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	+0.047%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1346	+0.028%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1340	0.000%	$402K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1355	+0.071%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1360	+0.094%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1360	+0.094%	$485K	$2.4M	50x	as long as short
Phemex TRUMPUSDTshort	+0.0100%	4h	2.1340	0.000%	$273K	$605K	50x
Backpack TRUMP_USDC_PERP	+0.0157%	1h	2.1364	+0.112%	$381K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0218% / S −0.0220%	1h	2.1349	+0.044%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0328%	1h	2.1369	+0.136%	$1.4M	$2.1M	50x	as long as short