Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.023%

Price spread now: GMX against Bybit+0.058%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.058% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1900	0.0100	pay 0.0050% / 4h	1h 15m	$30.5M	$43.3M	50x
Short	GMX TRUMP/USD [ETH-USDC]	2.1913	L +0.0216% / S −0.0188%	get 0.0023% / 1h	15m 58s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now +0.058%Rate

Funding earned: $18.46
Price spread: +0.058% → 0.000%: $5.77
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $1.24
Costs to cover: 0.230%
Break-even: 6.5 days

Slippage unknown: Bybit: live order book, 3 min ago; GMX: no order-book sample. 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 Bybit live order book, 3 min ago	2.29 bp	11.7 bp −$12	19.0 bp −$190	111.5 bp −$11.2K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.1472%	1h	2.1770	−0.594%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1912	+0.056%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1887	−0.059%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1913	+0.059%	$411K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1915	+0.068%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1910	+0.045%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1900	0.000%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1904	+0.017%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1891	−0.041%	$974K	$682K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1915	+0.068%	$14.0M	$7.4M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1909	+0.042%	$456K	$833K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1906	+0.029%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1893	−0.033%	$62.5M	$219.9M	75x	as long as short
Bybit TRUMPUSDTlong	+0.0100%	4h	2.1900	long leg	$30.5M	$43.3M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1890	−0.046%	$26.9M	$150.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1900	0.000%	$7.4M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.091%	$481K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1910	+0.046%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1900	0.000%	$15.5M	$21.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1892	−0.035%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1870	−0.137%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1920	+0.091%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.023%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1950	+0.228%	$532K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1891	−0.043%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1905	+0.023%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0216% / S −0.0188%	1h	2.1913	+0.058%	$10K	—	100x
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.228%	$4.2M	$514K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0349%	1h	2.1918	+0.082%	$262K	$272K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1920	+0.091%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1924	+0.111%	$1.3M	$2.5M	50x	as long as short