Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h —

Price spread now: Phemex against Deribit−0.069%7-day average — · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$133as in the Price arb table

costs, in and out, $10k−$1261.256% of the position

Long on Deribit Short on Phemex

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Phemex is 0.069% cheaper against Deribit than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1585	0	get 0.0000% / 1h	17m 42s	$387K	$78K	10x
Short	Phemex TRUMPUSDT	2.1570	0.0100	get 0.0050% / 4h	2h 17m	$92K	$244K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against Deribit. 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 DeribitbpFee PhemexbpOrdersPrice spread, now −0.069%Rate

Funding earned: $21
Price spread: −0.069% → 0.000%: −$6.95
Slippage, 4 orders: −$106.6
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$111.55
Costs to cover: 1.256%
Break-even: 44.2 days

Slippage from Deribit: live order book, 34 min ago; Phemex: live order book, 18 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 Deribit live order book, 34 min ago	5.58 bp	15.1 bp −$15	25.1 bp −$251	doesn't fit	doesn't fit
Sell Phemex live order book, 18 min ago	6.99 bp	48.9 bp −$49	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
Injective TRUMP/USDC PERP	−0.1841%	1h	2.1600	+0.069%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0390%	4h	2.1541	−0.206%	$669K	$403K	—	as long as short
Bybit TRUMPUSDT	−0.0353%	4h	2.1550	−0.162%	$31.4M	$49.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0337%	4h	2.1540	−0.208%	$27.3M	$177.3M	50x	as long as short
SoDEX TRUMP-USD	−0.0327%	1h	2.1570	−0.069%	$67	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0297%	4h	2.1550	−0.162%	$63.3M	$241.7M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1549	−0.168%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0272%	1h	2.1549	−0.167%	$932K	$979K	10x	as long as short
Gate TRUMP_USDT	−0.0264%	4h	2.1550	−0.162%	$7.8M	$48.5M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1570	−0.067%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.301%	$133K	$516K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0217%	8h	2.1544	−0.189%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1552	−0.155%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0122%	4h	2.1560	−0.116%	$4.2M	$10.3M	50x	as long as short
MEXC TRUMP_USDC	−0.0084%	4h	2.1530	−0.255%	$392K	$151K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0079%	4h	2.1580	−0.023%	$5K	$312K	10x	as long as short
BloFin TRUMP-USDT	−0.0058%	4h	2.1510	−0.347%	$4.3M	$679K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1570	−0.069%	$15.4M	$25.7M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	−0.043%	$26K	$3K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1585	long leg	$387K	$78K	10x
Aevo TRUMP-PERP	+0.0008%	1h	2.1559	−0.120%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1544	−0.190%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1605	+0.094%	$1.3M	$2.1M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0020%	4h	2.1545	−0.185%	$178K	$4.2M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1574	−0.051%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1560	−0.116%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1553	−0.148%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	−0.023%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	−0.023%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDTshort	+0.0100%	4h	2.1570	−0.069%	$92K	$244K	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0187% / S −0.0181%	1h	2.1548	−0.172%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0220%	1h	2.1598	+0.060%	$386K	$404K	10x	as long as short