Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0087%/8h= +9.6% APRpaid last 24h +0.033%

Price spread now: Orderly against dYdX−0.032%7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Orderly is 0.032% cheaper against dYdX than usual: you would sell low and buy high (spread −0.032% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 29 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TRUMP-USD	2.1887	0	get 0.0000% / 1h	14m 56s	$27K	$485	5x
Short	Orderly PERP_TRUMP_USDC	2.1880	0.0087	get 0.0044% / 4h	1h 14m	$3K	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against dYdX. 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 dYdXbpFee OrderlybpOrdersPrice spread, now −0.032%Rate

Funding earned: $18.36
Price spread: −0.032% → 0.000%: −$3.17
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$0.81
Costs to cover: 0.160%
Break-even: 7.3 days

Slippage unknown: dYdX: no order-book sample; Orderly: 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 dYdX no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

dYdX and 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	−0.1472%	1h	2.1770	−0.534%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1882	−0.022%	$5	—	10x	as long as short
dYdX TRUMP-USDlong	0.0000%	1h	2.1887	long leg	$27K	$485	5x
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1887	0.000%	$410K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1886	−0.006%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1865	−0.100%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDCshort	+0.0087%	4h	2.1880	−0.032%	$3K	$249K	10x
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1887	−0.001%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1890	+0.014%	$974K	$682K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1921	+0.158%	$14.1M	$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	2.1901	+0.064%	$455K	$833K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1893	+0.027%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1894	+0.032%	$62.5M	$220.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1900	+0.060%	$30.6M	$43.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1900	+0.060%	$26.9M	$150.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1900	+0.060%	$7.4M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1890	+0.014%	$481K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1900	+0.060%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1900	+0.060%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1892	+0.024%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1900	+0.060%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1900	+0.060%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	+0.037%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.151%	$532K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1891	+0.016%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1882	−0.022%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1889	+0.007%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1860	−0.123%	$4.2M	$514K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0346%	1h	2.1919	+0.146%	$259K	$272K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1920	+0.151%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1924	+0.168%	$1.3M	$2.5M	50x	as long as short