Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0125%/8h= +13.7% APRpaid last 24h —

Price spread now: Phemex against dYdX−0.114%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 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 0.114% cheaper against dYdX than usual: you would sell low and buy high (spread −0.114% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 3.1 days of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TRUMP-USD	2.1384	−0.0025	get 0.0003% / 1h	47m 20s	$25K	$3K	5x
Short	Phemex TRUMPUSDT	2.1360	0.0100	get 0.0050% / 4h	47m 20s	$278K	$615K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex 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 PhemexbpOrdersPrice spread, now −0.114%Rate

Funding earned: $26.2
Price spread: −0.114% → 0.000%: −$11.43
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: −$7.23
Costs to cover: 0.220%
Break-even: 8.9 days

Slippage unknown: dYdX: no order-book sample; Phemex: live order book, 43 min ago. 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 Phemex live order book, 43 min ago	4.69 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit

dYdX: 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 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	−0.0449%	1h	2.1355	−0.138%	$80	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0387%	4h	2.1405	+0.096%	$62.6M	$235.8M	75x	as long as short
Extended TRUMP-USD	−0.0384%	1h	2.1388	+0.015%	$76K	$486K	25x	as long as short
Variational Omni TRUMP	−0.0381%	4h	2.1339	−0.211%	$664K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0325%	4h	2.1410	+0.120%	$31.1M	$48.1M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.535%	$125K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0311%	4h	2.1390	+0.026%	$27.1M	$172.4M	50x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1380	−0.021%	$914K	$929K	10x	as long as short
MEXC TRUMP_USDC	−0.0280%	4h	2.1380	−0.021%	$387K	$142K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1400	+0.071%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TRUMPUSDTM	−0.0232%	4h	2.1400	+0.073%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0230%	4h	2.1390	+0.026%	$7.7M	$46.3M	75x	as long as short
edgeX TRUMPUSDC	−0.0193%	4h	2.1316	−0.319%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0159%	8h	2.1388	+0.017%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0146%	4h	2.1280	−0.488%	$4.3M	$652K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0090%	4h	2.1400	+0.073%	$5K	$291K	10x	as long as short
Bitget TRUMPUSDT	−0.0034%	4h	2.1410	+0.120%	$15.5M	$24.7M	75x	as long as short
dYdX TRUMP-USDlong	−0.0025%	1h	2.1384	long leg	$25K	$3K	5x
Aevo TRUMP-PERP	−0.0016%	1h	2.1540	+0.725%	$19K	—	3x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1377	−0.035%	$384K	$67K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0002%	4h	2.1334	−0.238%	$179K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1413	+0.132%	$40K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.161%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1409	+0.115%	$13.6M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1410	+0.120%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1372	−0.058%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1380	−0.021%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1360	−0.114%	$484K	$2.4M	50x	as long as short
Phemex TRUMPUSDTshort	+0.0100%	4h	2.1360	−0.114%	$278K	$615K	50x
Backpack TRUMP_USDC_PERP	+0.0164%	1h	2.1387	+0.012%	$382K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0220% / S −0.0222%	1h	2.1417	+0.152%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0327%	1h	2.1396	+0.052%	$1.4M	$2.1M	50x	as long as short