Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0092%/8h= +10.0% APRpaid last 24h —

Price spread now: Phemex against gTrade (Gains Network)+0.095%50s7-day average — · you sell dearer than you buy

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

Long on gTrade (Gains Network)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

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Phemex is 0.095% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$9 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	gTrade (Gains Network) TRUMP/USD	2.1380	L +0.0008% / S −0.0007%	pay 0.0001% / 1h	46m 31s	$40K	—	150x
Short	Phemex TRUMPUSDT	2.1400	0.0100	get 0.0050% / 4h	46m 31s	$280K	$618K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phemex against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee PhemexbpOrdersPrice spread, now +0.095%Rate

Funding earned: $19.26
Price spread: +0.095% → 0.000%: $9.49
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Phemex: 6 bp × 2 orders: −$12
Net: $6.75
Costs to cover: 0.220%
Break-even: 4.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Phemex: live order book, 44 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Phemex live order book, 44 min ago	4.69 bp	47.2 bp −$47	doesn't fit	doesn't fit	doesn't fit

gTrade (Gains Network): 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	−0.0454%	1h	2.1395	+0.072%	$80	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0388%	4h	2.1390	+0.049%	$62.6M	$235.5M	75x	as long as short
Extended TRUMP-USD	−0.0384%	1h	2.1383	+0.014%	$76K	$486K	25x	as long as short
Variational Omni TRUMP	−0.0381%	4h	2.1339	−0.189%	$664K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0326%	4h	2.1400	+0.095%	$31.1M	$48.1M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.513%	$125K	$520K	50x	as long as short
Lighter TRUMP	−0.0312%	1h	2.1380	+0.001%	$914K	$929K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0297%	4h	2.1390	+0.048%	$27.1M	$172.3M	50x	as long as short
MEXC TRUMP_USDC	−0.0282%	4h	2.1370	−0.045%	$387K	$142K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1370	−0.047%	$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	−0.0230%	4h	2.1370	−0.045%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0222%	4h	2.1390	+0.048%	$7.7M	$46.3M	75x	as long as short
edgeX TRUMPUSDC	−0.0193%	4h	2.1316	−0.297%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0155%	8h	2.1390	+0.048%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0145%	4h	2.1380	+0.001%	$4.3M	$656K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0090%	4h	2.1400	+0.095%	$5K	$291K	10x	as long as short
Bitget TRUMPUSDT	−0.0034%	4h	2.1400	+0.095%	$15.4M	$24.7M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0030%	1h	2.1417	+0.174%	$385K	$67K	10x	as long as short
dYdX TRUMP-USD	−0.0023%	1h	2.1414	+0.162%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1540	+0.748%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0002%	4h	2.1334	−0.216%	$179K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USDlong	L +0.0008% / S −0.0007%	1h	2.1380	long leg	$40K	—	150x
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.139%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1406	+0.123%	$13.5M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1399	+0.090%	$403K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1385	+0.027%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1400	+0.095%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1430	+0.235%	$476K	$2.4M	50x	as long as short
Phemex TRUMPUSDTshort	+0.0100%	4h	2.1400	+0.095%	$280K	$618K	50x
Backpack TRUMP_USDC_PERP	+0.0181%	1h	2.1421	+0.193%	$382K	$389K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0220% / S −0.0222%	1h	2.1387	+0.032%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0327%	1h	2.1434	+0.255%	$1.4M	$2.1M	50x	as long as short