Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0388%/8h= −42.5% APRpaid last 24h −0.036%

Price spread now: Binance against GMX−0.074%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Binance

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 against this trade now: funding costs −$12 a day on $10k at the current rate, and Binance is 0.074% cheaper against GMX than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1529	L +0.0137% / S −0.0099%	pay 0.0017% / 1h	57m 50s	$9K	—	100x
Short	Binance TRUMPUSDT	2.1513	−0.0251	pay 0.0126% / 4h	1h 57m	$60.8M	$251.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.074%Rate

Funding earned: −$81.5
Price spread: −0.074% → 0.000%: −$7.37
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$110.88
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 16 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 16 min ago	2.33 bp	7.6 bp −$8	13.1 bp −$131	37.7 bp −$3,767	177.7 bp −$88.8K

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	−0.1927%	1h	2.1410	−0.551%	$12K	$157K	12x	as long as short
Extended TRUMP-USD	−0.0256%	1h	2.1519	−0.046%	$74K	$739K	25x	as long as short
Binance TRUMPUSDTshort	−0.0251%	4h	2.1513	−0.074%	$60.8M	$251.2M	75x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1526	−0.011%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0179%	4h	2.1541	+0.057%	$664K	$424K	—	as long as short
Bybit TRUMPUSDT	−0.0158%	4h	2.1520	−0.040%	$30.5M	$52.3M	50x	as long as short
edgeX TRUMPUSDC	−0.0133%	4h	2.1537	+0.041%	$105K	$265K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0133%	8h	2.1511	−0.084%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0104%	4h	2.1520	−0.040%	$7.7M	$53.3M	75x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0098%	1h	2.1526	−0.010%	$1.3M	$2.3M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRUMP-USDT-SWAP	−0.0095%	4h	2.1520	−0.040%	$26.6M	$185.2M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0075%	1h	2.1510	−0.087%	$405K	$81K	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0063%	4h	2.1500	−0.133%	$5K	$231K	10x	as long as short
Lighter TRUMP	−0.0032%	1h	2.1496	−0.152%	$949K	$1.0M	10x	as long as short
BloFin TRUMP-USDT	−0.0020%	4h	2.1510	−0.087%	$4.1M	$689K	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1535	+0.028%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1523	−0.025%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1494	−0.160%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0068%	4h	2.1560	+0.144%	$183K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1541	+0.057%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1530	+0.006%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1530	+0.008%	$185K	$53K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1520	−0.040%	$401K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1520	−0.040%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1530	+0.006%	$15.4M	$27.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1550	+0.099%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1499	−0.138%	$82	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1520	−0.040%	$485K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0137% / S −0.0099%	1h	2.1529	long leg	$9K	—	100x
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1510	−0.087%	$207K	$413K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0589%	1h	2.1538	+0.043%	$385K	$414K	10x	as long as short