Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.023%

Price spread now: Bitget against GMX−0.006%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 Bitget

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$3 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.2141	L +0.0216% / S −0.0188%	pay 0.0027% / 1h	48m 02s	$10K	—	100x
Short	Bitget TRUMPUSDT	2.2140	0.0100	get 0.0050% / 4h	48m 02s	$15.7M	$21.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.006%Rate

Funding earned: −$24.43
Price spread: −0.006% → 0.000%: −$0.61
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$49.03
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 1 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 Bitget live order book, 1 min ago	2.26 bp	12.2 bp −$12	15.7 bp −$157	48.4 bp −$4,844	doesn't fit

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	−0.1537%	1h	2.2040	−0.458%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2142	+0.003%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2187	+0.207%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2141	−0.002%	$415K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2141	−0.002%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2156	+0.065%	$121K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2140	−0.006%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0096%	8h	2.2162	+0.092%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2135	−0.029%	$992K	$729K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2154	+0.055%	$461K	$835K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2175	+0.152%	$191K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2139	−0.012%	$63.8M	$223.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2130	−0.051%	$31.1M	$43.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2140	−0.006%	$27.4M	$153.2M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2140	−0.006%	$7.5M	$47.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2120	−0.096%	$484K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2150	+0.039%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.2140	−0.006%	$15.7M	$21.3M	75x
Variational Omni TRUMP	+0.0100%	4h	2.2172	+0.140%	$624K	$348K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	+0.220%	$194K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2170	+0.129%	$1K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2137	−0.020%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2170	+0.129%	$527K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2131	−0.047%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2134	−0.034%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0216% / S −0.0188%	1h	2.2141	long leg	$10K	—	100x
Hyperliquid TRUMP	+0.0338%	1h	2.2166	+0.111%	$14.4M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2170	+0.129%	$4.2M	$634K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2240	+0.446%	$287K	$405K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0632%	1h	2.2152	+0.048%	$261K	$278K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0862%	1h	2.2163	+0.098%	$1.3M	$2.5M	50x	as long as short