Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.044%

Price spread now: BloFin against GMX+0.230%51s7-day average — · you sell dearer than you buy

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

Long on GMX Short on BloFin

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 for this trade now. Funding pays +$4 a day on $10k at the current rate, and BloFin is 0.230% dearer against GMX than usual: you sell high and buy low: +$23 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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	GMX TRUMP/USD [ETH-USDC]	2.1860	L +0.0216% / S −0.0188%	pay 0.0027% / 1h	7m 39s	$10K	—	100x
Short	BloFin TRUMP-USDT	2.1910	0.0340	get 0.0170% / 4h	1h 07m	$4.2M	$625K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.230%Rate

Funding earned: $26.04
Price spread: +0.230% → 0.000%: $23
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: $25.04
Costs to cover: 0.240%
Break-even: 0.3 days

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	2.29 bp	9.7 bp −$10	18.5 bp −$185	43.2 bp −$4,320	120.4 bp −$60.2K

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	−0.1472%	1h	2.1780	−0.365%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1852	−0.035%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0070%	1h	2.1849	−0.049%	$410K	$76K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1867	+0.033%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1866	+0.028%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1888	+0.130%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1840	−0.090%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0093%	8h	2.1861	+0.005%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1860	+0.001%	$984K	$723K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1880	+0.093%	$14.0M	$7.5M	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	2.1872	+0.056%	$455K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1869	+0.044%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	+0.139%	$62.4M	$220.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	+0.093%	$30.5M	$43.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	+0.093%	$26.8M	$150.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1860	+0.001%	$7.4M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	+0.001%	$480K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1870	+0.047%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	+0.093%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1882	+0.102%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1911	+0.236%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1930	+0.322%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1855	−0.022%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.276%	$531K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1861	+0.004%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1845	−0.067%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0216% / S −0.0188%	1h	2.1860	long leg	$10K	—	100x
BloFin TRUMP-USDTshort	+0.0340%	4h	2.1910	+0.230%	$4.2M	$625K	75x
Backpack TRUMP_USDC_PERP	+0.0341%	1h	2.1870	+0.047%	$258K	$274K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1890	+0.139%	$282K	$401K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0523%	1h	2.1871	+0.052%	$1.3M	$2.5M	50x	as long as short