Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0117%/8h= −12.8% APRpaid last 24h −0.045%

Price spread now: GRVT against GMX+0.310%7-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 GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

The price spread pays, funding is against you. GRVT is 0.310% dearer against GMX than usual: you sell high and buy low (spread +0.310% now, against zero (this spread has no 7-day history yet)): +$31 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 8.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.2226	L +0.0217% / S −0.0188%	pay 0.0027% / 1h	46m 39s	$10K	—	100x
Short	GRVT TRUMP_USDT_Perp	2.2295	0.0100	get 0.0050% / 4h	2h 46m	$194K	$4.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.310%Rate

Funding earned: −$24.54
Price spread: +0.310% → 0.000%: $31.05
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$14.5
Costs to cover: 0.210%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; GRVT: live order book, 2 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 GRVT live order book, 2 min ago	4.49 bp	10.4 bp −$10	30.0 bp −$300	doesn't fit	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	−0.1623%	1h	2.2120	−0.475%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2222	−0.018%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2166	−0.266%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2221	−0.021%	$418K	$80K	10x	as long as short
Lighter TRUMP	+0.0008%	1h	2.2181	−0.200%	$986K	$787K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2224	−0.005%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2256	+0.138%	$108K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0079%	8h	2.2202	−0.105%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0088%	4h	2.2210	−0.070%	$3K	$242K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2226	+0.002%	$14.9M	$6.9M	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	2.2207	−0.083%	$438K	$860K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2197	−0.131%	$191K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2175	−0.229%	$64.2M	$234.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2160	−0.295%	$31.6M	$47.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2150	−0.340%	$28.9M	$168.8M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2200	−0.115%	$7.8M	$48.2M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2180	−0.205%	$442K	$144K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2190	−0.160%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2170	−0.250%	$15.9M	$23.8M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2202	−0.108%	$701K	$446K	—	as long as short
GRVT TRUMP_USDT_Perpshort	+0.0100%	4h	2.2295	+0.310%	$194K	$4.6M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.2250	+0.110%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2205	−0.093%	$81	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.290%	$578K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2149	−0.343%	$76K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2185	−0.182%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0217% / S −0.0188%	1h	2.2226	long leg	$10K	—	100x
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+0.020%	$4.4M	$697K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0351%	1h	2.2229	+0.015%	$260K	$320K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0508%	1h	2.2224	−0.007%	$1.3M	$2.4M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	−0.565%	$286K	$307K	50x	as long as short