Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h −0.036%

Price spread now: KuCoin against GMX−0.042%89s7-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 KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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 −$6 a day on $10k at the current rate, and KuCoin is 0.042% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 89 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]	2.1669	L +0.0170% / S −0.0143%	pay 0.0021% / 1h	18m 56s	$10K	—	100x
Short	KuCoin TRUMPUSDTM	2.1660	−0.0040	pay 0.0020% / 4h	3h 18m	$4.2M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.042%Rate

Funding earned: −$44.17
Price spread: −0.042% → 0.000%: −$4.17
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$72.35
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: live order book, 9 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 KuCoin live order book, 9 min ago	2.33 bp	17.2 bp −$17	95.0 bp −$950	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	−0.1829%	1h	2.1550	−0.549%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0317%	4h	2.1682	+0.059%	$673K	$419K	—	as long as short
Bybit TRUMPUSDT	−0.0314%	4h	2.1700	+0.143%	$31.3M	$51.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0258%	1h	2.1650	−0.088%	$70	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0249%	4h	2.1700	+0.143%	$27.1M	$183.5M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1652	−0.079%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0225%	4h	2.1690	+0.097%	$63.3M	$246.7M	75x	as long as short
Extended TRUMP-USD	−0.0224%	1h	2.1650	−0.089%	$74K	$492K	25x	as long as short
Lighter TRUMP	−0.0200%	1h	2.1645	−0.111%	$946K	$993K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1640	−0.134%	$144K	$513K	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0130%	8h	2.1668	−0.004%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0119%	1h	2.1663	−0.028%	$392K	$76K	10x	as long as short
edgeX TRUMPUSDC	−0.0115%	4h	2.1681	+0.053%	$106K	$253K	20x	as long as short
Gate TRUMP_USDT	−0.0098%	4h	2.1680	+0.051%	$7.8M	$50.5M	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0087%	4h	2.1650	−0.088%	$5K	$304K	10x	as long as short
KuCoin TRUMPUSDTMshort	−0.0040%	4h	2.1660	−0.042%	$4.2M	$10.6M	50x
dYdX TRUMP-USD	−0.0014%	1h	2.1672	+0.014%	$26K	$2K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1665	−0.017%	$41K	—	150x	as long as short
Bitget TRUMPUSDT	+0.0010%	4h	2.1700	+0.143%	$15.4M	$26.3M	75x	as long as short
BloFin TRUMP-USDT	+0.0015%	4h	2.1650	−0.088%	$4.3M	$692K	75x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1642	−0.123%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0072%	4h	2.1650	−0.088%	$402K	$150K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1715	+0.212%	$13.8M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1672	+0.014%	$412K	$679K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1680	+0.052%	$186K	$54K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1680	+0.051%	$175K	$4.2M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1680	+0.051%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1690	+0.097%	$501K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0120%	1h	2.1685	+0.072%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0170% / S −0.0143%	1h	2.1669	long leg	$10K	—	100x
Backpack TRUMP_USDC_PERP	+0.0377%	1h	2.1686	+0.078%	$384K	$419K	10x	as long as short