Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0129%/8h= −14.1% APRpaid last 24h −0.027%

Price spread now: Orderly against GMX+0.093%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 Orderly

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 pays, funding is against you. Orderly is 0.093% dearer against GMX than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.4 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.2189	L +0.0217% / S −0.0188%	pay 0.0027% / 1h	43m 44s	$10K	—	100x
Short	Orderly PERP_TRUMP_USDC	2.2210	0.0088	get 0.0044% / 4h	2h 43m	$3K	$238K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.093%Rate

Funding earned: −$27.08
Price spread: +0.093% → 0.000%: $9.34
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$35.74
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	2.2050	−0.628%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2162	−0.125%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2273	+0.376%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2211	+0.098%	$418K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2195	+0.024%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2219	+0.136%	$108K	$263K	20x	as long as short
Lighter TRUMP	+0.0056%	1h	2.2230	+0.184%	$988K	$788K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0079%	8h	2.2258	+0.309%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDCshort	+0.0088%	4h	2.2210	+0.093%	$3K	$238K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.2307	+0.531%	$15.0M	$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	2.2273	+0.375%	$439K	$860K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2257	+0.305%	$192K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2240	+0.230%	$64.5M	$234.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2250	+0.274%	$31.7M	$47.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2260	+0.319%	$29.0M	$170.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2240	+0.229%	$7.9M	$48.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2230	+0.184%	$443K	$144K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2250	+0.274%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2260	+0.319%	$16.0M	$23.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2152	−0.170%	$699K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2295	+0.475%	$194K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2200	+0.048%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2225	+0.161%	$81	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2280	+0.409%	$578K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2239	+0.226%	$76K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2215	+0.116%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0217% / S −0.0188%	1h	2.2189	long leg	$10K	—	100x
Backpack TRUMP_USDC_PERP	+0.0325%	1h	2.2267	+0.350%	$260K	$320K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+0.184%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0508%	1h	2.2241	+0.234%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	−0.402%	$286K	$307K	50x	as long as short