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: SunX against GMX+0.078%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 SunX

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. SunX is 0.078% dearer against GMX than usual: you sell high and buy low (spread +0.078% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1873	L +0.0216% / S −0.0188%	pay 0.0027% / 1h	19m 50s	$10K	—	100x
Short	SunX TRUMP-USDT	2.1890	0.0100	get 0.0050% / 4h	19m 50s	$2K	$1.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.078%Rate

Funding earned: −$24.37
Price spread: +0.078% → 0.000%: $7.84
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$36.53
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: live order book, 5 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 SunX live order book, 5 min ago	501.49 bp	doesn't fit	doesn't fit	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	−0.1537%	1h	2.1720	−0.699%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1862	−0.051%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1876	+0.017%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1876	+0.014%	$410K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1875	+0.009%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1805	−0.310%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.1870	−0.013%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1869	−0.018%	$980K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1871	−0.011%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1879	+0.029%	$456K	$833K	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	2.1870	−0.013%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1880	+0.033%	$62.8M	$225.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	+0.033%	$30.8M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1870	−0.013%	$27.2M	$153.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1870	−0.013%	$7.4M	$48.6M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	−0.059%	$479K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	+0.033%	$4.4M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	+0.033%	$15.4M	$21.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1852	−0.095%	$639K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1845	−0.128%	$192K	$4.5M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1890	+0.078%	$2K	$1.6M	50x
SoDEX TRUMP-USD	+0.0100%	1h	2.1869	−0.018%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1910	+0.170%	$554K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1871	−0.009%	$75K	$469K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1863	−0.047%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0216% / S −0.0188%	1h	2.1873	long leg	$10K	—	100x
Hyperliquid TRUMP	+0.0287%	1h	2.1899	+0.120%	$14.1M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1840	−0.150%	$4.2M	$635K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.856%	$285K	$391K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0484%	1h	2.1900	+0.124%	$258K	$282K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0873%	1h	2.1890	+0.077%	$1.3M	$2.5M	50x	as long as short