Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.015%

Price spread now: dYdX against GRVT−0.255%50s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.255% cheaper against GRVT than usual: you would sell low and buy high (−$26 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 50 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	GRVT TRUMP_USDT_Perp	2.1913	0.0100	pay 0.0050% / 4h	21m 51s	$184K	$4.5M	10x
Short	dYdX TRUMP-USD	2.1857	0	get 0.0000% / 1h	21m 51s	$27K	$485	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against GRVT. 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 GRVTbpFee dYdXbpOrdersPrice spread, now −0.255%Rate

Funding earned: −$21
Price spread: −0.255% → 0.000%: −$25.51
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$65.51
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 2 min ago; dYdX: 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 GRVT live order book, 2 min ago	2.29 bp	11.2 bp −$11	28.1 bp −$281	2015.3 bp −$201.5K	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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	−0.881%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1892	−0.095%	$5	—	10x	as long as short
dYdX TRUMP-USDshort	0.0000%	1h	2.1857	−0.255%	$27K	$485	5x
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1901	−0.055%	$411K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1899	−0.065%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1828	−0.387%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.1890	−0.105%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1890	−0.105%	$981K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1882	−0.142%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1889	−0.109%	$456K	$832K	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	2.1863	−0.230%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1880	−0.151%	$62.8M	$225.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	−0.151%	$30.8M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.151%	$27.2M	$153.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1870	−0.197%	$7.4M	$48.6M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	−0.197%	$479K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1880	−0.151%	$4.4M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	−0.151%	$15.5M	$21.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	−0.231%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perplong	+0.0100%	4h	2.1913	long leg	$184K	$4.5M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.1930	+0.077%	$1K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1892	−0.096%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1930	+0.077%	$555K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1871	−0.192%	$75K	$469K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1892	−0.098%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1900	−0.060%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0296%	1h	2.1890	−0.105%	$14.1M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.288%	$4.2M	$635K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.671%	$285K	$391K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0477%	1h	2.1912	−0.005%	$258K	$282K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0872%	1h	2.1913	−0.001%	$1.3M	$2.5M	50x	as long as short