Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.043%

Price spread now: GMX against GRVT−0.184%69s7-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 GMX

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

Funding pays, the price is against you. GMX is 0.184% cheaper against GRVT than usual: you would sell low and buy high (spread −0.184% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$18 on $10k: about 7.0 days of funding at the current rate (+$3 a day). The two prices were read 69 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	2.1920	0.0100	pay 0.0050% / 4h	1h 17m	$179K	$4.5M	10x
Short	GMX TRUMP/USD [ETH-USDC]	2.1879	L +0.0216% / S −0.0188%	get 0.0023% / 1h	17m 51s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.184%Rate

Funding earned: $18.46
Price spread: −0.184% → 0.000%: −$18.38
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: −$20.92
Costs to cover: 0.210%
Break-even: 14.9 days

Slippage unknown: GRVT: live order book, 6 min ago; GMX: 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, 6 min ago	4.57 bp	9.1 bp −$9	29.6 bp −$296	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.1472%	1h	2.1780	−0.637%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1867	−0.239%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1868	−0.235%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1876	−0.199%	$410K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1882	−0.171%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1910	−0.045%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1860	−0.272%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0092%	8h	2.1872	−0.218%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1866	−0.244%	$973K	$682K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1885	−0.158%	$14.0M	$7.4M	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	2.1876	−0.200%	$455K	$833K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1882	−0.169%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1865	−0.249%	$62.4M	$219.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1870	−0.226%	$30.5M	$43.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.180%	$26.8M	$150.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1880	−0.180%	$7.4M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	−0.272%	$480K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1870	−0.226%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1870	−0.226%	$15.5M	$21.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1892	−0.125%	$692K	$270K	—	as long as short
GRVT TRUMP_USDT_Perplong	+0.0100%	4h	2.1920	long leg	$179K	$4.5M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.1890	−0.135%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1869	−0.231%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1890	−0.135%	$531K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1871	−0.223%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1860	−0.271%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0216% / S −0.0188%	1h	2.1879	−0.184%	$10K	—	100x
BloFin TRUMP-USDT	+0.0340%	4h	2.1860	−0.272%	$4.2M	$514K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0353%	1h	2.1887	−0.149%	$262K	$272K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1920	+0.002%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1896	−0.105%	$1.3M	$2.5M	50x	as long as short