Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h 0.000%

Price spread now: Bitget against HTX−0.326%46s7-day average −0.095% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$630.632% of the position

Long on HTX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.111%−$11 on $10k

Price spread, last 4 days (all we have)+0.302%+$30 · spread now −0.326%, 7d avg −0.095%

Together, before fees+0.191%+$19 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.231% cheaper against HTX than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of −0.095%. The two prices were read 46 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	HTX TRUMP-USDT	2.1480	0.0100	pay 0.0050% / 4h	49m 35s	$498K	$2.1M	50x
Short	Bitget TRUMPUSDT	2.1410	0.0100	get 0.0050% / 4h	49m 35s	$15.4M	$25.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against HTX. 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 HTXbpFee BitgetbpOrdersPrice spread, now −0.326%Rate

Funding earned: $0
Price spread: −0.326% → −0.095%: −$23.12
Slippage, 4 orders: −$39.15
Fee HTX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$86.27
Costs to cover: 0.632%
Break-even: never at this rate

Slippage from HTX: live order book, 4 min ago; Bitget: live order book, 4 min ago.

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 HTX live order book, 4 min ago	9.27 bp	19.7 bp −$20	147.3 bp −$1,473	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.32 bp	12.8 bp −$13	15.9 bp −$159	57.6 bp −$5,759	doesn't fit

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	−0.1690%	1h	2.1380	−0.466%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0432%	1h	2.1445	−0.163%	$89	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0355%	1h	2.1464	−0.074%	$404K	$72K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1392	−0.412%	$5	—	10x	as long as short
Lighter TRUMP	−0.0240%	1h	2.1419	−0.284%	$947K	$933K	10x	as long as short
Gate TRUMP_USDT	−0.0112%	4h	2.1410	−0.326%	$7.5M	$50.4M	75x	as long as short
Bybit TRUMPUSDT	−0.0044%	4h	2.1410	−0.326%	$30.4M	$49.2M	50x	as long as short
Variational Omni TRUMP	−0.0017%	4h	2.1481	+0.006%	$657K	$482K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0006%	8h	2.1423	−0.265%	$5K	$175	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1459	−0.099%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1484	+0.020%	$40K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0035%	4h	2.1566	+0.402%	$105K	$264K	20x	as long as short
Binance TRUMPUSDT	+0.0053%	4h	2.1403	−0.359%	$60.3M	$240.9M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0054%	4h	2.1450	−0.140%	$4K	$221K	10x	as long as short
Extended TRUMP-USD	+0.0056%	1h	2.1399	−0.376%	$74K	$745K	25x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1467	−0.062%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1446	−0.158%	$14.1M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1425	−0.254%	$421K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1425	−0.256%	$184K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1410	−0.326%	$27.0M	$171.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1420	−0.279%	$411K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1420	−0.279%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1410	−0.326%	$15.4M	$25.7M	75x
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1462	−0.084%	$251K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1580	+0.466%	$179K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1490	+0.047%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.1480	long leg	$498K	$2.1M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1480	0.000%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1476	−0.018%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0231%	4h	2.1480	0.000%	$4.2M	$674K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1550	+0.326%	$279K	$281K	50x	as long as short