Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.028%

Price spread now: GMX against OKX+0.042%7-day average — · you sell dearer than you buy

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

Long on OKX 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—needs both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GMX is 0.042% dearer against OKX than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.1560	0.0100	pay 0.0050% / 4h	16m 58s	$27.2M	$173.7M	50x
Short	GMX TRUMP/USD [ETH-USDC]	2.1569	L +0.0216% / S −0.0188%	get 0.0023% / 1h	16m 58s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now +0.042%Rate

Funding earned: $18.46
Price spread: +0.042% → 0.000%: $4.17
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $0.63
Costs to cover: 0.220%
Break-even: 6.8 days

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	2.33 bp	11.6 bp −$12	14.0 bp −$140	42.1 bp −$4,214	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	−0.1690%	1h	2.1430	−0.603%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1542	−0.086%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0119%	1h	2.1555	−0.023%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0056%	4h	2.1560	0.000%	$7.6M	$51.0M	75x	as long as short
Lighter TRUMP	−0.0048%	1h	2.1556	−0.019%	$954K	$957K	10x	as long as short
Binance TRUMPUSDT	−0.0010%	4h	2.1562	+0.007%	$60.6M	$241.7M	75x	as long as short
Variational Omni TRUMP	−0.0009%	4h	2.1551	−0.042%	$665K	$488K	—	as long as short
Extended TRUMP-USD	−0.0008%	1h	2.1549	−0.050%	$75K	$716K	25x	as long as short
edgeX TRUMPUSDC	−0.0005%	4h	2.1546	−0.064%	$105K	$264K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1556	−0.018%	$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
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1562	+0.009%	$406K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1565	+0.021%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0031%	8h	2.1545	−0.072%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1550	−0.046%	$4K	$206K	10x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1550	−0.046%	$19K	—	3x	as long as short
Bybit TRUMPUSDT	+0.0082%	4h	2.1570	+0.046%	$30.5M	$49.6M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1588	+0.130%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1571	+0.053%	$422K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1557	−0.015%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.1560	long leg	$27.2M	$173.7M	50x
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	0.000%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1560	0.000%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1570	+0.046%	$15.6M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1585	+0.116%	$253K	$318K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1530	−0.138%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.093%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.093%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0216% / S −0.0188%	1h	2.1569	+0.042%	$10K	—	100x
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1588	+0.129%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0230%	4h	2.1560	0.000%	$4.2M	$683K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1560	0.000%	$279K	$280K	50x	as long as short