Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.028%

Price spread now: GMX against Orderly+0.038%7-day average — · you sell dearer than you buy

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

Long on Orderly 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 0.038% dearer against Orderly 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	Orderly PERP_TRUMP_USDC	2.2150	0.0088	pay 0.0044% / 4h	2h 45m	$3K	$239K	10x
Short	GMX TRUMP/USD [ETH-USDC]	2.2158	L +0.0217% / S −0.0188%	get 0.0023% / 1h	45m 10s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.038%Rate

Funding earned: $21.03
Price spread: +0.038% → 0.000%: $3.79
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $6.82
Costs to cover: 0.180%
Break-even: 4.7 days

Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and 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	−0.1623%	1h	2.2050	−0.451%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2152	+0.007%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2177	+0.120%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2152	+0.009%	$417K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2164	+0.064%	$43K	—	150x	as long as short
Lighter TRUMP	+0.0024%	1h	2.2130	−0.090%	$983K	$787K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2219	+0.314%	$108K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0079%	8h	2.2157	+0.032%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDClong	+0.0088%	4h	2.2150	long leg	$3K	$239K	10x
Hyperliquid TRUMP	+0.0100%	1h	2.2223	+0.330%	$14.9M	$6.9M	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	2.2160	+0.045%	$437K	$860K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2167	+0.075%	$191K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2183	+0.149%	$64.2M	$234.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2170	+0.090%	$31.6M	$47.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2170	+0.090%	$28.9M	$169.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2180	+0.135%	$7.8M	$48.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2160	+0.045%	$442K	$144K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2180	+0.135%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2190	+0.181%	$15.9M	$23.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2152	+0.007%	$699K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2295	+0.653%	$194K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2190	+0.181%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2137	−0.059%	$80	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2210	+0.271%	$576K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2129	−0.094%	$76K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2140	−0.045%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0217% / S −0.0188%	1h	2.2158	+0.038%	$10K	—	100x
Backpack TRUMP_USDC_PERP	+0.0326%	1h	2.2213	+0.284%	$260K	$320K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+0.361%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0509%	1h	2.2167	+0.076%	$1.3M	$2.4M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	−0.226%	$286K	$307K	50x	as long as short