Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0464%/8h= −50.8% APRnext payment −$2.32 per $10,000 · paid last 24h —

Price spread now: Binance against Phemex+0.010%7-day average −0.011% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$107as in the Price arb table

costs, in and out, $10k−$1091.088% of the position

Long on Phemex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 6 hours (all we have)−0.021%−$2 · spread now +0.010%, 7d avg −0.011%

Together, before fees—needs both histories

The price spread pays, funding is against you. Binance is 0.021% dearer against Phemex than usual: you sell high and buy low (spread +0.010% now, against its 7-day average of −0.011%): +$2 on $10k if it goes back. Holding the pair costs −$14 a day in funding at the current rate, which eats that in about 4 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TRUMPUSDT	2.1360	0.0100	pay 0.0050% / 4h	1h 27m	$195K	$453K	50x
Short	Binance TRUMPUSDT	2.1362	−0.0364	pay 0.0182% / 4h	1h 27m	$63.0M	$238.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Phemex. 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 PhemexbpFee BinancebpOrdersPrice spread, now +0.010%Rate

Funding earned: −$97.47
Price spread: +0.010% → −0.011%: $2.15
Slippage, 4 orders: −$86.79
Fee Phemex: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$204.12
Costs to cover: 1.088%
Break-even: never at this rate

Slippage from Phemex: live order book, 3 min ago; Binance: live order book, 9 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 Phemex live order book, 3 min ago	4.69 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 9 min ago	2.34 bp	9.9 bp −$10	15.3 bp −$153	37.7 bp −$3,775	205.1 bp −$102.6K

TRUMP on 32 exchanges

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
SoDEX TRUMP-USD	−0.0484%	1h	2.1369	+0.042%	$77	$6K	5x	as long as short
Variational Omni TRUMP	−0.0409%	4h	2.1300	−0.281%	$662K	$400K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0375%	4h	2.1360	0.000%	$27.0M	$172.7M	50x	as long as short
Bybit TRUMPUSDT	−0.0373%	4h	2.1370	+0.047%	$31.3M	$48.4M	50x	as long as short
Extended TRUMP-USD	−0.0368%	1h	2.1348	−0.056%	$73K	$493K	25x	as long as short
Binance TRUMPUSDTshort	−0.0364%	4h	2.1362	+0.010%	$63.0M	$238.4M	75x
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1250	−0.515%	$130K	$512K	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0264%	1h	2.1381	+0.098%	$384K	$78K	10x	as long as short
Lighter TRUMP	−0.0256%	1h	2.1366	+0.028%	$918K	$959K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1360	0.000%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0230%	4h	2.1360	0.000%	$7.7M	$47.7M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0216%	8h	2.1368	+0.036%	$5K	$175	5x	as long as short
MEXC TRUMP_USDC	−0.0216%	4h	2.1360	0.000%	$386K	$143K	125x	as long as short
edgeX TRUMPUSDC	−0.0178%	4h	2.1290	−0.327%	$104K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0176%	4h	2.1360	0.000%	$4.3M	$10.2M	50x	as long as short
BloFin TRUMP-USDT	−0.0119%	4h	2.1340	−0.094%	$4.3M	$689K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0087%	4h	2.1350	−0.047%	$5K	$299K	10x	as long as short
Bitget TRUMPUSDT	−0.0052%	4h	2.1380	+0.094%	$15.4M	$24.8M	75x	as long as short
Aevo TRUMP-PERP	−0.0008%	1h	2.1350	−0.047%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1375	+0.070%	$25K	$3K	5x	as long as short
GRVT TRUMP_USDT_Perp	0.0000%	4h	2.1304	−0.264%	$184K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1382	+0.104%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1404	+0.204%	$1.4M	$2.1M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+1.124%	$13K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1383	+0.108%	$13.5M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1370	+0.047%	$403K	$643K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1353	−0.033%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1370	+0.047%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1400	+0.187%	$486K	$2.5M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1360	long leg	$195K	$453K	50x
Backpack TRUMP_USDC_PERP	+0.0139%	1h	2.1406	+0.215%	$382K	$390K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0204% / S −0.0199%	1h	2.1369	+0.041%	$10K	—	100x	as long as short