Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0479%/8h= −52.4% APRnext payment −$2.39 per $10,000 · paid last 24h —

Price spread now: Bybit against Phemex0.000%7-day average +0.023% · 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−$111as in the Price arb table

costs, in and out, $10k−$1091.092% of the position

Long on Phemex Short on Bybit

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)+0.023%+$2 · spread now 0.000%, 7d avg +0.023%

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$14 a day on $10k at the current rate, and Bybit is 0.023% cheaper against Phemex than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.023%). Swap the legs.

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 28m	$193K	$449K	50x
Short	Bybit TRUMPUSDT	2.1360	−0.0379	pay 0.0189% / 4h	1h 28m	$31.2M	$48.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now 0.000%Rate

Funding earned: −$100.54
Price spread: 0.000% → +0.023%: −$2.31
Slippage, 4 orders: −$86.16
Fee Phemex: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$212.02
Costs to cover: 1.092%
Break-even: never at this rate

Slippage from Phemex: live order book, 2 min ago; Bybit: live order book, 3 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, 2 min ago	4.69 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	2.35 bp	9.7 bp −$10	15.8 bp −$158	81.9 bp −$8,186	doesn't fit

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	−0.0486%	1h	2.1347	−0.061%	$77	$6K	5x	as long as short
Variational Omni TRUMP	−0.0409%	4h	2.1300	−0.281%	$662K	$400K	—	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0405%	1h	2.1358	−0.009%	$383K	$78K	10x	as long as short
Bybit TRUMPUSDTshort	−0.0379%	4h	2.1360	0.000%	$31.2M	$48.4M	50x
OKX TRUMP-USDT-SWAP	−0.0374%	4h	2.1360	0.000%	$27.0M	$172.7M	50x	as long as short
Binance TRUMPUSDT	−0.0364%	4h	2.1360	0.000%	$63.0M	$238.3M	75x	as long as short
Extended TRUMP-USD	−0.0360%	1h	2.1358	−0.010%	$73K	$493K	25x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1250	−0.515%	$130K	$512K	50x	as long as short
Lighter TRUMP	−0.0256%	1h	2.1339	−0.098%	$916K	$959K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1315	−0.211%	$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	2.1340	−0.094%	$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	−0.0174%	4h	2.1330	−0.140%	$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	−0.0086%	4h	2.1340	−0.094%	$5K	$299K	10x	as long as short
Bitget TRUMPUSDT	−0.0052%	4h	2.1360	0.000%	$15.4M	$24.8M	75x	as long as short
Aevo TRUMP-PERP	−0.0008%	1h	2.1330	−0.140%	$18K	—	3x	as long as short
dYdX TRUMP-USD	−0.0005%	1h	2.1355	−0.024%	$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	2.1313	−0.219%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1376	+0.077%	$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	2.1357	−0.012%	$13.4M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1360	0.000%	$402K	$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	2.1360	0.000%	$485K	$2.5M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1360	long leg	$193K	$449K	50x
Backpack TRUMP_USDC_PERP	+0.0144%	1h	2.1371	+0.051%	$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