Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h —

Price spread now: Deribit against Phemex+0.070%7-day average — · 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−$119as in the Price arb table

costs, in and out, $10k−$1261.256% of the position

Long on Phemex Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Deribit is 0.070% dearer against Phemex than usual: you sell high and buy low (spread +0.070% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TRUMPUSDT	2.1570	0.0100	pay 0.0050% / 4h	2h 17m	$92K	$244K	50x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1585	0	get 0.0000% / 1h	17m 42s	$387K	$78K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$21
Price spread: +0.070% → 0.000%: $6.95
Slippage, 4 orders: −$106.6
Fee Phemex: 6 bp × 2 orders: −$12
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$139.65
Costs to cover: 1.256%
Break-even: never at this rate

Slippage from Phemex: live order book, 18 min ago; Deribit: live order book, 34 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, 18 min ago	6.99 bp	51.1 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 34 min ago	5.58 bp	10.5 bp −$10	19.3 bp −$193	doesn't fit	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
Injective TRUMP/USDC PERP	−0.1841%	1h	2.1600	+0.139%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0390%	4h	2.1541	−0.136%	$669K	$403K	—	as long as short
Bybit TRUMPUSDT	−0.0353%	4h	2.1550	−0.093%	$31.4M	$49.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0337%	4h	2.1540	−0.139%	$27.3M	$177.3M	50x	as long as short
SoDEX TRUMP-USD	−0.0327%	1h	2.1570	0.000%	$67	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0297%	4h	2.1550	−0.093%	$63.3M	$241.7M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1549	−0.099%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0272%	1h	2.1549	−0.097%	$932K	$979K	10x	as long as short
Gate TRUMP_USDT	−0.0264%	4h	2.1550	−0.093%	$7.8M	$48.5M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1570	+0.002%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.232%	$133K	$516K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0217%	8h	2.1544	−0.119%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1552	−0.085%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0122%	4h	2.1560	−0.046%	$4.2M	$10.3M	50x	as long as short
MEXC TRUMP_USDC	−0.0084%	4h	2.1530	−0.185%	$392K	$151K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0079%	4h	2.1580	+0.046%	$5K	$312K	10x	as long as short
BloFin TRUMP-USDT	−0.0058%	4h	2.1510	−0.278%	$4.3M	$679K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1570	0.000%	$15.4M	$25.7M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1576	+0.026%	$26K	$3K	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1585	+0.070%	$387K	$78K	10x
Aevo TRUMP-PERP	+0.0008%	1h	2.1559	−0.050%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1544	−0.121%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1605	+0.164%	$1.3M	$2.1M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0020%	4h	2.1545	−0.116%	$178K	$4.2M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1574	+0.019%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1560	−0.046%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1553	−0.079%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	+0.046%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.046%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1570	long leg	$92K	$244K	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0187% / S −0.0181%	1h	2.1548	−0.103%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0220%	1h	2.1598	+0.130%	$386K	$404K	10x	as long as short