Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0372%/8h= −40.7% APRnext payment −$1.86 per $10,000 · paid last 24h —

Price spread now: Gate against Phemex−0.046%7-day average — · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$131as in the Price arb table

costs, in and out, $10k−$1271.268% of the position

Long on Phemex Short on Gate

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

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Gate is 0.046% cheaper against Phemex than usual: you would sell low and buy high (−$5 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phemex TRUMPUSDT	2.1540	0.0100	pay 0.0050% / 4h	2h 19m	$88K	$236K	50x
Short	Gate TRUMP_USDT	2.1530	−0.0272	pay 0.0136% / 4h	2h 19m	$7.8M	$48.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.046%Rate

Funding earned: −$78.12
Price spread: −0.046% → 0.000%: −$4.64
Slippage, 4 orders: −$99.78
Fee Phemex: 6 bp × 2 orders: −$12
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$209.54
Costs to cover: 1.268%
Break-even: never at this rate

Slippage from Phemex: live order book, 16 min ago; Gate: live order book, 2 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, 16 min ago	6.99 bp	51.1 bp −$51	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 2 min ago	2.32 bp	13.2 bp −$13	29.6 bp −$296	71.2 bp −$7,122	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	+0.279%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0390%	4h	2.1541	+0.003%	$669K	$403K	—	as long as short
Bybit TRUMPUSDT	−0.0380%	4h	2.1520	−0.093%	$31.4M	$49.6M	50x	as long as short
SoDEX TRUMP-USD	−0.0337%	1h	2.1535	−0.023%	$65	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0335%	4h	2.1510	−0.139%	$27.2M	$177.5M	50x	as long as short
Binance TRUMPUSDT	−0.0298%	4h	2.1520	−0.093%	$63.2M	$241.7M	75x	as long as short
Extended TRUMP-USD	−0.0296%	1h	2.1521	−0.089%	$74K	$494K	25x	as long as short
Lighter TRUMP	−0.0272%	1h	2.1515	−0.116%	$931K	$979K	10x	as long as short
Gate TRUMP_USDTshort	−0.0272%	4h	2.1530	−0.046%	$7.8M	$48.5M	75x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1530	−0.044%	$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	−0.093%	$133K	$516K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0225%	8h	2.1513	−0.124%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0168%	1h	2.1546	+0.028%	$387K	$78K	10x	as long as short
edgeX TRUMPUSDC	−0.0150%	4h	2.1554	+0.067%	$105K	$253K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0122%	4h	2.1520	−0.093%	$4.2M	$10.3M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0081%	4h	2.1540	0.000%	$5K	$313K	10x	as long as short
MEXC TRUMP_USDC	−0.0078%	4h	2.1500	−0.186%	$392K	$151K	125x	as long as short
BloFin TRUMP-USDT	−0.0059%	4h	2.1580	+0.186%	$4.3M	$680K	75x	as long as short
Bitget TRUMPUSDT	−0.0022%	4h	2.1530	−0.046%	$15.4M	$25.7M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1556	+0.073%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1520	−0.093%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1563	+0.106%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1568	+0.129%	$1.3M	$2.2M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0020%	4h	2.1545	+0.024%	$178K	$4.2M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1543	+0.014%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1530	−0.046%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1519	−0.099%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1560	+0.093%	$1K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1570	+0.139%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1540	long leg	$88K	$236K	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0186% / S −0.0180%	1h	2.1549	+0.041%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0215%	1h	2.1568	+0.130%	$385K	$405K	10x	as long as short