Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.95 per $10,000 · paid last 24h —

Price spread now: Orderly against Phemex+0.187%53s7-day average −0.062% · you sell dearer than you buy

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

Long on Phemex Short on Orderly

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)−0.249%−$25 · spread now +0.187%, 7d avg −0.062%

Together, before fees—needs both histories

The price spread pays, funding is against you. Orderly is 0.249% dearer against Phemex than usual: you sell high and buy low (spread +0.187% now, against its 7-day average of −0.062%): +$25 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 4.4 days. The two prices were read 53 seconds apart, so part of this spread may be the market moving, not a spread.

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	47m 21s	$278K	$615K	50x
Short	Orderly PERP_TRUMP_USDC	2.1400	−0.0090	pay 0.0045% / 4h	47m 21s	$5K	$291K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Phemex. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 OrderlybpOrdersPrice spread, now +0.187%Rate

Funding earned: −$39.9
Price spread: +0.187% → −0.062%: $24.93
Slippage, 4 orders: no order book: not counted
Fee Phemex: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$32.97
Costs to cover: 0.180%
Break-even: from the start

Slippage unknown: Phemex: live order book, 43 min ago; Orderly: 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 Phemex live order book, 43 min ago	4.69 bp	44.3 bp −$44	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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 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	−0.0449%	1h	2.1355	−0.023%	$80	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0387%	4h	2.1405	+0.211%	$62.6M	$235.8M	75x	as long as short
Extended TRUMP-USD	−0.0384%	1h	2.1388	+0.130%	$76K	$486K	25x	as long as short
Variational Omni TRUMP	−0.0381%	4h	2.1339	−0.097%	$664K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0325%	4h	2.1410	+0.234%	$31.1M	$48.1M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.421%	$125K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0311%	4h	2.1390	+0.140%	$27.1M	$172.4M	50x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1380	+0.094%	$914K	$929K	10x	as long as short
MEXC TRUMP_USDC	−0.0280%	4h	2.1380	+0.094%	$387K	$142K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1400	+0.185%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TRUMPUSDTM	−0.0232%	4h	2.1400	+0.187%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0230%	4h	2.1390	+0.140%	$7.7M	$46.3M	75x	as long as short
edgeX TRUMPUSDC	−0.0193%	4h	2.1316	−0.205%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0159%	8h	2.1388	+0.131%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0146%	4h	2.1280	−0.375%	$4.3M	$652K	75x	as long as short
Orderly PERP_TRUMP_USDCshort	−0.0090%	4h	2.1400	+0.187%	$5K	$291K	10x
Bitget TRUMPUSDT	−0.0034%	4h	2.1410	+0.234%	$15.5M	$24.7M	75x	as long as short
dYdX TRUMP-USD	−0.0025%	1h	2.1384	+0.114%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1540	+0.841%	$19K	—	3x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1377	+0.080%	$384K	$67K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0002%	4h	2.1334	−0.124%	$179K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1413	+0.247%	$40K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.047%	$12K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1409	+0.229%	$13.6M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1410	+0.234%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1372	+0.056%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1380	+0.094%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1360	0.000%	$484K	$2.4M	50x	as long as short
Phemex TRUMPUSDTlong	+0.0100%	4h	2.1360	long leg	$278K	$615K	50x
Backpack TRUMP_USDC_PERP	+0.0164%	1h	2.1387	+0.126%	$382K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0220% / S −0.0222%	1h	2.1417	+0.266%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0327%	1h	2.1396	+0.167%	$1.4M	$2.1M	50x	as long as short