Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.0069%/8h= −7.5% APRpaid last 24h +0.087%

Price spread now: Bybit against Reya+0.047%7-day average — · you sell dearer than you buy

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

Long on Reya Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropReya: Active · farm boardneeds both histories

The price spread pays, funding is against you. Bybit is 0.047% dearer against Reya than usual: you sell high and buy low (spread +0.047% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$2 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	Reya TRUMPRUSDPERP	2.1620	−0.0245	get 0.0031% / 1h	0m 15s	$5	—	10x
Short	Bybit TRUMPUSDT	2.1630	−0.0314	pay 0.0157% / 4h	2h 00m	$31.5M	$48.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now +0.047%Rate

Funding earned: −$14.47
Price spread: +0.047% → 0.000%: $4.74
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.73
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 2 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	2.31 bp	12.4 bp −$12	18.1 bp −$181	104.4 bp −$10.4K	doesn't fit

Reya: 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
Injective TRUMP/USDC PERP	−0.1841%	1h	2.1600	−0.091%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0363%	4h	2.1580	−0.184%	$670K	$398K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0318%	4h	2.1620	+0.001%	$27.5M	$174.9M	50x	as long as short
Bybit TRUMPUSDTshort	−0.0314%	4h	2.1630	+0.047%	$31.5M	$48.8M	50x
Binance TRUMPUSDT	−0.0306%	4h	2.1630	+0.047%	$63.5M	$238.6M	75x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1618	−0.009%	$75K	$496K	25x	as long as short
SoDEX TRUMP-USD	−0.0290%	1h	2.1625	+0.024%	$71	$6K	5x	as long as short
Reya TRUMPRUSDPERPlong	−0.0245%	1h	2.1620	long leg	$5	—	10x
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1580	−0.184%	$132K	$518K	50x	as long as short
Gate TRUMP_USDT	−0.0212%	4h	2.1630	+0.047%	$7.8M	$48.7M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0192%	1h	2.1629	+0.043%	$932K	$983K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0182%	8h	2.1616	−0.015%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0150%	4h	2.1642	+0.103%	$106K	$254K	20x	as long as short
MEXC TRUMP_USDC	−0.0126%	4h	2.1620	+0.001%	$391K	$153K	125x	as long as short
KuCoin TRUMPUSDTM	−0.0124%	4h	2.1630	+0.047%	$4.3M	$10.2M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0081%	4h	2.1610	−0.045%	$5K	$307K	10x	as long as short
BloFin TRUMP-USDT	−0.0064%	4h	2.1580	−0.184%	$4.3M	$675K	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0027%	1h	2.1635	+0.070%	$388K	$80K	10x	as long as short
Bitget TRUMPUSDT	−0.0014%	4h	2.1630	+0.047%	$15.5M	$25.3M	75x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1616	−0.017%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1609	−0.049%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1603	−0.078%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0015%	1h	2.1661	+0.191%	$1.3M	$2.0M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0044%	4h	2.1642	+0.102%	$181K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1643	+0.107%	$13.7M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1637	+0.079%	$408K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1622	+0.010%	$186K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1640	+0.094%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1660	+0.186%	$501K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1640	+0.094%	$134K	$326K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0193% / S −0.0188%	1h	2.1637	+0.079%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0263%	1h	2.1630	+0.047%	$383K	$401K	10x	as long as short