Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0332%/8h= +36.3% APRpaid last 24h +0.102%

Price spread now: Orderly against Reya−0.055%54s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. Orderly is 0.055% cheaper against Reya than usual: you would sell low and buy high (spread −0.055% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 13 hours of funding at the current rate (+$10 a day). The two prices were read 54 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	Reya TRUMPRUSDPERP	2.1912	−0.0245	get 0.0031% / 1h	4m 36s	$5	—	10x
Short	Orderly PERP_TRUMP_USDC	2.1900	0.0087	get 0.0043% / 4h	1h 04m	$3K	$249K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.055%Rate

Funding earned: $69.68
Price spread: −0.055% → 0.000%: −$5.5
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Orderly: 3 bp × 2 orders: −$6
Net: $52.19
Costs to cover: 0.120%
Break-even: 1.8 days

Slippage unknown: Reya: no order-book sample; 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 Reya no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Reya and 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 31 venues

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	−0.1472%	1h	2.1800	−0.511%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERPlong	−0.0245%	1h	2.1912	long leg	$5	—	10x
dYdX TRUMP-USD	0.0000%	1h	2.1904	−0.037%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1905	−0.032%	$411K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1906	−0.028%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1867	−0.207%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDCshort	+0.0087%	4h	2.1900	−0.055%	$3K	$249K	10x
Paradex TRUMP-USD-PERP	+0.0094%	8h	2.1903	−0.040%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1909	−0.014%	$986K	$724K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1936	+0.109%	$14.1M	$7.5M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1918	+0.028%	$456K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1913	+0.005%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1910	−0.009%	$62.4M	$220.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1910	−0.009%	$30.6M	$43.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1910	−0.009%	$26.9M	$150.8M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1900	−0.055%	$7.4M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1900	−0.055%	$481K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1910	−0.009%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1910	−0.009%	$15.5M	$21.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1912	0.000%	$693K	$272K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1911	−0.004%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1920	+0.036%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.078%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.036%	$523K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1901	−0.051%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1887	−0.116%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1902	−0.044%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0339%	1h	2.1922	+0.045%	$259K	$274K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1900	−0.055%	$4.2M	$626K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1930	+0.082%	$283K	$401K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0521%	1h	2.1925	+0.060%	$1.3M	$2.5M	50x	as long as short