Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0020%/8h= −2.2% APRpaid last 24h +0.013%

Price spread now: Bybit against SoDEX−0.023%7-day average — · you buy dearer than you sell

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

Long on SoDEX 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—needs both histories

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.023% cheaper against SoDEX than usual: you would sell low and buy high (−$2 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	SoDEX TRUMP-USD	2.1375	−0.0501	get 0.0063% / 1h	32m 10s	$69	$6K	5x
Short	Bybit TRUMPUSDT	2.1370	−0.0522	pay 0.0261% / 4h	3h 32m	$30.6M	$51.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: −$4.27
Price spread: −0.023% → 0.000%: −$2.34
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$25.61
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: SoDEX: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	2.34 bp	7.8 bp −$8	14.3 bp −$143	98.0 bp −$9,802	doesn't fit

SoDEX: 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	−0.1829%	1h	2.1350	−0.117%	$12K	$157K	12x	as long as short
Bybit TRUMPUSDTshort	−0.0522%	4h	2.1370	−0.023%	$30.6M	$51.8M	50x
SoDEX TRUMP-USDlong	−0.0501%	1h	2.1375	long leg	$69	$6K	5x
Gate TRUMP_USDT	−0.0328%	4h	2.1370	−0.023%	$7.7M	$49.7M	75x	as long as short
Variational Omni TRUMP	−0.0300%	4h	2.1451	+0.358%	$662K	$415K	—	as long as short
Binance TRUMPUSDT	−0.0252%	4h	2.1390	+0.070%	$61.3M	$248.1M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0250%	4h	2.1370	−0.023%	$26.8M	$181.8M	50x	as long as short
Extended TRUMP-USD	−0.0248%	1h	2.1364	−0.049%	$74K	$494K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1366	−0.040%	$5	—	10x	as long as short
Lighter TRUMP	−0.0216%	1h	2.1376	+0.005%	$934K	$991K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0159%	8h	2.1392	+0.081%	$5K	$175	5x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1360	−0.070%	$148K	$493K	50x	as long as short
edgeX TRUMPUSDC	−0.0126%	4h	2.1455	+0.376%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0099%	4h	2.1400	+0.117%	$5K	$296K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0077%	1h	2.1388	+0.061%	$387K	$81K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0054%	4h	2.1370	−0.023%	$4.1M	$10.7M	50x	as long as short
GRVT TRUMP_USDT_Perp	−0.0042%	4h	2.1454	+0.368%	$181K	$4.3M	10x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1407	+0.148%	$26K	$2K	5x	as long as short
BloFin TRUMP-USDT	−0.0012%	4h	2.1380	+0.023%	$4.2M	$684K	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1385	+0.045%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1484	+0.512%	$19K	—	3x	as long as short
Bitget TRUMPUSDT	+0.0020%	4h	2.1380	+0.023%	$15.2M	$26.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0094%	4h	2.1370	−0.023%	$397K	$149K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1401	+0.123%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1403	+0.130%	$407K	$716K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1415	+0.187%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1410	+0.164%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1390	+0.070%	$495K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0122%	1h	2.1414	+0.181%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1383	+0.040%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0284%	1h	2.1425	+0.234%	$382K	$422K	10x	as long as short