Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0260%/8h= +28.4% APRpaid last 24h +0.038%

Price spread now: GMX against Binance−0.241%50s7-day average — · you buy dearer than you sell

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

Long on Binance Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.241% cheaper against Binance than usual: you would sell low and buy high (spread −0.241% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$24 on $10k: about 3.1 days of funding at the current rate (+$8 a day). The two prices were read 50 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	Binance TRUMPUSDT	2.1561	−0.0161	get 0.0081% / 4h	48m 23s	$61.0M	$251.0M	75x
Short	GMX TRUMP/USD [ETH-USDC]	2.1509	L +0.0137% / S −0.0098%	get 0.0012% / 1h	48m 23s	$9K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Binance. 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 BinancebpFee GMXbpOrdersPrice spread, now −0.241%Rate

Funding earned: $54.53
Price spread: −0.241% → 0.000%: −$24.1
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $8.43
Costs to cover: 0.220%
Break-even: 5.9 days

Slippage unknown: Binance: live order book, 10 min ago; GMX: 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 Binance live order book, 10 min ago	2.34 bp	7.3 bp −$7	10.4 bp −$104	31.0 bp −$3,100	264.3 bp −$132.1K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.1797%	1h	2.1370	−0.886%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0260%	1h	2.1495	−0.307%	$82	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1491	−0.324%	$5	—	10x	as long as short
Binance TRUMPUSDTlong	−0.0161%	4h	2.1561	long leg	$61.0M	$251.0M	75x
Extended TRUMP-USD	−0.0160%	1h	2.1544	−0.079%	$74K	$493K	25x	as long as short
Variational Omni TRUMP	−0.0140%	4h	2.1411	−0.697%	$661K	$423K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0130%	4h	2.1550	−0.052%	$26.7M	$185.2M	50x	as long as short
Lighter TRUMP	−0.0112%	1h	2.1534	−0.126%	$942K	$1.0M	10x	as long as short
Gate TRUMP_USDT	−0.0088%	4h	2.1540	−0.098%	$7.7M	$53.1M	75x	as long as short
edgeX TRUMPUSDC	−0.0081%	4h	2.1434	−0.592%	$105K	$255K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0078%	4h	2.1560	−0.005%	$30.7M	$52.7M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0075%	1h	2.1509	−0.242%	$405K	$81K	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0050%	4h	2.1480	−0.376%	$5K	$262K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0047%	8h	2.1541	−0.094%	$5K	$175	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1552	−0.044%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1504	−0.263%	$41K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1482	−0.368%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1490	−0.330%	$173K	$463K	50x	as long as short
KuCoin TRUMPUSDTM	+0.0058%	4h	2.1540	−0.098%	$4.2M	$10.9M	50x	as long as short
BloFin TRUMP-USDT	+0.0079%	4h	2.1520	−0.191%	$4.2M	$704K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1582	+0.097%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1571	+0.047%	$405K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1545	−0.076%	$185K	$53K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	−0.052%	$401K	$146K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1570	+0.041%	$15.4M	$27.0M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1429	−0.613%	$177K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1520	−0.191%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1520	−0.191%	$483K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0137% / S −0.0098%	1h	2.1509	−0.241%	$9K	—	100x
Backpack TRUMP_USDC_PERP	+0.0287%	1h	2.1544	−0.079%	$385K	$423K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0597%	1h	2.1527	−0.160%	$1.3M	$2.3M	50x	as long as short