Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.024%

Price spread now: GMX against Bitget−0.033%7-day average — · you buy dearer than you sell

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

Long on Bitget 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 0.033% cheaper against Bitget than usual: you would sell low and buy high (spread −0.033% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 30 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRUMPUSDT	2.2050	0.0100	pay 0.0050% / 4h	38m 22s	$15.8M	$21.5M	75x
Short	GMX TRUMP/USD [ETH-USDC]	2.2043	L +0.0216% / S −0.0188%	get 0.0023% / 1h	38m 22s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.033%Rate

Funding earned: $18.46
Price spread: −0.033% → 0.000%: −$3.33
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$8.86
Costs to cover: 0.240%
Break-even: 10.4 days

Slippage unknown: Bitget: live order book, 5 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 Bitget live order book, 5 min ago	2.26 bp	8.3 bp −$8	13.0 bp −$130	44.0 bp −$4,402	doesn't fit
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	−0.1537%	1h	2.1970	−0.363%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2037	−0.057%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2027	−0.104%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2052	+0.009%	$414K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2046	−0.016%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2072	+0.100%	$120K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0091%	4h	2.2050	0.000%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2022	−0.127%	$987K	$738K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0096%	8h	2.2022	−0.126%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2040	−0.043%	$459K	$832K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2025	−0.112%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2049	−0.003%	$63.6M	$224.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2040	−0.045%	$31.1M	$44.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2050	0.000%	$27.2M	$152.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2040	−0.045%	$7.5M	$48.2M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2030	−0.091%	$482K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2050	0.000%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDTlong	+0.0100%	4h	2.2050	long leg	$15.8M	$21.5M	75x
Variational Omni TRUMP	+0.0100%	4h	2.2082	+0.146%	$648K	$373K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2096	+0.210%	$193K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2080	+0.136%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2046	−0.018%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2050	0.000%	$564K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2041	−0.040%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2034	−0.071%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0216% / S −0.0188%	1h	2.2043	−0.033%	$10K	—	100x
Hyperliquid TRUMP	+0.0335%	1h	2.2070	+0.091%	$14.2M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2030	−0.091%	$4.3M	$636K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.045%	$285K	$391K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0510%	1h	2.2048	−0.009%	$260K	$278K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0866%	1h	2.2070	+0.092%	$1.3M	$2.5M	50x	as long as short