Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0027%/8h= −2.9% APRpaid last 24h +0.029%

Price spread now: Bitget against dYdX+0.068%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 6 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

The price spread pays, funding is against you. Bitget is 0.068% dearer against dYdX than usual: you sell high and buy low (spread +0.068% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 8.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TRUMP-USD	2.1455	−0.0009	get 0.0001% / 1h	1m 37s	$25K	$3K	5x
Short	Bitget TRUMPUSDT	2.1470	−0.0036	pay 0.0018% / 4h	1h 01m	$15.6M	$24.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against dYdX. 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 dYdXbpFee BitgetbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$5.57
Price spread: +0.068% → 0.000%: $6.79
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$20.77
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: dYdX: no order-book sample; Bitget: live order book, 5 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 dYdX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	2.33 bp	11.4 bp −$11	15.9 bp −$159	40.2 bp −$4,024	doesn't fit

dYdX: 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
SoDEX TRUMP-USD	−0.0438%	1h	2.1435	−0.095%	$82	$6K	5x	as long as short
Variational Omni TRUMP	−0.0378%	4h	2.1449	−0.028%	$667K	$400K	—	as long as short
Extended TRUMP-USD	−0.0376%	1h	2.1448	−0.035%	$74K	$488K	25x	as long as short
Binance TRUMPUSDT	−0.0376%	4h	2.1463	+0.034%	$62.8M	$237.0M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0345%	4h	2.1470	+0.068%	$27.1M	$173.0M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0309%	1h	2.1445	−0.049%	$385K	$79K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.212%	$128K	$521K	50x	as long as short
Bybit TRUMPUSDT	−0.0286%	4h	2.1470	+0.068%	$31.2M	$48.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0254%	4h	2.1440	−0.072%	$388K	$145K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1429	−0.122%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0216%	1h	2.1450	−0.025%	$918K	$969K	10x	as long as short
Gate TRUMP_USDT	−0.0190%	4h	2.1450	−0.025%	$7.7M	$48.1M	75x	as long as short
KuCoin TRUMPUSDTM	−0.0190%	4h	2.1440	−0.072%	$4.3M	$10.1M	50x	as long as short
edgeX TRUMPUSDC	−0.0186%	4h	2.1429	−0.125%	$105K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0168%	8h	2.1450	−0.027%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0133%	4h	2.1440	−0.072%	$4.3M	$658K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0096%	4h	2.1430	−0.118%	$5K	$293K	10x	as long as short
Bitget TRUMPUSDTshort	−0.0036%	4h	2.1470	+0.068%	$15.6M	$24.8M	75x
Aevo TRUMP-PERP	−0.0016%	1h	2.1422	−0.156%	$19K	—	3x	as long as short
dYdX TRUMP-USDlong	−0.0009%	1h	2.1455	long leg	$25K	$3K	5x
GRVT TRUMP_USDT_Perp	+0.0008%	4h	2.1445	−0.050%	$180K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1453	−0.012%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1475	+0.093%	$1.4M	$2.1M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.674%	$13K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1471	+0.073%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1462	+0.032%	$405K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1459	+0.017%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1470	+0.068%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	+0.021%	$487K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1460	+0.021%	$253K	$565K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0174%	1h	2.1472	+0.077%	$384K	$391K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0214% / S −0.0215%	1h	2.1450	−0.026%	$11K	—	100x	as long as short