Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.047%

Price spread now: edgeX against GMX−0.149%70s7-day average — · you buy dearer than you sell

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

Long on GMX Short on edgeX

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 airdropedgeX: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and edgeX is 0.149% cheaper against GMX than usual: you would sell low and buy high (−$15 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 70 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	GMX TRUMP/USD [ETH-USDC]	2.1620	L +0.0171% / S −0.0141%	pay 0.0021% / 1h	3m 50s	$10K	—	100x
Short	edgeX TRUMPUSDC	2.1588	−0.0069	pay 0.0035% / 4h	3h 03m	$105K	$264K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against GMX. 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 GMXbpFee edgeXbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$50.46
Price spread: −0.149% → 0.000%: −$14.86
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$86.32
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; edgeX: live order book, 49 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 GMX no order-book sample	—	—	—	—	—
Sell edgeX live order book, 49 min ago	6.88 bp	14.4 bp −$14	40.9 bp −$409	doesn't fit	doesn't fit

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	−0.1765%	1h	2.1490	−0.603%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0383%	1h	2.1605	−0.071%	$87	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1629	+0.038%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0238%	8h	2.1616	−0.020%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0166%	1h	2.1617	−0.016%	$407K	$72K	10x	as long as short
Extended TRUMP-USD	−0.0160%	1h	2.1569	−0.236%	$77K	$718K	25x	as long as short
Binance TRUMPUSDT	−0.0159%	4h	2.1560	−0.280%	$61.0M	$246.9M	75x	as long as short
Bybit TRUMPUSDT	−0.0116%	4h	2.1560	−0.280%	$30.7M	$50.7M	50x	as long as short
Gate TRUMP_USDT	−0.0104%	4h	2.1590	−0.141%	$7.8M	$52.5M	75x	as long as short
edgeX TRUMPUSDCshort	−0.0069%	4h	2.1588	−0.149%	$105K	$264K	20x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0064%	1h	2.1600	−0.095%	$954K	$977K	10x	as long as short
Variational Omni TRUMP	−0.0058%	4h	2.1621	+0.004%	$668K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1626	+0.026%	$27K	$512	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0003%	4h	2.1610	−0.048%	$5K	$199K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1625	+0.021%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0012%	4h	2.1626	+0.027%	$180K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1595	−0.118%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0061%	4h	2.1550	−0.326%	$27.6M	$179.0M	50x	as long as short
BloFin TRUMP-USDT	+0.0085%	4h	2.1610	−0.048%	$4.2M	$650K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1627	+0.030%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1581	−0.182%	$406K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1627	+0.030%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1570	−0.233%	$401K	$152K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	−0.141%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1570	−0.233%	$15.6M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1650	+0.137%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1640	+0.090%	$493K	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0171% / S −0.0141%	1h	2.1620	long leg	$10K	—	100x
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1635	+0.068%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0204%	1h	2.1644	+0.109%	$383K	$403K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1650	+0.137%	$298K	$301K	50x	as long as short