TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0031%/8h= −3.4% APRnext payment −$0.16 per $10,000 · paid last 24h +0.004%

Price spread now: Bybit against Orderly−0.234%50s7-day average +0.012% · you buy dearer than you sell

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.205%+$20 · spread now −0.234%, 7d avg +0.012%

Together, before fees+0.202%+$20 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Bybit is 0.245% cheaper against Orderly than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of +0.012%). Swap the legs. 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	Orderly PERP_TRUMP_USDC	2.1400	−0.0048	get 0.0024% / 4h	56m 32s	$5K	$261K	10x
Short	Bybit TRUMPUSDT	2.1350	−0.0079	pay 0.0039% / 4h	56m 32s	$30.3M	$52.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now −0.234%Rate

Funding earned: −$6.55
Price spread: −0.234% → +0.012%: −$24.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$48.07
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Orderly: 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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	2.34 bp	8.6 bp −$9	16.3 bp −$163	95.3 bp −$9,525	doesn't fit

Orderly: 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	2.1310	−0.421%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0276%	1h	2.1387	−0.061%	$82	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0264%	1h	2.1401	+0.005%	$403K	$81K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1339	−0.285%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0163%	4h	2.1350	−0.234%	$60.4M	$250.8M	75x	as long as short
Extended TRUMP-USD	−0.0160%	1h	2.1349	−0.239%	$74K	$493K	25x	as long as short
OKX TRUMP-USDT-SWAP	−0.0125%	4h	2.1360	−0.187%	$26.4M	$183.6M	50x	as long as short
Variational Omni TRUMP	−0.0118%	4h	2.1401	+0.006%	$661K	$423K	—	as long as short
Gate TRUMP_USDT	−0.0106%	4h	2.1360	−0.187%	$7.6M	$53.1M	75x	as long as short
Lighter TRUMP	−0.0096%	1h	2.1368	−0.150%	$934K	$1.0M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0082%	4h	2.1403	+0.015%	$104K	$254K	20x	as long as short
Bybit TRUMPUSDTshort	−0.0079%	4h	2.1350	−0.234%	$30.3M	$52.6M	50x
Orderly PERP_TRUMP_USDClong	−0.0048%	4h	2.1400	long leg	$5K	$261K	10x
Paradex TRUMP-USD-PERP	−0.0047%	8h	2.1355	−0.209%	$5K	$175	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1406	+0.029%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1404	+0.020%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1383	−0.081%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1360	−0.187%	$173K	$454K	50x	as long as short
KuCoin TRUMPUSDTM	+0.0064%	4h	2.1370	−0.140%	$4.1M	$11.0M	50x	as long as short
BloFin TRUMP-USDT	+0.0077%	4h	2.1380	−0.093%	$4.1M	$699K	75x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1377	−0.107%	$13.5M	$8.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1372	−0.131%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1382	−0.084%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1350	−0.234%	$397K	$146K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1350	−0.234%	$15.2M	$27.0M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1414	+0.064%	$173K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1400	0.000%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	+0.047%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0098%	1h	2.1402	+0.010%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0211%	1h	2.1418	+0.084%	$379K	$417K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0600%	1h	2.1418	+0.085%	$1.3M	$2.3M	50x	as long as short