Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0345%/8h= +37.8% APRpaid last 24h +0.103%

Price spread now: Bybit against Reya−0.052%56s7-day average — · you buy dearer than you sell

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

Long on Reya Short on Bybit

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 airdropReya: Active · farm boardneeds both histories

Funding pays, the price is against you. Bybit is 0.052% cheaper against Reya than usual: you would sell low and buy high (spread −0.052% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 12 hours of funding at the current rate (+$10 a day). The two prices were read 56 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	Reya TRUMPRUSDPERP	2.2222	−0.0245	get 0.0031% / 1h	22m 35s	$5	—	10x
Short	Bybit TRUMPUSDT	2.2210	0.0100	get 0.0050% / 4h	3h 22m	$31.2M	$44.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Reya. 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 ReyabpFee BybitbpOrdersPrice spread, now −0.052%Rate

Funding earned: $72.42
Price spread: −0.052% → 0.000%: −$5.23
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $50.19
Costs to cover: 0.170%
Break-even: 2.1 days

Slippage unknown: Reya: no order-book sample; Bybit: live order book, 1 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 Reya no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	2.25 bp	7.8 bp −$8	15.8 bp −$158	111.8 bp −$11.2K	doesn't fit

Reya: 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	−0.1608%	1h	2.1910	−1.402%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERPlong	−0.0245%	1h	2.2222	long leg	$5	—	10x
dYdX TRUMP-USD	0.0000%	1h	2.2255	+0.150%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2234	+0.056%	$417K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2235	+0.062%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2107	−0.515%	$120K	$249K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2244	+0.101%	$988K	$777K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2230	+0.038%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2223	+0.006%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2241	+0.089%	$463K	$836K	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	2.2252	+0.137%	$192K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2220	−0.007%	$63.6M	$222.6M	75x	as long as short
Bybit TRUMPUSDTshort	+0.0100%	4h	2.2210	−0.052%	$31.2M	$44.6M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2220	−0.007%	$27.7M	$155.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2230	+0.038%	$7.7M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2230	+0.038%	$482K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2270	+0.218%	$4.5M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2230	+0.038%	$16.3M	$22.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.541%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2167	−0.248%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2250	+0.128%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2235	+0.060%	$77	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.308%	$563K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2210	−0.052%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2218	−0.014%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0162%	1h	2.2257	+0.159%	$14.4M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2237	+0.069%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2240	+0.083%	$4.2M	$643K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0476%	1h	2.2272	+0.227%	$283K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2280	+0.263%	$290K	$277K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0774%	1h	2.2263	+0.186%	$1.3M	$2.5M	50x	as long as short