Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0016%/8h= +1.8% APRpaid last 24h +0.019%

Price spread now: Bybit against SoDEX−0.023%7-day average — · you buy dearer than you sell

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

Long on SoDEX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 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. Bybit is 0.023% cheaper against SoDEX than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 4.8 days of funding at the current rate ($0 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SoDEX TRUMP-USD	2.1565	−0.0320	get 0.0040% / 1h	11m 46s	$67	$6K	5x
Short	Bybit TRUMPUSDT	2.1560	−0.0304	pay 0.0152% / 4h	2h 11m	$31.4M	$49.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against SoDEX. 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 SoDEXbpFee BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: $3.39
Price spread: −0.023% → 0.000%: −$2.32
Slippage, 4 orders: no order book: not counted
Fee SoDEX: 4 bp × 2 orders: −$8
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$17.93
Costs to cover: 0.190%
Break-even: 44.0 days

Slippage unknown: SoDEX: no order-book sample; Bybit: 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 SoDEX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	2.32 bp	7.8 bp −$8	16.4 bp −$164	98.6 bp −$9,862	doesn't fit

SoDEX: 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
Injective TRUMP/USDC PERP	−0.1841%	1h	2.1600	+0.162%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0368%	4h	2.1560	−0.021%	$669K	$403K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0326%	4h	2.1540	−0.116%	$27.3M	$176.5M	50x	as long as short
SoDEX TRUMP-USDlong	−0.0320%	1h	2.1565	long leg	$67	$6K	5x
Bybit TRUMPUSDTshort	−0.0304%	4h	2.1560	−0.023%	$31.4M	$49.4M	50x
Extended TRUMP-USD	−0.0304%	1h	2.1543	−0.102%	$74K	$496K	25x	as long as short
Binance TRUMPUSDT	−0.0301%	4h	2.1560	−0.023%	$63.3M	$241.1M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1540	−0.115%	$5	—	10x	as long as short
Lighter TRUMP	−0.0240%	1h	2.1560	−0.023%	$931K	$980K	10x	as long as short
Gate TRUMP_USDT	−0.0240%	4h	2.1560	−0.023%	$7.8M	$48.6M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.209%	$132K	$517K	50x	as long as short
Paradex TRUMP-USD-PERP	−0.0206%	8h	2.1548	−0.078%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0149%	4h	2.1555	−0.045%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0126%	4h	2.1560	−0.023%	$4.2M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0104%	4h	2.1550	−0.070%	$393K	$152K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0078%	4h	2.1550	−0.070%	$5K	$310K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0074%	1h	2.1573	+0.037%	$387K	$78K	10x	as long as short
BloFin TRUMP-USDT	−0.0061%	4h	2.1560	−0.023%	$4.3M	$680K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1570	+0.023%	$15.4M	$25.6M	75x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1575	+0.048%	$26K	$3K	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1547	−0.085%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1572	+0.031%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0016%	1h	2.1600	+0.164%	$1.3M	$2.1M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0030%	4h	2.1560	−0.023%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1584	+0.088%	$13.7M	$7.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1566	+0.004%	$406K	$655K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1564	−0.005%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1570	+0.023%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.070%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1570	+0.023%	$101K	$261K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0188% / S −0.0182%	1h	2.1578	+0.062%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0229%	1h	2.1592	+0.125%	$386K	$403K	10x	as long as short