Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.025%

Price spread now: GMX against Bybit−0.034%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.034% cheaper against Bybit than usual: you would sell low and buy high (spread −0.034% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 31 hours of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.2060	0.0100	pay 0.0050% / 4h	2h 57m	$31.3M	$47.0M	50x
Short	GMX TRUMP/USD [ETH-USDC]	2.2052	L +0.0217% / S −0.0188%	get 0.0023% / 1h	57m 44s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.034%Rate

Funding earned: $18.46
Price spread: −0.034% → 0.000%: −$3.4
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$7.94
Costs to cover: 0.230%
Break-even: 10.0 days

Slippage unknown: Bybit: live order book, 1 min ago; GMX: no order-book sample. 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 Bybit live order book, 1 min ago	2.27 bp	7.8 bp −$8	19.8 bp −$198	134.6 bp −$13.5K	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	−0.1623%	1h	2.1990	−0.317%	$13K	$157K	12x	as long as short
Lighter TRUMP	−0.0352%	1h	2.2058	−0.009%	$980K	$779K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2062	+0.007%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2066	+0.025%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2035	−0.113%	$415K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2044	−0.072%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2199	+0.632%	$108K	$263K	20x	as long as short
SoDEX TRUMP-USD	+0.0062%	1h	2.2027	−0.150%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0080%	8h	2.2077	+0.075%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0092%	4h	2.2040	−0.091%	$3K	$248K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRUMP	+0.0100%	1h	2.2087	+0.122%	$14.4M	$6.7M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2076	+0.074%	$437K	$860K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2056	−0.018%	$191K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2060	0.000%	$63.7M	$231.6M	75x	as long as short
Bybit TRUMPUSDTlong	+0.0100%	4h	2.2060	long leg	$31.3M	$47.0M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2070	+0.045%	$28.7M	$164.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2090	+0.136%	$7.9M	$47.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2050	−0.045%	$470K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2070	+0.045%	$4.1M	$10.8M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2110	+0.227%	$15.8M	$23.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2051	−0.040%	$702K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2080	+0.091%	$186K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2050	−0.045%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2130	+0.317%	$574K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2095	+0.157%	$79K	$595K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2037	−0.105%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0156%	1h	2.2070	+0.045%	$261K	$312K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0217% / S −0.0188%	1h	2.2052	−0.034%	$10K	—	100x
BloFin TRUMP-USDT	+0.0340%	4h	2.2100	+0.181%	$4.3M	$672K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0512%	1h	2.2050	−0.045%	$1.3M	$2.4M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2230	+0.771%	$292K	$286K	50x	as long as short