Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0063%/8h= −6.9% APRpaid last 24h +0.018%

Price spread now: Extended against edgeX−0.177%93s7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$480.478% of the position

Long on edgeX Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days−0.008%−$1 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.177%, 7d avg −0.039%

Together, before fees+0.044%+ Points / potential airdropedgeX: Active · Extended: Active · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Extended is 0.137% cheaper against edgeX than usual: you would sell low and buy high (−$14 if the spread goes back to its 7-day average of −0.039%). Swap the legs. The two prices were read 93 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	edgeX TRUMPUSDC	2.1667	−0.0049	get 0.0025% / 4h	3h 15m	$106K	$264K	20x
Short	Extended TRUMP-USD	2.1629	−0.0112	pay 0.0014% / 1h	15m 43s	$74K	$714K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against edgeX. 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 edgeXbpFee ExtendedbpOrdersPrice spread, now −0.177%Rate

Funding earned: −$13.14
Price spread: −0.177% → −0.039%: −$13.75
Slippage, 4 orders: −$33.83
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$74.72
Costs to cover: 0.478%
Break-even: never at this rate

Slippage from edgeX: live order book, 37 min ago; Extended: live order book, 37 min ago.

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 edgeX live order book, 37 min ago	6.88 bp	13.7 bp −$14	36.8 bp −$368	doesn't fit	doesn't fit
Sell Extended live order book, 37 min ago	6.89 bp	9.9 bp −$10	32.2 bp −$322	doesn't fit	doesn't fit

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	2.1550	−0.541%	$13K	$157K	12x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0350%	1h	2.1655	−0.056%	$408K	$72K	10x	as long as short
SoDEX TRUMP-USD	−0.0318%	1h	2.1648	−0.089%	$88	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0272%	8h	2.1664	−0.015%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1639	−0.130%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0160%	4h	2.1670	+0.013%	$7.9M	$52.0M	75x	as long as short
Binance TRUMPUSDT	−0.0116%	4h	2.1667	−0.003%	$61.2M	$246.6M	75x	as long as short
Extended TRUMP-USDshort	−0.0112%	1h	2.1629	−0.177%	$74K	$714K	25x
Bybit TRUMPUSDT	−0.0082%	4h	2.1670	+0.013%	$30.8M	$50.4M	50x	as long as short
edgeX TRUMPUSDClong	−0.0049%	4h	2.1667	long leg	$106K	$264K	20x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	−0.0041%	4h	2.1651	−0.074%	$669K	$488K	—	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1686	+0.085%	$27K	$512	5x	as long as short
Lighter TRUMP	+0.0008%	1h	2.1665	−0.010%	$957K	$976K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1671	+0.019%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0011%	4h	2.1660	−0.033%	$4K	$189K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0022%	4h	2.1660	−0.033%	$177K	$4.6M	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1638	−0.133%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1690	+0.105%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1679	+0.055%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1679	+0.054%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1660	−0.033%	$27.6M	$179.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1670	+0.013%	$406K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1660	−0.033%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1670	+0.013%	$15.7M	$26.1M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1680	+0.059%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1700	+0.151%	$495K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0125%	4h	2.1710	+0.197%	$4.2M	$664K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1675	+0.037%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1677	+0.046%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0194%	1h	2.1685	+0.082%	$384K	$399K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1670	+0.013%	$280K	$277K	50x	as long as short