Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0227%/8h= +24.8% APRpaid last 24h 0.000%

Price spread now: Orderly against Extended−0.090%7-day average +0.026% · you buy dearer than you sell

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

Long on Extended Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.080%+$8 on $10k

Price spread, last 4 days (all we have)+0.084%+$8 · spread now −0.090%, 7d avg +0.026%

Together, before fees+0.164%+ Points / potential airdropExtended: Active · farm board+$16 on $10k · with fees, hour by hour

Funding pays, the price is against you. Orderly is 0.116% cheaper against Extended than usual: you would sell low and buy high (spread −0.090% now, against its 7-day average of +0.026%). If the spread goes back, that is −$12 on $10k: about 41 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.080% in total) that is about 10 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.080% in total (about 4.2% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TRUMP-USD	2.1199	−0.0272	get 0.0034% / 1h	26m 11s	$76K	$746K	25x
Short	Orderly PERP_TRUMP_USDC	2.1180	−0.0045	pay 0.0023% / 4h	2h 26m	$5K	$223K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Extended. 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 ExtendedbpFee OrderlybpOrdersPrice spread, now −0.090%Rate

Funding earned: $47.57
Price spread: −0.090% → +0.026%: −$11.59
Slippage, 4 orders: no order book: not counted
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Orderly: 3 bp × 2 orders: −$6
Net: $24.97
Costs to cover: 0.110%
Break-even: 3.3 days

Slippage unknown: Extended: live order book, 22 min ago; Orderly: 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 Extended live order book, 22 min ago	4.66 bp	7.7 bp −$8	29.5 bp −$295	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

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	−0.1827%	1h	2.1080	−0.562%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1198	−0.005%	$937K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0434%	1h	2.1205	+0.028%	$83	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0371%	4h	2.1200	+0.004%	$29.9M	$51.7M	50x	as long as short
Binance TRUMPUSDT	−0.0272%	4h	2.1211	+0.056%	$59.7M	$250.4M	75x	as long as short
Extended TRUMP-USDlong	−0.0272%	1h	2.1199	long leg	$76K	$746K	25x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1202	+0.013%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0228%	8h	2.1195	−0.017%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	+0.059%	$654K	$426K	—	as long as short
Gate TRUMP_USDT	−0.0188%	4h	2.1210	+0.052%	$7.6M	$53.3M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0132%	4h	2.1264	+0.307%	$104K	$263K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0074%	4h	2.1210	+0.052%	$26.5M	$179.8M	50x	as long as short
Orderly PERP_TRUMP_USDCshort	−0.0045%	4h	2.1180	−0.090%	$5K	$223K	10x
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	+0.076%	$175K	$4.7M	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0033%	1h	2.1221	+0.103%	$400K	$72K	10x	as long as short
BloFin TRUMP-USDT	−0.0030%	4h	2.1160	−0.184%	$4.1M	$682K	75x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1202	+0.014%	$26K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1214	+0.071%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1190	−0.043%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1218	+0.089%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1236	+0.173%	$399K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1197	−0.008%	$182K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1210	+0.052%	$395K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1220	+0.099%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1210	+0.052%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1240	+0.193%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1240	+0.193%	$476K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1219	+0.094%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0161%	1h	2.1244	+0.212%	$380K	$409K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0200%	1h	2.1226	+0.129%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1210	+0.052%	$241K	$341K	50x	as long as short