Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0409%/8h= −44.8% APRpaid last 24h −0.036%

Price spread now: Binance against GMX+0.113%7-day average — · you sell dearer than you buy

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

Long on GMX Short on Binance

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

The price spread pays, funding is against you. Binance is 0.113% dearer against GMX than usual: you sell high and buy low (spread +0.113% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs −$12 a day in funding at the current rate, which eats that in about 22 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1219	L +0.0137% / S −0.0099%	pay 0.0017% / 1h	25m 52s	$9K	—	100x
Short	Binance TRUMPUSDT	2.1243	−0.0272	pay 0.0136% / 4h	2h 25m	$59.8M	$250.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now +0.113%Rate

Funding earned: −$85.96
Price spread: +0.113% → 0.000%: $11.26
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$96.7
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 3 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 3 min ago	2.36 bp	10.6 bp −$11	13.4 bp −$134	42.0 bp −$4,201	194.7 bp −$97.4K

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	−0.1827%	1h	2.1080	−0.655%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1198	−0.099%	$937K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0434%	1h	2.1205	−0.066%	$83	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0371%	4h	2.1210	−0.042%	$29.9M	$51.7M	50x	as long as short
Binance TRUMPUSDTshort	−0.0272%	4h	2.1243	+0.113%	$59.8M	$250.4M	75x
Extended TRUMP-USD	−0.0272%	1h	2.1224	+0.024%	$76K	$746K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1202	−0.081%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0228%	8h	2.1195	−0.111%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	−0.035%	$654K	$426K	—	as long as short
Gate TRUMP_USDT	−0.0188%	4h	2.1210	−0.042%	$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	+0.213%	$104K	$263K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0074%	4h	2.1210	−0.042%	$26.5M	$179.8M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0045%	4h	2.1180	−0.184%	$5K	$223K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0040%	4h	2.1215	−0.017%	$175K	$4.7M	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0033%	1h	2.1221	+0.010%	$400K	$72K	10x	as long as short
BloFin TRUMP-USDT	−0.0030%	4h	2.1160	−0.278%	$4.1M	$682K	75x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1202	−0.080%	$26K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1214	−0.022%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1190	−0.136%	$18K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1218	−0.004%	$13.3M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1249	+0.143%	$399K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1197	−0.102%	$182K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1220	+0.005%	$395K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1220	+0.005%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1240	+0.099%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1240	+0.099%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1240	+0.099%	$476K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0137% / S −0.0099%	1h	2.1219	long leg	$9K	—	100x
Backpack TRUMP_USDC_PERP	+0.0161%	1h	2.1244	+0.118%	$380K	$409K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0200%	1h	2.1226	+0.035%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1210	−0.042%	$241K	$341K	50x	as long as short