Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.024%

Price spread now: Bitget against GMX+0.040%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 Bitget

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. Bitget is 0.040% dearer against GMX than usual: you sell high and buy low (spread +0.040% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 27 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1771	L +0.0216% / S −0.0188%	pay 0.0027% / 1h	49m 11s	$10K	—	100x
Short	Bitget TRUMPUSDT	2.1780	0.0100	get 0.0050% / 4h	3h 49m	$15.6M	$22.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.040%Rate

Funding earned: −$24.34
Price spread: +0.040% → 0.000%: $3.97
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$44.37
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bitget: 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 GMX no order-book sample	—	—	—	—	—
Sell Bitget live order book, 5 min ago	2.30 bp	8.3 bp −$8	13.5 bp −$135	43.8 bp −$4,377	doesn't fit

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	−0.1608%	1h	2.1650	−0.557%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1767	−0.021%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1747	−0.114%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1777	+0.026%	$408K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1766	−0.026%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1788	+0.076%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1770	−0.006%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1763	−0.038%	$973K	$715K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1756	−0.072%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1779	+0.035%	$454K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1768	−0.014%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1769	−0.010%	$62.4M	$226.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1770	−0.006%	$30.5M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1770	−0.006%	$26.9M	$152.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1770	−0.006%	$7.4M	$46.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1760	−0.052%	$472K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1770	−0.006%	$4.0M	$10.5M	50x	as long as short
Bitget TRUMPUSDTshort	+0.0100%	4h	2.1780	+0.040%	$15.6M	$22.2M	75x
Variational Omni TRUMP	+0.0100%	4h	2.1742	−0.137%	$636K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1800	+0.132%	$181K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1790	+0.086%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1775	+0.017%	$72	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1820	+0.223%	$551K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1770	−0.004%	$76K	$498K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1769	−0.009%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0209%	1h	2.1792	+0.095%	$14.1M	$7.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0216% / S −0.0188%	1h	2.1771	long leg	$10K	—	100x
BloFin TRUMP-USDT	+0.0340%	4h	2.1760	−0.052%	$4.2M	$625K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0410%	1h	2.1771	−0.002%	$256K	$283K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1760	−0.052%	$281K	$383K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0790%	1h	2.1801	+0.135%	$1.3M	$2.5M	50x	as long as short