Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0037%/8h= −4.0% APRpaid last 24h −0.028%

Price spread now: HTX against GMX−0.080%52s7-day average — · you buy dearer than you sell

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

Long on GMX Short on HTX

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

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and HTX is 0.080% cheaper against GMX than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 52 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	GMX TRUMP/USD [ETH-USDC]	2.1587	L +0.0137% / S −0.0099%	pay 0.0017% / 1h	9m 23s	$9K	—	100x
Short	HTX TRUMP-USDT	2.1570	0.0100	get 0.0050% / 4h	2h 09m	$484K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.080%Rate

Funding earned: −$7.75
Price spread: −0.080% → 0.000%: −$8.01
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.76
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; HTX: live order book, 4 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 HTX live order book, 4 min ago	9.30 bp	18.9 bp −$19	48.0 bp −$480	doesn't fit	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	−0.1827%	1h	2.1480	−0.497%	$13K	$157K	12x	as long as short
Lighter TRUMP	−0.0368%	1h	2.1595	+0.036%	$954K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0323%	1h	2.1590	+0.013%	$83	$6K	5x	as long as short
Extended TRUMP-USD	−0.0280%	1h	2.1539	−0.224%	$74K	$739K	25x	as long as short
Binance TRUMPUSDT	−0.0278%	4h	2.1579	−0.040%	$60.8M	$250.5M	75x	as long as short
Bybit TRUMPUSDT	−0.0254%	4h	2.1560	−0.126%	$30.6M	$52.0M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	−0.073%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0193%	4h	2.1511	−0.352%	$664K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0179%	8h	2.1591	+0.018%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0167%	1h	2.1557	−0.140%	$406K	$72K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0139%	4h	2.1508	−0.369%	$105K	$264K	20x	as long as short
Gate TRUMP_USDT	−0.0116%	4h	2.1580	−0.034%	$7.7M	$53.7M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0083%	4h	2.1540	−0.219%	$26.7M	$184.6M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0062%	4h	2.1570	−0.080%	$5K	$233K	10x	as long as short
BloFin TRUMP-USDT	−0.0039%	4h	2.1520	−0.312%	$4.1M	$689K	75x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1600	+0.059%	$27K	$501	5x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1535	−0.242%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1583	−0.020%	$41K	—	150x	as long as short
GRVT TRUMP_USDT_Perp	+0.0018%	4h	2.1520	−0.312%	$182K	$4.7M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1592	+0.021%	$13.6M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1590	+0.013%	$406K	$771K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1609	+0.099%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1580	−0.034%	$402K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.013%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	−0.034%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	−0.034%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1570	−0.080%	$484K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]long	L +0.0137% / S −0.0099%	1h	2.1587	long leg	$9K	—	100x
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1613	+0.119%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0254%	1h	2.1618	+0.142%	$384K	$412K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1520	−0.312%	$238K	$363K	50x	as long as short