Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0116%/8h= −12.7% APRpaid last 24h −0.026%

Price spread now: KuCoin against GMX+0.140%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 KuCoin

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. KuCoin is 0.140% dearer against GMX than usual: you sell high and buy low (spread +0.140% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.0 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1739	L +0.0216% / S −0.0188%	pay 0.0027% / 1h	25m 40s	$10K	—	100x
Short	KuCoin TRUMPUSDTM	2.1770	0.0100	get 0.0050% / 4h	1h 25m	$4.2M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.140%Rate

Funding earned: −$24.41
Price spread: +0.140% → 0.000%: $14.04
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$34.37
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: 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 KuCoin live order book, 3 min ago	4.60 bp	21.5 bp −$21	70.8 bp −$708	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	−0.1659%	1h	2.1620	−0.550%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1741	+0.007%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0056%	4h	2.1780	+0.186%	$7.6M	$50.0M	75x	as long as short
Lighter TRUMP	−0.0032%	1h	2.1750	+0.048%	$968K	$795K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1755	+0.073%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1741	+0.007%	$409K	$72K	10x	as long as short
SoDEX TRUMP-USD	+0.0003%	1h	2.1730	−0.044%	$84	$6K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1745	+0.023%	$42K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0041%	8h	2.1783	+0.200%	$5K	$175	5x	as long as short
Bybit TRUMPUSDT	+0.0050%	4h	2.1780	+0.186%	$31.1M	$48.3M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0050%	4h	2.1802	+0.287%	$106K	$262K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0073%	4h	2.1730	−0.044%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1774	+0.159%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1760	+0.096%	$430K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1769	+0.136%	$187K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1770	+0.140%	$63.0M	$237.2M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1780	+0.186%	$27.4M	$170.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1770	+0.140%	$417K	$150K	125x	as long as short
KuCoin TRUMPUSDTMshort	+0.0100%	4h	2.1770	+0.140%	$4.2M	$11.0M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1790	+0.232%	$15.5M	$25.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1721	−0.087%	$682K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1750	+0.049%	$177K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1760	+0.094%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1770	+0.140%	$533K	$1.9M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0103%	1h	2.1762	+0.104%	$255K	$319K	10x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1754	+0.068%	$115K	$706K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1718	−0.101%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0216% / S −0.0188%	1h	2.1739	long leg	$10K	—	100x
Kraken Futures PF_TRUMPUSD	+0.0288%	1h	2.1761	+0.100%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1700	−0.182%	$4.2M	$655K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.412%	$280K	$297K	50x	as long as short