Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0547%/8h= −59.9% APRpaid last 24h −0.046%

Price spread now: OKX against GMX+0.017%82s7-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 OKX

What this pair did over the last

the charts below follow

Funding, last 4 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$16 a day on $10k at the current rate. The two prices were read 82 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]	2.1456	L +0.0197% / S −0.0194%	pay 0.0025% / 1h	43m 57s	$11K	—	100x
Short	OKX TRUMP-USDT-SWAP	2.1460	−0.0350	pay 0.0175% / 4h	1h 43m	$27.3M	$172.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.017%Rate

Funding earned: −$114.88
Price spread: +0.017% → 0.000%: $1.66
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee OKX: 5 bp × 2 orders: −$10
Net: −$135.22
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; OKX: 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 OKX live order book, 3 min ago	2.33 bp	7.3 bp −$7	10.6 bp −$106	32.0 bp −$3,205	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 32 exchanges

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
Variational Omni TRUMP	−0.0413%	4h	2.1460	+0.014%	$668K	$399K	—	as long as short
SoDEX TRUMP-USD	−0.0383%	1h	2.1455	−0.007%	$78	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0371%	4h	2.1460	+0.017%	$31.3M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAPshort	−0.0350%	4h	2.1460	+0.017%	$27.3M	$172.8M	50x
Binance TRUMPUSDT	−0.0323%	4h	2.1463	+0.030%	$63.0M	$237.6M	75x	as long as short
Extended TRUMP-USD	−0.0320%	1h	2.1448	−0.040%	$74K	$491K	25x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.216%	$131K	$514K	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0262%	1h	2.1462	+0.026%	$385K	$78K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1430	−0.124%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0244%	4h	2.1460	+0.017%	$7.8M	$47.2M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0184%	8h	2.1413	−0.202%	$5K	$175	5x	as long as short
MEXC TRUMP_USDC	−0.0164%	4h	2.1440	−0.077%	$388K	$142K	125x	as long as short
edgeX TRUMPUSDC	−0.0161%	4h	2.1461	+0.023%	$105K	$254K	20x	as long as short
Lighter TRUMP	−0.0160%	1h	2.1454	−0.011%	$922K	$955K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0132%	4h	2.1450	−0.030%	$4.2M	$10.1M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0083%	4h	2.1440	−0.077%	$5K	$303K	10x	as long as short
BloFin TRUMP-USDT	−0.0081%	4h	2.1450	−0.030%	$4.3M	$675K	75x	as long as short
Bitget TRUMPUSDT	−0.0032%	4h	2.1470	+0.063%	$15.4M	$25.0M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1455	−0.008%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	0.0000%	1h	2.1439	−0.082%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1461	+0.019%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1484	+0.131%	$1.3M	$1.9M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.669%	$13K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0034%	4h	2.1477	+0.097%	$185K	$4.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1473	+0.077%	$13.6M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1468	+0.056%	$404K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1422	−0.160%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	+0.110%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1430	−0.123%	$496K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1480	+0.110%	$154K	$369K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0167%	1h	2.1491	+0.161%	$381K	$394K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0197% / S −0.0194%	1h	2.1456	long leg	$11K	—	100x