Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0162%/8h= −17.7% APRpaid last 24h −0.032%

Price spread now: Orderly against GMX−0.043%7-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 Orderly

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 −$5 a day on $10k at the current rate, and Orderly is 0.043% cheaper against GMX than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRUMP/USD [ETH-USDC]	2.1659	L +0.0171% / S −0.0141%	pay 0.0021% / 1h	14m 15s	$10K	—	100x
Short	Orderly PERP_TRUMP_USDC	2.1650	0.0009	get 0.0005% / 4h	3h 14m	$4K	$192K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.043%Rate

Funding earned: −$33.98
Price spread: −0.043% → 0.000%: −$4.29
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$56.27
Costs to cover: 0.180%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

GMX and Orderly: 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	−0.1765%	1h	2.1570	−0.412%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0330%	1h	2.1640	−0.089%	$88	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0304%	1h	2.1653	−0.029%	$408K	$72K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0268%	8h	2.1631	−0.132%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1641	−0.082%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0130%	4h	2.1660	+0.003%	$7.9M	$52.1M	75x	as long as short
Binance TRUMPUSDT	−0.0121%	4h	2.1680	+0.096%	$61.3M	$246.6M	75x	as long as short
Extended TRUMP-USD	−0.0120%	1h	2.1629	−0.141%	$77K	$718K	25x	as long as short
edgeX TRUMPUSDC	−0.0057%	4h	2.1685	+0.118%	$106K	$265K	20x	as long as short
Bybit TRUMPUSDT	−0.0050%	4h	2.1690	+0.142%	$30.8M	$50.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	−0.0041%	4h	2.1651	−0.037%	$669K	$488K	—	as long as short
Lighter TRUMP	−0.0008%	1h	2.1636	−0.108%	$956K	$976K	10x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1666	+0.031%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1654	−0.024%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDCshort	+0.0009%	4h	2.1650	−0.043%	$4K	$192K	10x
GRVT TRUMP_USDT_Perp	+0.0042%	4h	2.1666	+0.033%	$182K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1628	−0.146%	$19K	—	3x	as long as short
OKX TRUMP-USDT-SWAP	+0.0097%	4h	2.1680	+0.096%	$27.6M	$179.6M	50x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1703	+0.202%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1660	+0.003%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1662	+0.013%	$187K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1680	+0.096%	$407K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1650	−0.043%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1690	+0.142%	$15.7M	$26.2M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1660	+0.003%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1670	+0.049%	$495K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0124%	4h	2.1680	+0.096%	$4.2M	$663K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]long	L +0.0171% / S −0.0141%	1h	2.1659	long leg	$10K	—	100x
Kraken Futures PF_TRUMPUSD	+0.0173%	1h	2.1672	+0.057%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0189%	1h	2.1713	+0.248%	$384K	$399K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1650	−0.043%	$280K	$276K	50x	as long as short