Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0088%/8h= +9.6% APRpaid last 24h +0.025%

Price spread now: GMX against OKX−0.087%7-day average — · you buy dearer than you sell

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

Long on OKX Short on GMX

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

Funding pays, the price is against you. GMX is 0.087% cheaper against OKX than usual: you would sell low and buy high (spread −0.087% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 3.3 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.2250	0.0100	pay 0.0050% / 4h	3h 21m	$27.7M	$156.2M	50x
Short	GMX TRUMP/USD [ETH-USDC]	2.2231	L +0.0217% / S −0.0188%	get 0.0023% / 1h	21m 59s	$10K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.087%Rate

Funding earned: $18.46
Price spread: −0.087% → 0.000%: −$8.69
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: −$12.22
Costs to cover: 0.220%
Break-even: 11.6 days

Slippage unknown: OKX: live order book, 2 min ago; GMX: 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 OKX live order book, 2 min ago	2.25 bp	7.3 bp −$7	11.7 bp −$117	50.4 bp −$5,043	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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	2.1910	−1.528%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2212	−0.173%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2255	+0.022%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2259	+0.040%	$417K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2229	−0.095%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2107	−0.642%	$120K	$249K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2244	−0.027%	$988K	$777K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2250	0.000%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2223	−0.122%	$5K	$175	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2255	+0.023%	$463K	$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	2.2252	+0.009%	$192K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2250	0.000%	$63.6M	$222.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2240	−0.045%	$31.2M	$44.7M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.2250	long leg	$27.7M	$156.2M	50x
Gate TRUMP_USDT	+0.0100%	4h	2.2240	−0.045%	$7.7M	$47.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2240	−0.045%	$482K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2250	0.000%	$4.5M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2260	+0.045%	$16.3M	$22.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2101	−0.668%	$707K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2167	−0.375%	$182K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2270	+0.090%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2255	+0.022%	$77	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2290	+0.180%	$563K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2250	0.000%	$79K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2227	−0.103%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0161%	1h	2.2282	+0.144%	$14.5M	$6.5M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]short	L +0.0217% / S −0.0188%	1h	2.2231	−0.087%	$10K	—	100x
BloFin TRUMP-USDT	+0.0340%	4h	2.2240	−0.045%	$4.2M	$643K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0477%	1h	2.2277	+0.121%	$283K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2280	+0.135%	$290K	$277K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0773%	1h	2.2280	+0.135%	$1.3M	$2.5M	50x	as long as short