Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0187%/8h= +20.4% APRpaid last 24h +0.004%

Price spread now: Bybit against Paradex−0.148%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Bybit

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—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Funding pays, the price is against you. Bybit is 0.148% cheaper against Paradex than usual: you would sell low and buy high (spread −0.148% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 2.6 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TRUMP-USD-PERP	2.1702	−0.0276	get 0.0276% / 8h	3h 17m	$5K	$175	5x
Short	Bybit TRUMPUSDT	2.1670	−0.0089	pay 0.0045% / 4h	3h 17m	$30.7M	$50.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Paradex. 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 ParadexbpFee BybitbpOrdersPrice spread, now −0.148%Rate

Funding earned: $39.2
Price spread: −0.148% → 0.000%: −$14.82
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $9.38
Costs to cover: 0.150%
Break-even: 5.3 days

Slippage unknown: Paradex: no order-book sample; Bybit: live order book, 2 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 Paradex no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	2.31 bp	7.8 bp −$8	17.0 bp −$170	105.3 bp −$10.5K	doesn't fit

Paradex: 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	2.1550	−0.701%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0310%	1h	2.1695	−0.033%	$88	$6K	5x	as long as short
Paradex TRUMP-USD-PERPlong	−0.0276%	8h	2.1702	long leg	$5K	$175	5x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1684	−0.084%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0211%	1h	2.1704	+0.008%	$408K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0150%	4h	2.1690	−0.056%	$7.9M	$52.0M	75x	as long as short
Binance TRUMPUSDT	−0.0115%	4h	2.1670	−0.148%	$61.2M	$245.9M	75x	as long as short
Extended TRUMP-USD	−0.0112%	1h	2.1689	−0.061%	$74K	$714K	25x	as long as short
Bybit TRUMPUSDTshort	−0.0089%	4h	2.1670	−0.148%	$30.7M	$50.3M	50x
edgeX TRUMPUSDC	−0.0049%	4h	2.1667	−0.161%	$106K	$264K	20x	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	−0.0023%	4h	2.1681	−0.097%	$670K	$516K	—	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1710	+0.036%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1714	+0.056%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0011%	4h	2.1690	−0.056%	$4K	$189K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0022%	4h	2.1660	−0.194%	$177K	$4.6M	10x	as long as short
Lighter TRUMP	+0.0024%	1h	2.1692	−0.047%	$958K	$975K	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1690	−0.056%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1686	−0.074%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1695	−0.035%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1720	+0.084%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1670	−0.148%	$27.7M	$179.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1690	−0.056%	$407K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1700	−0.010%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1700	−0.010%	$15.7M	$26.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1700	−0.010%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1730	+0.128%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0125%	4h	2.1710	+0.036%	$4.2M	$664K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1710	+0.035%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1733	+0.141%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0200%	1h	2.1704	+0.008%	$341K	$378K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1670	−0.148%	$280K	$277K	50x	as long as short