Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0025%/8h= +2.8% APRpaid last 24h +0.056%

Price spread now: Backpack against Aster+0.051%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs+$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$320.316% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.338%+$34 on $10k

Price spread, last 4 days (all we have)−0.167%−$17 · spread now +0.051%, 7d avg +0.070%

Together, before fees+0.171%+ Points / potential airdropAster: Stage 5 · farm board+$17 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.070%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TRUMPUSDT	2.1712	0.0100	pay 0.0050% / 4h	2h 38m	$455K	$834K	20x
Short	Backpack TRUMP_USDC_PERP	2.1723	0.0125	get 0.0016% / 1h	38m 43s	$260K	$262K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.051%Rate

Funding earned: $5.33
Price spread: +0.051% → +0.070%: −$1.83
Slippage, 4 orders: −$13.59
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$28.09
Costs to cover: 0.316%
Break-even: 43.9 days

Slippage from Aster: live order book, 49 min ago; Backpack: live order book, 49 min ago.

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 Aster live order book, 49 min ago	4.58 bp	8.6 bp −$9	19.8 bp −$198	doesn't fit	doesn't fit
Sell Backpack live order book, 49 min ago	0.23 bp	6.7 bp −$7	doesn't fit	doesn't fit	doesn't fit

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	−0.1787%	1h	2.1660	−0.239%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1709	−0.013%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0131%	1h	2.1721	+0.041%	$1.0M	$2.1M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0118%	1h	2.1715	+0.014%	$407K	$79K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1720	+0.037%	$27K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1718	+0.027%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0048%	1h	2.1704	−0.036%	$967K	$657K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1732	+0.093%	$118K	$243K	20x	as long as short
Gate TRUMP_USDT	+0.0064%	4h	2.1700	−0.055%	$7.3M	$46.7M	75x	as long as short
Paradex TRUMP-USD-PERP	+0.0068%	8h	2.1708	−0.018%	$5K	—	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TRUMP_USDC	+0.0084%	4h	2.1710	−0.009%	$477K	$134K	125x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1710	−0.009%	$3K	$249K	10x	as long as short
Aster TRUMPUSDTlong	+0.0100%	4h	2.1712	long leg	$455K	$834K	20x
Pacifica TRUMP	+0.0100%	1h	2.1722	+0.048%	$187K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1729	+0.077%	$61.9M	$215.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1710	−0.009%	$30.2M	$42.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1710	−0.009%	$26.5M	$146.7M	50x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1710	−0.009%	$4.7M	$10.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1720	+0.037%	$15.3M	$20.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1725	+0.061%	$678K	$262K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1730	+0.084%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1730	+0.083%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1706	−0.027%	$71	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1730	+0.083%	$509K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1708	−0.019%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1710	−0.009%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0125%	1h	2.1723	+0.051%	$260K	$262K	10x
Hyperliquid TRUMP	+0.0138%	1h	2.1742	+0.139%	$14.0M	$7.4M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1714	+0.011%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1820	+0.498%	$281K	$397K	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1700	−0.055%	$4.1M	$492K	75x	as long as short