Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0156%/8h= −17.1% APRpaid last 24h −0.054%

Price spread now: Aster against Backpack−0.095%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$42as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on Backpack Short on Aster

What this pair did over the last

the charts below follow

Funding, last 7 days−0.339%−$34 on $10k

Price spread, last 4 days (all we have)+0.178%+$18 · spread now −0.095%, 7d avg −0.074%

Together, before fees−0.161%+ Points / potential airdropAster: Stage 5 · farm board−$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Aster is 0.020% cheaper against Backpack than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1873	0.0256	pay 0.0032% / 1h	50m 14s	$259K	$268K	10x
Short	Aster TRUMPUSDT	2.1852	0.0100	get 0.0050% / 4h	1h 50m	$455K	$831K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Backpack. 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 BackpackbpFee AsterbpOrdersPrice spread, now −0.095%Rate

Funding earned: −$32.75
Price spread: −0.095% → −0.074%: −$2.01
Slippage, 4 orders: −$21.94
Fee Backpack: 5 bp × 2 orders: −$10
Fee Aster: 4 bp × 2 orders: −$8
Net: −$74.71
Costs to cover: 0.399%
Break-even: never at this rate

Slippage from Backpack: live order book, 33 min ago; Aster: live order book, 32 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 Backpack live order book, 33 min ago	0.23 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 32 min ago	2.28 bp	8.0 bp −$8	21.6 bp −$216	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	−0.1472%	1h	2.1770	−0.471%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1844	−0.135%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1888	+0.070%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1843	−0.137%	$410K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1846	−0.121%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1895	+0.103%	$119K	$247K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1840	−0.151%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0087%	8h	2.1868	−0.023%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1845	−0.128%	$973K	$670K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1874	+0.005%	$14.1M	$7.4M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDTshort	+0.0100%	4h	2.1852	−0.095%	$455K	$831K	20x
Pacifica TRUMP	+0.0100%	1h	2.1882	+0.041%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1854	−0.085%	$62.3M	$217.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1840	−0.151%	$30.5M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1860	−0.059%	$26.7M	$148.6M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1860	−0.059%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1840	−0.151%	$480K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1860	−0.059%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1850	−0.105%	$15.5M	$20.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1863	−0.045%	$683K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1940	+0.306%	$183K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1870	−0.014%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1845	−0.128%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1900	+0.123%	$516K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1842	−0.144%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1840	−0.152%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1849	−0.111%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0256%	1h	2.1873	long leg	$259K	$268K	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.105%	$4.2M	$519K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	−0.059%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0523%	1h	2.1882	+0.043%	$1.3M	$2.4M	50x	as long as short