Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0251%/8h= −27.5% APRpaid last 24h −0.072%

Price spread now: edgeX against Backpack−0.223%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$480.477% of the position

Long on Backpack Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.402%−$40 on $10k

Price spread, last 4 days (all we have)+0.710%+$71 · spread now −0.223%, 7d avg −0.105%

Together, before fees+0.308%+ Points / potential airdropedgeX: Active · farm board+$31 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and edgeX is 0.118% cheaper against Backpack than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.105%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.2051	0.0301	pay 0.0038% / 1h	26m 27s	$258K	$320K	10x
Short	edgeX TRUMPUSDC	2.2002	0.0050	get 0.0025% / 4h	2h 26m	$107K	$262K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.223%Rate

Funding earned: −$52.67
Price spread: −0.223% → −0.105%: −$11.79
Slippage, 4 orders: −$28.68
Fee Backpack: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$112.14
Costs to cover: 0.477%
Break-even: never at this rate

Slippage from Backpack: live order book, 42 min ago; edgeX: live order book, 41 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, 42 min ago	0.22 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 41 min ago	8.92 bp	16.8 bp −$17	43.1 bp −$431	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1880	−0.775%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2087	+0.161%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0050%	4h	2.2080	+0.132%	$7.8M	$49.1M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.024%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2025	−0.118%	$415K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2104	+0.241%	$43K	—	150x	as long as short
edgeX TRUMPUSDCshort	+0.0050%	4h	2.2002	−0.223%	$107K	$262K	20x
Paradex TRUMP-USD-PERP	+0.0073%	8h	2.2078	+0.123%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.2100	+0.222%	$4K	$240K	10x	as long as short
SoDEX TRUMP-USD	+0.0091%	1h	2.2007	−0.200%	$78	$6K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.2055	+0.018%	$981K	$790K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2109	+0.263%	$14.4M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2087	+0.165%	$437K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2059	+0.036%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2101	+0.226%	$64.2M	$235.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2090	+0.177%	$31.7M	$48.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2100	+0.222%	$29.1M	$171.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2090	+0.177%	$439K	$146K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2090	+0.177%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2110	+0.268%	$15.8M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2081	+0.138%	$696K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2006	−0.202%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2050	−0.005%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2070	+0.086%	$552K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2074	+0.105%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2090	+0.177%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2102	+0.232%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0301%	1h	2.2051	long leg	$258K	$320K	10x
Kraken Futures PF_TRUMPUSD	+0.0512%	1h	2.2032	−0.087%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2190	+0.630%	$288K	$307K	50x	as long as short