TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0437%/8h= −47.9% APRnext payment −$0.55 per $10,000 · paid last 24h −0.054%

Price spread now: Kraken Futures against Backpack−0.028%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$550.547% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.442%−$44 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.028%, 7d avg −0.025%

Together, before fees−0.381%−$38 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.025%, so right now this pair is about funding alone: −$13 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1390	0.0338	pay 0.0042% / 1h	31m 27s	$379K	$415K	10x
Short	Kraken Futures PF_TRUMPUSD	2.1384	−0.0099	pay 0.0012% / 1h	31m 27s	$1.3M	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.028%Rate

Funding earned: −$91.77
Price spread: −0.028% → −0.025%: −$0.3
Slippage, 4 orders: −$34.65
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$146.72
Costs to cover: 0.547%
Break-even: never at this rate

Slippage from Backpack: live order book, 12 min ago; Kraken Futures: live order book, 2 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, 12 min ago	0.23 bp	8.1 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	2.34 bp	18.1 bp −$18	30.7 bp −$307	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	−0.1927%	1h	2.1290	−0.468%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1382	−0.039%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1390	−0.001%	$74K	$649K	25x	as long as short
Binance TRUMPUSDT	−0.0204%	4h	2.1397	+0.033%	$60.4M	$251.8M	75x	as long as short
Variational Omni TRUMP	−0.0157%	4h	2.1351	−0.181%	$659K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0106%	4h	2.1350	−0.185%	$104K	$265K	20x	as long as short
Kraken Futures PF_TRUMPUSDshort	−0.0099%	1h	2.1384	−0.028%	$1.3M	$2.3M	50x
OKX TRUMP-USDT-SWAP	−0.0099%	4h	2.1390	0.000%	$26.4M	$184.4M	50x	as long as short
Gate TRUMP_USDT	−0.0092%	4h	2.1390	0.000%	$7.7M	$53.6M	75x	as long as short
Bybit TRUMPUSDT	−0.0083%	4h	2.1390	0.000%	$30.4M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1370	−0.094%	$5K	$246K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0061%	8h	2.1368	−0.104%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	−0.0020%	1h	2.1357	−0.154%	$80	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1386	−0.018%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1362	−0.131%	$402K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1365	−0.117%	$40K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0028%	4h	2.1370	−0.094%	$4.1M	$685K	75x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1350	−0.187%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0088%	1h	2.1370	−0.094%	$944K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1402	+0.056%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1401	+0.053%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1384	−0.028%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1390	0.000%	$398K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1390	0.000%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1400	+0.047%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1388	−0.009%	$175K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1390	0.000%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1390	0.000%	$481K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1370	−0.095%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1360	−0.140%	$202K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0338%	1h	2.1390	long leg	$379K	$415K	10x