Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0172%/8h= −18.9% APRpaid last 24h −0.056%

Price spread now: KuCoin against Backpack−0.086%7-day average −0.081% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

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

costs, in and out, $10k−$540.542% of the position

Long on Backpack Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.331%−$33 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.086%, 7d avg −0.081%

Together, before fees−0.311%−$31 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.081%, so right now this pair is about funding alone: −$5 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	2.1979	0.0272	pay 0.0034% / 1h	2m 38s	$257K	$316K	10x
Short	KuCoin TRUMPUSDTM	2.1960	0.0100	get 0.0050% / 4h	2h 02m	$4.3M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$36.22
Price spread: −0.086% → −0.081%: −$0.5
Slippage, 4 orders: −$32.16
Fee Backpack: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$90.88
Costs to cover: 0.542%
Break-even: never at this rate

Slippage from Backpack: live order book, 1 min ago; KuCoin: live order book, 6 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, 1 min ago	0.23 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.28 bp	20.6 bp −$21	84.4 bp −$844	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	−0.450%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1991	+0.057%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0068%	4h	2.1940	−0.177%	$7.7M	$49.9M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1960	−0.086%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1994	+0.068%	$414K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2005	+0.117%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1884	−0.434%	$106K	$263K	20x	as long as short
Lighter TRUMP	+0.0064%	1h	2.1928	−0.232%	$976K	$800K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0069%	8h	2.1937	−0.190%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0074%	1h	2.1992	+0.059%	$82	$6K	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1990	+0.050%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1952	−0.123%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1955	−0.109%	$434K	$862K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1948	−0.139%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1931	−0.218%	$63.7M	$235.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1930	−0.223%	$31.5M	$48.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1940	−0.177%	$28.5M	$169.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1930	−0.223%	$436K	$148K	125x	as long as short
KuCoin TRUMPUSDTMshort	+0.0100%	4h	2.1960	−0.086%	$4.3M	$11.0M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1950	−0.132%	$15.7M	$24.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1911	−0.309%	$690K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1923	−0.254%	$180K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2020	+0.187%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2040	+0.278%	$549K	$2.1M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1935	−0.202%	$77K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1975	−0.018%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1995	+0.073%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0272%	1h	2.1979	long leg	$257K	$316K	10x
Kraken Futures PF_TRUMPUSD	+0.0513%	1h	2.2008	+0.133%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.1880	−0.450%	$284K	$302K	50x	as long as short