TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0376%/8h= −41.1% APRnext payment −$0.47 per $10,000 · paid last 24h −0.071%

Price spread now: Lighter against Backpack−0.137%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Backpack Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 4 days (all we have)+0.145%+$15 · spread now −0.137%, 7d avg −0.099%

Together, before fees−0.139%+ Points / potential airdropLighter: Season 3 · farm board−$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Lighter is 0.037% cheaper against Backpack than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.099%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1922	0.0472	pay 0.0059% / 1h	0m 51s	$256K	$283K	10x
Short	Lighter TRUMP	2.1892	0.0096	get 0.0012% / 1h	0m 51s	$981K	$741K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.137%Rate

Funding earned: −$78.89
Price spread: −0.137% → −0.099%: −$3.74
Slippage, 4 orders: −$20.83
Fee Backpack: 5 bp × 2 orders: −$10
Fee Lighter: 0 bp × 2 orders: $0
Net: −$113.46
Costs to cover: 0.308%
Break-even: never at this rate

Slippage from Backpack: live order book, 12 min ago; Lighter: live order book, 10 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	6.3 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 10 min ago	1.60 bp	10.4 bp −$10	33.6 bp −$336	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	−0.1537%	1h	2.1760	−0.739%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1872	−0.228%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1877	−0.207%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1901	−0.096%	$411K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1886	−0.163%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1872	−0.228%	$119K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1890	−0.146%	$3K	$249K	10x	as long as short
Lighter TRUMPshort	+0.0096%	1h	2.1892	−0.137%	$981K	$741K	10x
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1867	−0.249%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1897	−0.115%	$455K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1880	−0.191%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	−0.146%	$63.0M	$226.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1890	−0.146%	$30.7M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1890	−0.146%	$27.2M	$153.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.146%	$7.4M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.192%	$474K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.146%	$4.3M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1900	−0.100%	$15.5M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	−0.273%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1885	−0.170%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	−0.055%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.123%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	−0.009%	$554K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1876	−0.211%	$75K	$467K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.192%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1883	−0.179%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0225%	1h	2.1915	−0.032%	$14.2M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1900	−0.100%	$4.2M	$633K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.630%	$285K	$388K	50x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0472%	1h	2.1922	long leg	$256K	$283K	10x
Kraken Futures PF_TRUMPUSD	+0.0872%	1h	2.1922	0.000%	$1.3M	$2.5M	50x	as long as short