Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0532%/8h= −58.3% APRpaid last 24h −0.056%

Price spread now: MEXC against Backpack−0.144%7-day average −0.153% · you buy dearer than you sell

Net, funding: paid 7d − costs−$79as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.460%−$46 on $10k

Price spread, last 4 days (all we have)−0.015%−$1 · spread now −0.144%, 7d avg −0.153%

Together, before fees−0.475%−$48 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.153%, so right now this pair is about funding alone: −$16 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	2.2152	0.0632	pay 0.0079% / 1h	48m 13s	$261K	$278K	10x
Short	MEXC TRUMP_USDC	2.2120	0.0100	get 0.0050% / 4h	48m 13s	$484K	$132K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$111.82
Price spread: −0.144% → −0.153%: $0.82
Slippage, 4 orders: −$22.7
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$143.7
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Backpack: live order book, 30 min ago; MEXC: live order book, 21 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, 30 min ago	0.23 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 21 min ago	2.28 bp	9.8 bp −$10	34.5 bp −$345	138.0 bp −$13.8K	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	2.2040	−0.506%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2142	−0.045%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2187	+0.159%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2141	−0.050%	$415K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2141	−0.050%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2156	+0.017%	$121K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2140	−0.054%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0096%	8h	2.2162	+0.044%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2135	−0.077%	$992K	$729K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2159	+0.032%	$462K	$835K	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	2.2175	+0.103%	$191K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2140	−0.055%	$63.8M	$223.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2130	−0.099%	$31.1M	$43.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2130	−0.099%	$27.4M	$153.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2140	−0.054%	$7.5M	$47.8M	75x	as long as short
MEXC TRUMP_USDCshort	+0.0100%	4h	2.2120	−0.144%	$484K	$132K	125x
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2150	−0.009%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2140	−0.054%	$15.7M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2172	+0.091%	$624K	$348K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	+0.172%	$194K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2170	+0.081%	$1K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2137	−0.068%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2170	+0.081%	$527K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2131	−0.095%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2134	−0.083%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2141	−0.048%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0338%	1h	2.2166	+0.063%	$14.4M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2170	+0.081%	$4.2M	$634K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2240	+0.397%	$287K	$405K	50x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0632%	1h	2.2152	long leg	$261K	$278K	10x
Kraken Futures PF_TRUMPUSD	+0.0862%	1h	2.2163	+0.050%	$1.3M	$2.5M	50x	as long as short