Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0371%/8h= −40.7% APRpaid last 24h −0.059%

Price spread now: Paradex against Backpack−0.259%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Backpack Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Paradex is 0.259% cheaper against Backpack than usual: you would sell low and buy high (−$26 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.2478	0.0460	pay 0.0058% / 1h	6m 38s	$265K	$302K	10x
Short	Paradex TRUMP-USD-PERP	2.2420	0.0089	get 0.0089% / 8h	7h 06m	$5K	$175	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.259%Rate

Funding earned: −$77.99
Price spread: −0.259% → 0.000%: −$25.87
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$117.86
Costs to cover: 0.140%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 2 min ago; Paradex: no order-book sample. Net counts fees only.

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, 2 min ago	0.22 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.1608%	1h	2.2320	−0.703%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2431	−0.207%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2456	−0.100%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2446	−0.142%	$421K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2440	−0.169%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2462	−0.071%	$109K	$262K	20x	as long as short
Paradex TRUMP-USD-PERPshort	+0.0089%	8h	2.2420	−0.259%	$5K	$175	5x
Orderly PERP_TRUMP_USDC	+0.0094%	4h	2.2440	−0.169%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2441	−0.165%	$995K	$782K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2471	−0.033%	$469K	$837K	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	2.2452	−0.114%	$195K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2383	−0.424%	$64.8M	$227.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2370	−0.480%	$31.7M	$45.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2360	−0.525%	$28.5M	$162.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2430	−0.214%	$8.0M	$48.9M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2430	−0.214%	$484K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2470	−0.036%	$4.4M	$10.7M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2430	−0.214%	$16.3M	$22.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2451	−0.119%	$714K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2470	−0.036%	$190K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2460	−0.080%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2437	−0.182%	$81	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2470	−0.036%	$583K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2409	−0.305%	$80K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2424	−0.239%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0114%	1h	2.2472	−0.027%	$14.6M	$6.6M	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2442	−0.158%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2450	−0.125%	$4.4M	$675K	75x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0460%	1h	2.2478	long leg	$265K	$302K	10x
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2430	−0.214%	$292K	$252K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0767%	1h	2.2457	−0.095%	$1.3M	$2.6M	50x	as long as short