TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0172%/8h= +18.9% APRnext payment +$0.22 per $10,000 · paid last 24h −0.026%

Price spread now: Backpack against Coinbase International+0.609%7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs−$8as in the Price arb table

costs, in and out, $10k−$650.645% of the position

Long on Coinbase International Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.148%+$15 on $10k

Price spread, last 3 days (all we have)−0.591%−$59 · spread now +0.609%, 7d avg +0.040%

Together, before fees−0.444%−$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Backpack is 0.569% dearer against Coinbase International than usual: you sell high and buy low: +$57 more if the spread goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.2010	0.0424	pay 0.0053% / 1h	54m 24s	$284K	$401K	50x
Short	Backpack TRUMP_USDC_PERP	2.2144	0.0596	get 0.0075% / 1h	54m 24s	$261K	$275K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Coinbase International. 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 Coinbase InternationalbpFee BackpackbpOrdersPrice spread, now +0.609%Rate

Funding earned: $36.2
Price spread: +0.609% → +0.040%: $56.89
Slippage, 4 orders: −$44.5
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: $28.59
Costs to cover: 0.645%
Break-even: 1.5 days

Slippage from Coinbase International: live order book, 24 min ago; Backpack: live order book, 24 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 Coinbase International live order book, 24 min ago	13.70 bp	27.4 bp −$27	31.1 bp −$311	doesn't fit	doesn't fit
Sell Backpack live order book, 24 min ago	0.23 bp	6.6 bp −$7	doesn't fit	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	2.1920	−0.409%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2092	+0.373%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2117	+0.487%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2116	+0.482%	$415K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2096	+0.391%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2015	+0.024%	$120K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2090	+0.363%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.2090	+0.363%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2094	+0.382%	$993K	$726K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2100	+0.410%	$460K	$834K	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	2.2107	+0.439%	$190K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2094	+0.382%	$63.3M	$221.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2100	+0.409%	$30.9M	$43.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2100	+0.409%	$27.2M	$152.6M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2100	+0.409%	$7.5M	$47.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2080	+0.318%	$485K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2100	+0.409%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2100	+0.409%	$15.7M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2022	+0.055%	$690K	$279K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2027	+0.076%	$193K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2150	+0.636%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2105	+0.432%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2120	+0.500%	$528K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2091	+0.368%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2110	+0.454%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2091	+0.366%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0272%	1h	2.2124	+0.518%	$14.2M	$7.4M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2120	+0.500%	$4.2M	$632K	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0424%	1h	2.2010	long leg	$284K	$401K	50x
Backpack TRUMP_USDC_PERPshort	+0.0596%	1h	2.2144	+0.609%	$261K	$275K	10x
Kraken Futures PF_TRUMPUSD	+0.0864%	1h	2.2129	+0.542%	$1.3M	$2.5M	50x	as long as short