TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0474%/8h= +51.9% APRnext payment +$0.59 per $10,000 · paid last 24h +0.058%

Price spread now: Backpack against Extended+0.249%7-day average +0.135% · you sell dearer than you buy

Net, funding: paid 7d − costs+$10as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$320.317% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.413%+$41 on $10k

Price spread, last 4 days (all we have)−0.196%−$20 · spread now +0.249%, 7d avg +0.135%

Together, before fees+0.218%+ Points / potential airdropExtended: Active · farm board+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$14 a day on $10k at the current rate, and Backpack is 0.113% dearer against Extended than usual: you sell high and buy low: +$11 more if the spread goes back to its 7-day average of +0.135%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TRUMP-USD	2.1379	−0.0272	get 0.0034% / 1h	19m 49s	$77K	$745K	25x
Short	Backpack TRUMP_USDC_PERP	2.1432	0.0202	get 0.0025% / 1h	19m 49s	$381K	$411K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now +0.249%Rate

Funding earned: $99.58
Price spread: +0.249% → +0.135%: $11.35
Slippage, 4 orders: −$16.72
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: $79.21
Costs to cover: 0.317%
Break-even: 1.4 days

Slippage from Extended: live order book, 28 min ago; Backpack: live order book, 29 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 Extended live order book, 28 min ago	4.66 bp	7.7 bp −$8	29.5 bp −$295	doesn't fit	doesn't fit
Sell Backpack live order book, 29 min ago	0.23 bp	6.0 bp −$6	14.2 bp −$142	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	−0.1827%	1h	2.1150	−1.070%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0464%	1h	2.1385	+0.029%	$946K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0379%	1h	2.1390	+0.052%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0362%	4h	2.1390	+0.052%	$30.1M	$51.7M	50x	as long as short
Binance TRUMPUSDT	−0.0274%	4h	2.1390	+0.052%	$60.3M	$250.1M	75x	as long as short
Extended TRUMP-USDlong	−0.0272%	1h	2.1379	long leg	$77K	$745K	25x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1382	+0.013%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0217%	1h	2.1403	+0.113%	$403K	$72K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0217%	8h	2.1391	+0.057%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0201%	4h	2.1331	−0.222%	$659K	$426K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0178%	4h	2.1390	+0.052%	$7.6M	$53.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0137%	4h	2.1258	−0.566%	$104K	$264K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0082%	4h	2.1390	+0.052%	$26.8M	$181.4M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0050%	4h	2.1390	+0.052%	$5K	$220K	10x	as long as short
BloFin TRUMP-USDT	−0.0034%	4h	2.1340	−0.181%	$4.1M	$688K	75x	as long as short
GRVT TRUMP_USDT_Perp	−0.0026%	4h	2.1290	−0.417%	$173K	$4.7M	10x	as long as short
dYdX TRUMP-USD	−0.0017%	1h	2.1390	+0.052%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1410	+0.146%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1379	+0.002%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1410	+0.146%	$13.4M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1400	+0.098%	$402K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1386	+0.032%	$184K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1400	+0.099%	$398K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1400	+0.099%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1400	+0.099%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1410	+0.146%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	+0.146%	$480K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1411	+0.149%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0198%	1h	2.1418	+0.184%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0202%	1h	2.1432	+0.249%	$381K	$411K	10x
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1350	−0.135%	$243K	$343K	50x	as long as short