TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0036%/8h= +3.9% APRnext payment +$0.04 per $10,000 · paid last 24h +0.056%

Price spread now: Backpack against Kraken Futures+0.044%7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$6as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Kraken Futures Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.449%+$45 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now +0.044%, 7d avg +0.025%

Together, before fees+0.370%+$37 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.025%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRUMPUSD	2.1491	0.0198	pay 0.0025% / 1h	13m 41s	$1.3M	$2.3M	50x
Short	Backpack TRUMP_USDC_PERP	2.1501	0.0233	get 0.0029% / 1h	13m 41s	$382K	$411K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Kraken Futures. 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 Kraken FuturesbpFee BackpackbpOrdersPrice spread, now +0.044%Rate

Funding earned: $7.51
Price spread: +0.044% → +0.025%: $1.95
Slippage, 4 orders: −$30.92
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$41.46
Costs to cover: 0.509%
Break-even: 45.7 days

Slippage from Kraken Futures: live order book, 5 min ago; Backpack: live order book, 35 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 Kraken Futures live order book, 5 min ago	4.66 bp	13.9 bp −$14	23.0 bp −$230	doesn't fit	doesn't fit
Sell Backpack live order book, 35 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	2.1300	−0.891%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0400%	1h	2.1467	−0.114%	$948K	$1.0M	10x	as long as short
SoDEX TRUMP-USD	−0.0351%	1h	2.1465	−0.123%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0310%	4h	2.1480	−0.053%	$30.4M	$51.9M	50x	as long as short
Binance TRUMPUSDT	−0.0280%	4h	2.1480	−0.053%	$60.6M	$250.9M	75x	as long as short
Extended TRUMP-USD	−0.0280%	1h	2.1479	−0.057%	$74K	$744K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1452	−0.185%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0221%	4h	2.1411	−0.372%	$661K	$426K	—	as long as short
Paradex TRUMP-USD-PERP	−0.0199%	8h	2.1472	−0.089%	$5K	$175	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0169%	1h	2.1470	−0.100%	$404K	$72K	10x	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	−0.0140%	4h	2.1470	−0.100%	$7.7M	$53.7M	75x	as long as short
edgeX TRUMPUSDC	−0.0139%	4h	2.1420	−0.334%	$104K	$265K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0080%	4h	2.1470	−0.100%	$27.0M	$182.7M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0057%	4h	2.1460	−0.146%	$5K	$225K	10x	as long as short
BloFin TRUMP-USDT	−0.0040%	4h	2.1430	−0.286%	$4.1M	$690K	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1476	−0.073%	$27K	$506	5x	as long as short
GRVT TRUMP_USDT_Perp	−0.0010%	4h	2.1432	−0.277%	$173K	$4.7M	10x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1444	−0.220%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1476	−0.072%	$40K	—	150x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1490	−0.007%	$13.5M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1485	−0.030%	$404K	$772K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1478	−0.061%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1470	−0.100%	$400K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1490	−0.007%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1480	−0.053%	$15.4M	$26.8M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	−0.053%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	+0.040%	$481K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1472	−0.089%	$9K	—	100x	as long as short
Kraken Futures PF_TRUMPUSDlong	+0.0198%	1h	2.1491	long leg	$1.3M	$2.3M	50x
Backpack TRUMP_USDC_PERPshort	+0.0233%	1h	2.1501	+0.044%	$382K	$411K	10x
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1480	−0.053%	$237K	$357K	50x	as long as short