TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0376%/8h= +41.1% APRnext payment +$0.47 per $10,000 · paid last 24h +0.071%

Price spread now: Backpack against Lighter+0.119%7-day average +0.099% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2as in the Funding arb table

Net, price: spread back to 7d avg − costs−$29as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on Lighter Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.284%+$28 on $10k

Price spread, last 4 days (all we have)−0.127%−$13 · spread now +0.119%, 7d avg +0.099%

Together, before fees+0.157%+ Points / potential airdropLighter: Season 3 · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.099%, so right now this pair is about funding alone: +$11 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRUMP	2.1896	0.0096	pay 0.0012% / 1h	0m 56s	$982K	$741K	10x
Short	Backpack TRUMP_USDC_PERP	2.1922	0.0472	get 0.0059% / 1h	0m 56s	$256K	$283K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Lighter. 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 LighterbpFee BackpackbpOrdersPrice spread, now +0.119%Rate

Funding earned: $78.89
Price spread: +0.119% → +0.099%: $1.93
Slippage, 4 orders: −$20.83
Fee Lighter: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $49.98
Costs to cover: 0.308%
Break-even: 2.6 days

Slippage from Lighter: live order book, 10 min ago; Backpack: live order book, 12 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 Lighter live order book, 10 min ago	1.60 bp	5.8 bp −$6	25.4 bp −$254	doesn't fit	doesn't fit
Sell Backpack live order book, 12 min ago	0.23 bp	8.4 bp −$8	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	2.1760	−0.621%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1872	−0.110%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1877	−0.088%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1901	+0.023%	$411K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1886	−0.045%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1872	−0.110%	$119K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1890	−0.027%	$3K	$249K	10x	as long as short
Lighter TRUMPlong	+0.0096%	1h	2.1896	long leg	$982K	$741K	10x
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1867	−0.131%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1906	+0.045%	$455K	$836K	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	2.1880	−0.073%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	−0.027%	$63.0M	$227.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1880	−0.073%	$30.7M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.073%	$27.2M	$153.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.027%	$7.4M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.073%	$474K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.027%	$4.3M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1900	+0.018%	$15.5M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	−0.155%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1885	−0.051%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	+0.064%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	−0.005%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.110%	$554K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1876	−0.093%	$75K	$467K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.073%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1883	−0.061%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0226%	1h	2.1919	+0.105%	$14.2M	$7.6M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1900	+0.018%	$4.2M	$633K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.749%	$285K	$388K	50x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0472%	1h	2.1922	+0.119%	$256K	$283K	10x
Kraken Futures PF_TRUMPUSD	+0.0872%	1h	2.1922	+0.119%	$1.3M	$2.5M	50x	as long as short