Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0212%/8h= +23.2% APRpaid last 24h +0.058%

Price spread now: Backpack against MEXC−0.009%7-day average +0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs+$14as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.470%+$47 on $10k

Price spread, last 4 days (all we have)+0.154%+$15 · spread now −0.009%, 7d avg +0.143%

Together, before fees+0.624%+$62 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.153% cheaper against MEXC than usual: you would sell low and buy high (spread −0.009% now, against its 7-day average of +0.143%). If the spread goes back, that is −$15 on $10k: about 2.4 days of funding at the current rate (+$6 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC TRUMP_USDC	2.1360	0.0100	pay 0.0050% / 4h	1h 33m	$397K	$149K	125x
Short	Backpack TRUMP_USDC_PERP	2.1358	0.0312	get 0.0039% / 1h	33m 32s	$378K	$415K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now −0.009%Rate

Funding earned: $44.43
Price spread: −0.009% → +0.143%: −$15.27
Slippage, 4 orders: −$22.76
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$3.6
Costs to cover: 0.328%
Break-even: 7.6 days

Slippage from MEXC: live order book, 1 min ago; Backpack: live order book, 10 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 MEXC live order book, 1 min ago	4.69 bp	9.4 bp −$9	23.5 bp −$235	116.7 bp −$11.7K	doesn't fit
Sell Backpack live order book, 10 min ago	0.23 bp	9.5 bp −$9	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	−0.1927%	1h	2.1290	−0.328%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1362	+0.008%	$5	—	10x	as long as short
Binance TRUMPUSDT	−0.0212%	4h	2.1379	+0.089%	$60.4M	$251.8M	75x	as long as short
Extended TRUMP-USD	−0.0208%	1h	2.1350	−0.047%	$74K	$673K	25x	as long as short
Variational Omni TRUMP	−0.0157%	4h	2.1351	−0.041%	$659K	$424K	—	as long as short
edgeX TRUMPUSDC	−0.0110%	4h	2.1406	+0.217%	$104K	$264K	20x	as long as short
OKX TRUMP-USDT-SWAP	−0.0104%	4h	2.1360	0.000%	$26.3M	$184.2M	50x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1350	−0.047%	$7.6M	$53.6M	75x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0099%	1h	2.1353	−0.034%	$1.3M	$2.3M	50x	as long as short
Bybit TRUMPUSDT	−0.0083%	4h	2.1370	+0.047%	$30.4M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0064%	8h	2.1347	−0.063%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0061%	4h	2.1320	−0.187%	$5K	$244K	10x	as long as short
SoDEX TRUMP-USD	−0.0059%	1h	2.1325	−0.164%	$80	$6K	5x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1336	−0.112%	$27K	$501	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1325	−0.164%	$402K	$81K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1325	−0.162%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1310	−0.234%	$18K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0025%	4h	2.1370	+0.047%	$4.1M	$684K	75x	as long as short
Lighter TRUMP	+0.0088%	1h	2.1345	−0.070%	$943K	$1.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1372	+0.056%	$13.5M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1384	+0.112%	$401K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1345	−0.071%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDClong	+0.0100%	4h	2.1360	long leg	$397K	$149K	125x
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1360	0.000%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1370	+0.047%	$15.2M	$27.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1385	+0.118%	$177K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1350	−0.047%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1330	−0.140%	$480K	$2.5M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1373	+0.062%	$9K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0192%	1h	2.1340	−0.094%	$203K	$421K	50x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0312%	1h	2.1358	−0.009%	$378K	$415K	10x