Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0549%/8h= +60.1% APRpaid last 24h +0.057%

Price spread now: Backpack against Paradex+0.224%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Backpack is 0.224% dearer against Paradex than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TRUMP-USD-PERP	2.2143	0.0096	pay 0.0096% / 8h	49m 04s	$5K	—	5x
Short	Backpack TRUMP_USDC_PERP	2.2193	0.0644	get 0.0081% / 1h	49m 04s	$262K	$279K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.224%Rate

Funding earned: $115.22
Price spread: +0.224% → 0.000%: $22.44
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $123.66
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 29 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 29 min ago	0.23 bp	6.6 bp −$7	doesn't fit	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.2040	−0.467%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2162	+0.085%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2137	−0.029%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2160	+0.075%	$416K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2174	+0.137%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2156	+0.056%	$121K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2160	+0.075%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERPlong	+0.0096%	8h	2.2143	long leg	$5K	—	5x
Lighter TRUMP	+0.0096%	1h	2.2160	+0.075%	$994K	$728K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2178	+0.158%	$462K	$835K	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	2.2140	−0.015%	$190K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2178	+0.159%	$63.9M	$222.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2190	+0.211%	$31.2M	$43.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2200	+0.256%	$27.4M	$153.6M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2160	+0.075%	$7.5M	$47.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2150	+0.030%	$485K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2170	+0.121%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2170	+0.121%	$15.8M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2172	+0.131%	$624K	$348K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	+0.211%	$194K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2190	+0.211%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2160	+0.075%	$75	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2170	+0.121%	$527K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2156	+0.057%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2160	+0.075%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2164	+0.094%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0337%	1h	2.2192	+0.220%	$14.4M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2170	+0.121%	$4.2M	$634K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2180	+0.166%	$286K	$404K	50x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0644%	1h	2.2193	+0.224%	$262K	$279K	10x
Kraken Futures PF_TRUMPUSD	+0.0861%	1h	2.2187	+0.197%	$1.3M	$2.5M	50x	as long as short