Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0315%/8h= −34.5% APRpaid last 24h −0.062%

Price spread now: Binance against Backpack−0.082%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$330.327% of the position

Long on Backpack Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.410%−$41 on $10k

Price spread, last 4 days (all we have)+0.149%+$15 · spread now −0.082%, 7d avg −0.094%

Together, before fees−0.261%−$26 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.094%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1690	0.0210	pay 0.0026% / 1h	21m 08s	$340K	$378K	10x
Short	Binance TRUMPUSDT	2.1672	−0.0105	pay 0.0053% / 4h	3h 21m	$61.3M	$245.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Backpack. 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 BackpackbpFee BinancebpOrdersPrice spread, now −0.082%Rate

Funding earned: −$66.22
Price spread: −0.082% → −0.094%: $1.18
Slippage, 4 orders: −$12.72
Fee Backpack: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$97.76
Costs to cover: 0.327%
Break-even: never at this rate

Slippage from Backpack: live order book, 32 min ago; Binance: live order book, 7 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 Backpack live order book, 32 min ago	0.23 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 7 min ago	2.30 bp	7.3 bp −$7	15.0 bp −$150	42.4 bp −$4,235	212.2 bp −$106.1K

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	−0.1765%	1h	2.1550	−0.645%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0322%	1h	2.1687	−0.014%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0300%	8h	2.1690	−0.002%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	+0.006%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0196%	4h	2.1660	−0.138%	$7.8M	$51.9M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0165%	1h	2.1697	+0.032%	$408K	$72K	10x	as long as short
Binance TRUMPUSDTshort	−0.0105%	4h	2.1672	−0.082%	$61.3M	$245.9M	75x
Extended TRUMP-USD	−0.0104%	1h	2.1679	−0.051%	$74K	$714K	25x	as long as short
edgeX TRUMPUSDC	−0.0046%	4h	2.1660	−0.140%	$106K	$264K	20x	as long as short
Variational Omni TRUMP	−0.0020%	4h	2.1681	−0.042%	$670K	$516K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0010%	4h	2.1660	−0.138%	$30.7M	$50.3M	50x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1706	+0.074%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1710	+0.092%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0015%	4h	2.1690	0.000%	$4K	$194K	10x	as long as short
Lighter TRUMP	+0.0032%	1h	2.1667	−0.106%	$957K	$975K	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1685	−0.023%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0058%	4h	2.1690	0.000%	$177K	$4.6M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1670	−0.092%	$13.7M	$8.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1686	−0.020%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1697	+0.030%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1650	−0.184%	$27.7M	$179.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1670	−0.092%	$406K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1700	+0.046%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1670	−0.092%	$15.7M	$26.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1710	+0.092%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1700	+0.046%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0135%	4h	2.1670	−0.092%	$4.2M	$664K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1709	+0.089%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1724	+0.155%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0210%	1h	2.1690	long leg	$340K	$378K	10x
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1720	+0.138%	$281K	$277K	50x	as long as short