Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0154%/8h= −16.8% APRpaid last 24h −0.073%

Price spread now: edgeX against Backpack−0.349%7-day average −0.108% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$480.476% of the position

Long on Backpack Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.389%−$39 on $10k

Price spread, last 3 days (all we have)+0.565%+$57 · spread now −0.349%, 7d avg −0.108%

Together, before fees+0.176%+ Points / potential airdropedgeX: Active · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and edgeX is 0.241% cheaper against Backpack than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.108%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1852	0.0188	pay 0.0023% / 1h	31m 06s	$258K	$263K	10x
Short	edgeX TRUMPUSDC	2.1776	0.0034	get 0.0017% / 4h	3h 31m	$118K	$244K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.349%Rate

Funding earned: −$32.28
Price spread: −0.349% → −0.108%: −$24.11
Slippage, 4 orders: −$28.61
Fee Backpack: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$104
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from Backpack: live order book, 17 min ago; edgeX: live order book, 16 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, 17 min ago	0.23 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 16 min ago	6.96 bp	14.1 bp −$14	39.3 bp −$393	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	−0.1885%	1h	2.1710	−0.650%	$13K	$77K	12x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0348%	1h	2.1838	−0.066%	$1.0M	$2.1M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1815	−0.170%	$5	—	10x	as long as short
Lighter TRUMP	−0.0080%	1h	2.1817	−0.160%	$971K	$619K	10x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1819	−0.149%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1836	−0.073%	$409K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1834	−0.083%	$41K	—	150x	as long as short
edgeX TRUMPUSDCshort	+0.0034%	4h	2.1776	−0.349%	$118K	$244K	20x
Paradex TRUMP-USD-PERP	+0.0050%	8h	2.1806	−0.209%	$5K	—	5x	as long as short
MEXC TRUMP_USDC	+0.0064%	4h	2.1810	−0.192%	$479K	$134K	125x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TRUMPUSDT	+0.0069%	4h	2.1830	−0.101%	$63.0M	$211.6M	75x	as long as short
Extended TRUMP-USD	+0.0072%	1h	2.1818	−0.156%	$75K	$471K	25x	as long as short
SoDEX TRUMP-USD	+0.0078%	1h	2.1821	−0.142%	$72	$6K	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1820	−0.146%	$3K	$249K	10x	as long as short
Variational Omni TRUMP	+0.0089%	4h	2.1795	−0.259%	$677K	$231K	—	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1815	−0.169%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1855	+0.014%	$14.0M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1829	−0.105%	$446K	$842K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1819	−0.153%	$188K	$60K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1810	−0.192%	$30.4M	$41.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1820	−0.146%	$26.9M	$146.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1830	−0.101%	$7.4M	$45.6M	75x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1830	−0.101%	$4.8M	$9.9M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1820	−0.146%	$15.3M	$20.2M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1820	−0.146%	$188K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1830	−0.101%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1840	−0.055%	$504K	$1.6M	50x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0188%	1h	2.1852	long leg	$258K	$263K	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1831	−0.097%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0277%	4h	2.1830	−0.101%	$4.2M	$461K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1550	−1.382%	$277K	$398K	50x	as long as short