Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.016%

Price spread now: Pacifica against edgeX−0.372%52s7-day average +0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$620.619% of the position

Long on edgeX Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.214%+$21 on $10k

Price spread, last 4 days (all we have)+0.230%+$23 · spread now −0.372%, 7d avg +0.023%

Together, before fees+0.444%+ Points / potential airdropedgeX: Active · Pacifica: Active · farm board+$44 on $10k · with fees, hour by hour

Funding pays, the price is against you. Pacifica is 0.395% cheaper against edgeX than usual: you would sell low and buy high (spread −0.372% now, against its 7-day average of +0.023%). If the spread goes back, that is −$40 on $10k: about 26 days of funding at the current rate (+$2 a day). At the pace of the last 7 days (+0.214% in total) that is about 13 days. The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TRUMPUSDC	2.1647	0.0050	pay 0.0025% / 4h	1h 03m	$106K	$264K	20x
Short	Pacifica TRUMP	2.1566	0.0100	get 0.0013% / 1h	3m 54s	$186K	$53K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica against edgeX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 edgeXbpFee PacificabpOrdersPrice spread, now −0.372%Rate

Funding earned: $10.5
Price spread: −0.372% → +0.023%: −$39.52
Slippage, 4 orders: −$44.9
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$90.93
Costs to cover: 0.619%
Break-even: 67.6 days

Slippage from edgeX: live order book, 59 min ago; Pacifica: live order book, 59 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 edgeX live order book, 59 min ago	6.83 bp	14.6 bp −$15	38.1 bp −$381	doesn't fit	doesn't fit
Sell Pacifica live order book, 59 min ago	9.35 bp	17.5 bp −$17	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	−0.1659%	1h	2.1490	−0.725%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1501	−0.673%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0088%	1h	2.1555	−0.425%	$85	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0042%	4h	2.1570	−0.355%	$7.6M	$50.4M	75x	as long as short
Lighter TRUMP	−0.0032%	1h	2.1553	−0.434%	$952K	$933K	10x	as long as short
Bybit TRUMPUSDT	−0.0004%	4h	2.1560	−0.401%	$30.7M	$49.0M	50x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1566	−0.375%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1555	−0.425%	$406K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1545	−0.472%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0023%	8h	2.1553	−0.432%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRUMP	+0.0044%	4h	2.1581	−0.305%	$661K	$475K	—	as long as short
edgeX TRUMPUSDClong	+0.0050%	4h	2.1647	long leg	$106K	$264K	20x
Orderly PERP_TRUMP_USDC	+0.0067%	4h	2.1540	−0.494%	$4K	$233K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1586	−0.281%	$14.3M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1560	−0.401%	$426K	$830K	20x	as long as short
Pacifica TRUMPshort	+0.0100%	1h	2.1566	−0.372%	$186K	$53K	10x
Binance TRUMPUSDT	+0.0100%	4h	2.1560	−0.401%	$62.4M	$239.5M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1560	−0.401%	$27.3M	$171.1M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1550	−0.448%	$413K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1580	−0.309%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	−0.309%	$15.6M	$25.6M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1577	−0.323%	$256K	$320K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1690	+0.199%	$177K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1580	−0.309%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	−0.401%	$526K	$2.1M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1560	−0.404%	$74K	$747K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1545	−0.471%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1544	−0.476%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0291%	1h	2.1594	−0.244%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1570	−0.355%	$4.3M	$662K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1570	−0.355%	$280K	$284K	50x	as long as short