TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0025%/8h= +2.8% APRnext payment +$0.03 per $10,000 · paid last 24h +0.057%

Price spread now: Backpack against Extended+0.212%7-day average +0.138% · you sell dearer than you buy

Net, funding: paid 7d − costs+$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$320.320% of the position

Long on Extended Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.412%+$41 on $10k

Price spread, last 4 days (all we have)−0.502%−$50 · spread now +0.212%, 7d avg +0.138%

Together, before fees−0.090%+ Points / potential airdropExtended: Active · farm board−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Backpack is 0.074% dearer against Extended than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.138%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Extended TRUMP-USD	2.1799	0.0104	pay 0.0013% / 1h	29m 27s	$116K	$706K	25x
Short	Backpack TRUMP_USDC_PERP	2.1845	0.0129	get 0.0016% / 1h	29m 27s	$256K	$321K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Extended. 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 ExtendedbpFee BackpackbpOrdersPrice spread, now +0.212%Rate

Funding earned: $5.33
Price spread: +0.212% → +0.138%: $7.43
Slippage, 4 orders: −$16.96
Fee Extended: 2.5 bp × 2 orders: −$5
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$19.2
Costs to cover: 0.320%
Break-even: 32.2 days

Slippage from Extended: live order book, 33 min ago; Backpack: live order book, 34 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 Extended live order book, 33 min ago	4.56 bp	7.7 bp −$8	31.5 bp −$315	doesn't fit	doesn't fit
Sell Backpack live order book, 34 min ago	0.23 bp	7.5 bp −$8	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	2.1680	−0.545%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1801	+0.011%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0076%	4h	2.1800	+0.006%	$7.7M	$49.9M	75x	as long as short
Lighter TRUMP	−0.0032%	1h	2.1810	+0.051%	$971K	$795K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1835	+0.168%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1829	+0.139%	$411K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	+0.051%	$42K	—	150x	as long as short
SoDEX TRUMP-USD	+0.0029%	1h	2.1817	+0.084%	$84	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0042%	8h	2.1809	+0.048%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1761	−0.175%	$106K	$264K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	+0.0053%	4h	2.1770	−0.132%	$31.1M	$48.4M	50x	as long as short
Orderly PERP_TRUMP_USDC	+0.0075%	4h	2.1780	−0.086%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1829	+0.137%	$14.4M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1829	+0.139%	$432K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1823	+0.110%	$188K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1799	0.000%	$63.1M	$237.3M	75x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1780	−0.086%	$27.6M	$170.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1800	+0.006%	$428K	$143K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1820	+0.097%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1810	+0.051%	$15.6M	$25.1M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1831	+0.146%	$685K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1840	+0.190%	$178K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1870	+0.327%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1860	+0.281%	$535K	$1.9M	50x	as long as short
Extended TRUMP-USDlong	+0.0104%	1h	2.1799	long leg	$116K	$706K	25x
Aevo TRUMP-PERP	+0.0104%	1h	2.1809	+0.048%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0129%	1h	2.1845	+0.212%	$256K	$321K	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1807	+0.036%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0287%	1h	2.1846	+0.217%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1820	+0.097%	$4.3M	$659K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1650	−0.683%	$280K	$297K	50x	as long as short