Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h +0.055%

Price spread now: Backpack against KuCoin+0.087%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$19as in the Funding arb table

Net, price: spread back to 7d avg − costs−$51as in the Price arb table

costs, in and out, $10k−$520.516% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.327%+$33 on $10k

Price spread, last 4 days (all we have)−0.009%−$1 · spread now +0.087%, 7d avg +0.081%

Together, before fees+0.318%+$32 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.081%, 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	KuCoin TRUMPUSDTM	2.1770	0.0100	pay 0.0050% / 4h	3h 47m	$4.0M	$10.5M	50x
Short	Backpack TRUMP_USDC_PERP	2.1789	0.0395	get 0.0049% / 1h	47m 03s	$258K	$284K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.087%Rate

Funding earned: $62
Price spread: +0.087% → +0.081%: $0.58
Slippage, 4 orders: −$29.64
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $10.93
Costs to cover: 0.516%
Break-even: 5.8 days

Slippage from KuCoin: live order book, 1 min ago; Backpack: live order book, 26 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 KuCoin live order book, 1 min ago	2.30 bp	19.1 bp −$19	114.8 bp −$1,148	doesn't fit	doesn't fit
Sell Backpack live order book, 26 min ago	0.23 bp	8.4 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	−0.1608%	1h	2.1640	−0.597%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1742	−0.130%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1765	−0.023%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1762	−0.037%	$408K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1770	0.000%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1758	−0.053%	$118K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1770	0.000%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1767	−0.014%	$973K	$715K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1747	−0.105%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1771	+0.004%	$453K	$836K	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	2.1758	−0.055%	$187K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1770	0.000%	$62.3M	$227.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1770	0.000%	$30.5M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1770	0.000%	$26.9M	$152.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1770	0.000%	$7.4M	$46.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1750	−0.092%	$471K	$132K	125x	as long as short
KuCoin TRUMPUSDTMlong	+0.0100%	4h	2.1770	long leg	$4.0M	$10.5M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1770	0.000%	$15.6M	$22.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1742	−0.130%	$636K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1770	0.000%	$181K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1790	+0.092%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1755	−0.069%	$71	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1790	+0.092%	$551K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1751	−0.089%	$75K	$516K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1755	−0.069%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1769	−0.003%	$10K	—	100x	as long as short
Hyperliquid TRUMP	+0.0220%	1h	2.1781	+0.051%	$14.1M	$7.5M	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1750	−0.092%	$4.2M	$625K	75x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0395%	1h	2.1789	+0.087%	$258K	$284K	10x
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1760	−0.046%	$281K	$383K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0791%	1h	2.1790	+0.093%	$1.3M	$2.6M	50x	as long as short