Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0345%/8h= +37.7% APRpaid last 24h +0.056%

Price spread now: Backpack against MEXC+0.210%7-day average +0.143% · you sell dearer than you buy

Net, funding: paid 7d − costs+$20as in the Funding arb table

Net, price: spread back to 7d avg − costs−$21as in the Price arb table

costs, in and out, $10k−$280.277% of the position

Long on MEXC Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.476%+$48 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.210%, 7d avg +0.143%

Together, before fees+0.442%+$44 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.067% dearer against MEXC than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.143%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC TRUMP_USDC	2.1440	−0.0158	get 0.0079% / 4h	1h 46m	$388K	$142K	125x
Short	Backpack TRUMP_USDC_PERP	2.1485	0.0187	get 0.0023% / 1h	46m 07s	$381K	$395K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against MEXC. 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 MEXCbpFee BackpackbpOrdersPrice spread, now +0.210%Rate

Funding earned: $72.4
Price spread: +0.210% → +0.143%: $6.72
Slippage, 4 orders: −$17.71
Fee MEXC: 0 bp × 2 orders: $0
Fee Backpack: 5 bp × 2 orders: −$10
Net: $51.41
Costs to cover: 0.277%
Break-even: 2.0 days

Slippage from MEXC: live order book, 59 min ago; Backpack: live order book, 65 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 MEXC live order book, 59 min ago	2.33 bp	6.4 bp −$6	18.0 bp −$180	120.3 bp −$12.0K	doesn't fit
Sell Backpack live order book, 65 min ago	0.23 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
Variational Omni TRUMP	−0.0404%	4h	2.1470	+0.138%	$667K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0388%	4h	2.1450	+0.047%	$31.2M	$48.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0348%	4h	2.1450	+0.047%	$27.3M	$172.5M	50x	as long as short
SoDEX TRUMP-USD	−0.0340%	1h	2.1461	+0.098%	$75	$6K	5x	as long as short
Binance TRUMPUSDT	−0.0321%	4h	2.1460	+0.093%	$63.0M	$237.6M	75x	as long as short
Extended TRUMP-USD	−0.0320%	1h	2.1453	+0.060%	$74K	$491K	25x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1460	+0.093%	$131K	$515K	50x	as long as short
Gate TRUMP_USDT	−0.0246%	4h	2.1460	+0.093%	$7.8M	$47.2M	75x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1460	+0.092%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0215%	1h	2.1473	+0.154%	$386K	$78K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0180%	8h	2.1462	+0.101%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0158%	4h	2.1471	+0.147%	$105K	$254K	20x	as long as short
MEXC TRUMP_USDClong	−0.0158%	4h	2.1440	long leg	$388K	$142K	125x
Lighter TRUMP	−0.0144%	1h	2.1461	+0.098%	$922K	$953K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0130%	4h	2.1470	+0.140%	$4.2M	$10.1M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0083%	4h	2.1460	+0.093%	$5K	$303K	10x	as long as short
BloFin TRUMP-USDT	−0.0081%	4h	2.1450	+0.047%	$4.4M	$674K	75x	as long as short
Bitget TRUMPUSDT	−0.0028%	4h	2.1460	+0.093%	$15.3M	$25.1M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1495	+0.257%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	0.0000%	1h	2.1455	+0.070%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1474	+0.158%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1495	+0.256%	$1.3M	$1.9M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.746%	$13K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0034%	4h	2.1480	+0.186%	$171K	$4.0M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1469	+0.135%	$13.6M	$7.6M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1470	+0.139%	$405K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1489	+0.229%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1480	+0.187%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1490	+0.233%	$498K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1480	+0.187%	$149K	$358K	50x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0187%	1h	2.1485	+0.210%	$381K	$395K	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0197% / S −0.0194%	1h	2.1479	+0.180%	$11K	—	100x	as long as short