Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0335%/8h= +36.7% APRpaid last 24h +0.079%

Price spread now: Backpack against Paradex+0.214%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Paradex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$10 a day on $10k at the current rate, and Backpack is 0.214% dearer against Paradex than usual: you sell high and buy low: +$21 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TRUMP-USD-PERP	2.1427	−0.0168	get 0.0168% / 8h	5h 03m	$5K	$175	5x
Short	Backpack TRUMP_USDC_PERP	2.1473	0.0167	get 0.0021% / 1h	3m 47s	$384K	$391K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Paradex. 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 ParadexbpFee BackpackbpOrdersPrice spread, now +0.214%Rate

Funding earned: $70.35
Price spread: +0.214% → 0.000%: $21.43
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Backpack: 5 bp × 2 orders: −$10
Net: $77.78
Costs to cover: 0.140%
Break-even: from the start

Slippage unknown: Paradex: no order-book sample; Backpack: live order book, 43 min ago. Net counts fees only.

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 Paradex no order-book sample	—	—	—	—	—
Sell Backpack live order book, 43 min ago	0.23 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
SoDEX TRUMP-USD	−0.0435%	1h	2.1435	+0.037%	$84	$6K	5x	as long as short
Variational Omni TRUMP	−0.0378%	4h	2.1449	+0.104%	$667K	$400K	—	as long as short
Extended TRUMP-USD	−0.0376%	1h	2.1428	+0.004%	$74K	$488K	25x	as long as short
Binance TRUMPUSDT	−0.0373%	4h	2.1442	+0.071%	$62.8M	$237.2M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0344%	4h	2.1440	+0.060%	$27.1M	$172.9M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0296%	1h	2.1410	−0.080%	$128K	$521K	50x	as long as short
Bybit TRUMPUSDT	−0.0293%	4h	2.1440	+0.060%	$31.2M	$48.3M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0263%	1h	2.1443	+0.074%	$385K	$79K	10x	as long as short
MEXC TRUMP_USDC	−0.0250%	4h	2.1420	−0.033%	$388K	$144K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1429	+0.011%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0208%	1h	2.1436	+0.042%	$918K	$969K	10x	as long as short
Gate TRUMP_USDT	−0.0192%	4h	2.1430	+0.014%	$7.7M	$48.1M	75x	as long as short
edgeX TRUMPUSDC	−0.0187%	4h	2.1434	+0.033%	$105K	$253K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0186%	4h	2.1440	+0.060%	$4.3M	$10.1M	50x	as long as short
Paradex TRUMP-USD-PERPlong	−0.0168%	8h	2.1427	long leg	$5K	$175	5x
BloFin TRUMP-USDT	−0.0132%	4h	2.1440	+0.060%	$4.3M	$658K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0095%	4h	2.1420	−0.033%	$5K	$294K	10x	as long as short
Bitget TRUMPUSDT	−0.0036%	4h	2.1460	+0.154%	$15.5M	$24.8M	75x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1417	−0.046%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1455	+0.132%	$25K	$3K	5x	as long as short
GRVT TRUMP_USDT_Perp	+0.0006%	4h	2.1455	+0.130%	$173K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1453	+0.121%	$40K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1482	+0.258%	$1.4M	$2.1M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.807%	$13K	$157K	12x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1460	+0.154%	$13.5M	$7.3M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1445	+0.084%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1441	+0.067%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1460	+0.154%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	+0.154%	$487K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1430	+0.014%	$250K	$560K	50x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0167%	1h	2.1473	+0.214%	$384K	$391K	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0213% / S −0.0214%	1h	2.1467	+0.185%	$11K	—	100x	as long as short