Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0167%/8h= +18.3% APRpaid last 24h +0.056%

Price spread now: Backpack against Aster+0.023%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$1as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$360.364% of the position

Long on Aster Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.351%+$35 on $10k

Price spread, last 4 days (all we have)−0.063%−$6 · spread now +0.023%, 7d avg +0.072%

Together, before fees+0.288%+ Points / potential airdropAster: Stage 5 · farm board+$29 on $10k · with fees, hour by hour

Funding pays, the price is against you. Backpack is 0.049% cheaper against Aster than usual: you would sell low and buy high (spread +0.023% now, against its 7-day average of +0.072%). If the spread goes back, that is −$5 on $10k: about 23 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TRUMPUSDT	2.1982	0.0100	pay 0.0050% / 4h	2h 01m	$435K	$862K	20x
Short	Backpack TRUMP_USDC_PERP	2.1987	0.0267	get 0.0033% / 1h	1m 45s	$257K	$316K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Aster. 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 AsterbpFee BackpackbpOrdersPrice spread, now +0.023%Rate

Funding earned: $35.12
Price spread: +0.023% → +0.072%: −$4.91
Slippage, 4 orders: −$18.42
Fee Aster: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$6.21
Costs to cover: 0.364%
Break-even: 8.2 days

Slippage from Aster: live order book, 1 min ago; Backpack: live order book, 2 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 Aster live order book, 1 min ago	4.55 bp	9.9 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.23 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1880	−0.464%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1961	−0.094%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0068%	4h	2.1950	−0.146%	$7.7M	$49.9M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1960	−0.100%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1978	−0.018%	$414K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1985	+0.013%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1884	−0.448%	$106K	$263K	20x	as long as short
Lighter TRUMP	+0.0056%	1h	2.1917	−0.296%	$975K	$800K	10x	as long as short
SoDEX TRUMP-USD	+0.0068%	1h	2.1961	−0.096%	$82	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0069%	8h	2.1937	−0.204%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1970	−0.055%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1953	−0.132%	$14.5M	$7.5M	10x	as long as short
Aster TRUMPUSDTlong	+0.0100%	4h	2.1982	long leg	$435K	$862K	20x
Pacifica TRUMP	+0.0100%	1h	2.1948	−0.153%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1950	−0.146%	$63.8M	$235.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1950	−0.146%	$31.5M	$48.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1930	−0.237%	$28.5M	$169.4M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1930	−0.237%	$436K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1970	−0.055%	$4.3M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1950	−0.146%	$15.7M	$24.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1911	−0.322%	$690K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1923	−0.268%	$180K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2000	+0.082%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	+0.127%	$549K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1940	−0.192%	$77K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1960	−0.099%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1984	+0.007%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0267%	1h	2.1987	+0.023%	$257K	$316K	10x
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1986	+0.017%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2000	+0.082%	$285K	$304K	50x	as long as short