TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0404%/8h= +44.2% APRnext payment +$0.51 per $10,000 · paid last 24h +0.029%

Price spread now: Coinbase International against Backpack+0.585%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3as in the Price arb table

costs, in and out, $10k−$630.629% of the position

Long on Backpack Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days−0.145%−$15 on $10k

Price spread, last 3 days (all we have)−0.620%−$62 · spread now +0.585%, 7d avg −0.016%

Together, before fees−0.766%−$77 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Coinbase International is 0.601% dearer against Backpack than usual: you sell high and buy low: +$60 more if the spread goes back to its 7-day average of −0.016%. Mind the row above: over the last 7 days funding on this pair cost −0.145%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.145% in total (about -7.6% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.51 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1872	0.0100	pay 0.0013% / 1h	54m 14s	$257K	$314K	10x
Short	Coinbase International TRUMP-PERP-INTX	2.2000	0.0504	get 0.0063% / 1h	54m 14s	$285K	$303K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International against Backpack. 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 BackpackbpFee Coinbase InternationalbpOrdersPrice spread, now +0.585%Rate

Funding earned: $84.84
Price spread: +0.585% → −0.016%: $60.14
Slippage, 4 orders: −$42.89
Fee Backpack: 5 bp × 2 orders: −$10
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: $82.09
Costs to cover: 0.629%
Break-even: 0.2 days

Slippage from Backpack: live order book, 9 min ago; Coinbase International: live order book, 9 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 Backpack live order book, 9 min ago	0.23 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 9 min ago	15.93 bp	25.4 bp −$25	29.9 bp −$299	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	−0.1659%	1h	2.1780	−0.421%	$13K	$157K	12x	as long as short
Lighter TRUMP	−0.0448%	1h	2.1852	−0.091%	$974K	$791K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1821	−0.232%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0120%	4h	2.1840	−0.146%	$7.7M	$49.0M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1846	−0.121%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1870	−0.009%	$412K	$72K	10x	as long as short
SoDEX TRUMP-USD	+0.0006%	1h	2.1865	−0.032%	$85	$6K	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1835	−0.171%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1785	−0.399%	$106K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0056%	8h	2.1828	−0.203%	$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	+0.0084%	4h	2.1840	−0.146%	$4K	$239K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1859	−0.059%	$14.4M	$7.5M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1834	−0.175%	$432K	$829K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1843	−0.135%	$188K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1854	−0.083%	$63.5M	$234.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1850	−0.101%	$31.4M	$47.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1840	−0.146%	$28.3M	$168.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1860	−0.055%	$435K	$141K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1850	−0.101%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1850	−0.101%	$15.7M	$24.5M	75x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0100%	1h	2.1872	long leg	$257K	$314K	10x
Variational Omni TRUMP	+0.0100%	4h	2.1971	+0.454%	$688K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1859	−0.058%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1850	−0.101%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	+0.037%	$535K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1860	−0.056%	$116K	$705K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1850	−0.101%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1838	−0.156%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0287%	1h	2.1894	+0.100%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0504%	1h	2.2000	+0.585%	$285K	$303K	50x