Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0166%/8h= −18.1% APRpaid last 24h −0.057%

Price spread now: MEXC against Backpack−0.109%7-day average −0.151% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$25as in the Price arb table

costs, in and out, $10k−$290.288% of the position

Long on Backpack Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.457%−$46 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now −0.109%, 7d avg −0.151%

Together, before fees−0.524%−$52 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.042% dearer against Backpack than usual: you sell high and buy low (spread −0.109% now, against its 7-day average of −0.151%): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRUMP_USDC_PERP	2.1954	0.0266	pay 0.0033% / 1h	44m 50s	$260K	$267K	10x
Short	MEXC TRUMP_USDC	2.1930	0.0100	get 0.0050% / 4h	1h 44m	$482K	$132K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$34.79
Price spread: −0.109% → −0.151%: $4.21
Slippage, 4 orders: −$18.81
Fee Backpack: 5 bp × 2 orders: −$10
Fee MEXC: 0 bp × 2 orders: $0
Net: −$59.39
Costs to cover: 0.288%
Break-even: never at this rate

Slippage from Backpack: live order book, 38 min ago; MEXC: live order book, 30 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, 38 min ago	0.23 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 30 min ago	2.29 bp	2.3 bp −$2	16.6 bp −$166	124.2 bp −$12.4K	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	−0.1472%	1h	2.1810	−0.656%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1923	−0.140%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1908	−0.210%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1933	−0.096%	$411K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1916	−0.171%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1901	−0.241%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1930	−0.109%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0088%	8h	2.1917	−0.170%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1938	−0.073%	$976K	$671K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1975	+0.094%	$14.1M	$7.4M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1944	−0.047%	$457K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1928	−0.116%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1966	+0.055%	$62.6M	$217.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1960	+0.027%	$30.8M	$42.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1950	−0.018%	$26.9M	$149.5M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1950	−0.018%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDCshort	+0.0100%	4h	2.1930	−0.109%	$482K	$132K	125x
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1960	+0.027%	$4.6M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1970	+0.073%	$15.6M	$20.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1883	−0.324%	$682K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1884	−0.321%	$181K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1950	−0.018%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1945	−0.041%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1960	+0.027%	$518K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1951	−0.014%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1937	−0.075%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1916	−0.172%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERPlong	+0.0266%	1h	2.1954	long leg	$260K	$267K	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.1910	−0.200%	$4.2M	$519K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	−0.428%	$281K	$398K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0520%	1h	2.1975	+0.096%	$1.3M	$2.4M	50x	as long as short