Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0280%/8h= +30.7% APRpaid last 24h +0.052%

Price spread now: Backpack against Bitget+0.162%7-day average +0.094% · you sell dearer than you buy

Net, funding: paid 7d − costs−$3as in the Funding arb table

Net, price: spread back to 7d avg − costs−$28as in the Price arb table

costs, in and out, $10k−$350.347% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.313%+$31 on $10k

Price spread, last 4 days (all we have)−0.097%−$10 · spread now +0.162%, 7d avg +0.094%

Together, before fees+0.216%+$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Backpack is 0.068% dearer against Bitget than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.094%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRUMPUSDT	2.1570	−0.0002	get 0.0001% / 4h	8m 31s	$15.6M	$24.1M	75x
Short	Backpack TRUMP_USDC_PERP	2.1605	0.0278	get 0.0035% / 1h	8m 31s	$384K	$383K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now +0.162%Rate

Funding earned: $58.85
Price spread: +0.162% → +0.094%: $6.85
Slippage, 4 orders: −$12.66
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $31.04
Costs to cover: 0.347%
Break-even: 3.3 days

Slippage from Bitget: live order book, 3 min ago; Backpack: live order book, 33 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 Bitget live order book, 3 min ago	2.32 bp	12.8 bp −$13	16.1 bp −$161	43.4 bp −$4,345	doesn't fit
Sell Backpack live order book, 33 min ago	0.23 bp	7.3 bp −$7	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	−0.0390%	4h	2.1519	−0.236%	$669K	$398K	—	as long as short
Bybit TRUMPUSDT	−0.0341%	4h	2.1550	−0.093%	$31.3M	$47.6M	50x	as long as short
Extended TRUMP-USD	−0.0336%	1h	2.1532	−0.175%	$74K	$472K	25x	as long as short
Binance TRUMPUSDT	−0.0334%	4h	2.1543	−0.126%	$63.0M	$231.8M	75x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1580	+0.046%	$126K	$517K	50x	as long as short
MEXC TRUMP_USDC	−0.0314%	4h	2.1530	−0.185%	$390K	$145K	125x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1547	−0.107%	$920K	$930K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0249%	4h	2.1540	−0.139%	$27.2M	$171.1M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1534	−0.166%	$5	—	10x	as long as short
KuCoin TRUMPUSDTM	−0.0222%	4h	2.1550	−0.093%	$4.3M	$9.7M	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0174%	4h	2.1560	−0.048%	$105K	$252K	20x	as long as short
Gate TRUMP_USDT	−0.0164%	4h	2.1550	−0.093%	$7.7M	$46.7M	75x	as long as short
SoDEX TRUMP-USD	−0.0161%	1h	2.1575	+0.023%	$81	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0119%	8h	2.1539	−0.142%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0099%	4h	2.1570	0.000%	$4.4M	$664K	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0074%	1h	2.1587	+0.079%	$388K	$67K	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0065%	4h	2.1570	0.000%	$5K	$281K	10x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1574	+0.018%	$25K	$3K	5x	as long as short
Bitget TRUMPUSDTlong	−0.0002%	4h	2.1570	long leg	$15.6M	$24.1M	75x
Aevo TRUMP-PERP	0.0000%	1h	2.1563	−0.033%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1562	−0.035%	$41K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1430	−0.649%	$12K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0054%	4h	2.1548	−0.104%	$176K	$3.9M	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1566	−0.019%	$13.7M	$7.2M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1552	−0.085%	$405K	$645K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1558	−0.054%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1610	+0.185%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1610	+0.185%	$486K	$2.5M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1580	+0.046%	$305K	$728K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0233% / S −0.0239%	1h	2.1596	+0.123%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0278%	1h	2.1605	+0.162%	$384K	$383K	10x
Kraken Futures PF_TRUMPUSD	+0.0324%	1h	2.1618	+0.221%	$1.5M	$2.1M	50x	as long as short