Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0215%/8h= +23.5% APRpaid last 24h +0.056%

Price spread now: Backpack against KuCoin+0.422%7-day average +0.081% · you sell dearer than you buy

Net, funding: paid 7d − costs−$16as in the Funding arb table

Net, price: spread back to 7d avg − costs−$15as in the Price arb table

costs, in and out, $10k−$490.490% of the position

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.331%+$33 on $10k

Price spread, last 4 days (all we have)−0.355%−$36 · spread now +0.422%, 7d avg +0.081%

Together, before fees−0.024%−$2 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Backpack is 0.341% dearer against KuCoin than usual: you sell high and buy low: +$34 more if the spread goes back to its 7-day average of +0.081%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRUMPUSDTM	2.2030	0.0100	pay 0.0050% / 4h	2h 38m	$4.1M	$11.0M	50x
Short	Backpack TRUMP_USDC_PERP	2.2123	0.0315	get 0.0039% / 1h	38m 16s	$259K	$323K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.422%Rate

Funding earned: $45.14
Price spread: +0.422% → +0.081%: $34.07
Slippage, 4 orders: −$27.04
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: $30.18
Costs to cover: 0.490%
Break-even: 2.3 days

Slippage from KuCoin: live order book, 5 min ago; Backpack: 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 KuCoin live order book, 5 min ago	4.50 bp	18.3 bp −$18	96.4 bp −$964	doesn't fit	doesn't fit
Sell Backpack live order book, 30 min ago	0.22 bp	6.0 bp −$6	doesn't fit	doesn't fit	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	−0.1623%	1h	2.1980	−0.227%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2027	−0.015%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0023%	1h	2.1974	−0.254%	$414K	$80K	10x	as long as short
Gate TRUMP_USDT	−0.0018%	4h	2.2000	−0.136%	$7.8M	$48.7M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	+0.116%	$28K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1995	−0.159%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2246	+0.981%	$108K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0077%	8h	2.2044	+0.062%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1980	−0.227%	$3K	$237K	10x	as long as short
SoDEX TRUMP-USD	+0.0094%	1h	2.1958	−0.327%	$80	$6K	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.1958	−0.327%	$976K	$789K	10x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.2054	+0.109%	$14.7M	$7.0M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2031	+0.004%	$436K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2050	+0.091%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1960	−0.318%	$63.8M	$236.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1960	−0.318%	$31.4M	$48.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1980	−0.227%	$28.8M	$169.5M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2020	−0.045%	$439K	$145K	125x	as long as short
KuCoin TRUMPUSDTMlong	+0.0100%	4h	2.2030	long leg	$4.1M	$11.0M	50x
Bitget TRUMPUSDT	+0.0100%	4h	2.1980	−0.227%	$15.7M	$24.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2072	+0.189%	$698K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2068	+0.172%	$181K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	−0.091%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2010	−0.091%	$564K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1960	−0.318%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1917	−0.511%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1991	−0.177%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0315%	1h	2.2123	+0.422%	$259K	$323K	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	+0.908%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0514%	1h	2.1979	−0.233%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	+0.318%	$286K	$307K	50x	as long as short