Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.056%

Price spread now: Backpack against Pacifica+0.019%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$29as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$480.482% of the position

Long on Pacifica Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.190%+$19 on $10k

Price spread, last 4 days (all we have)−0.067%−$7 · spread now +0.019%, 7d avg +0.075%

Together, before fees+0.123%+ Points / potential airdropPacifica: Active · farm board+$12 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.057% cheaper against Pacifica than usual: you would sell low and buy high, −$6 on $10k if it goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TRUMP	2.1585	0.0100	pay 0.0013% / 1h	24m 33s	$186K	$53K	10x
Short	Backpack TRUMP_USDC_PERP	2.1589	0.0100	get 0.0013% / 1h	24m 33s	$253K	$319K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Pacifica. 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 PacificabpFee BackpackbpOrdersPrice spread, now +0.019%Rate

Funding earned: $0
Price spread: +0.019% → +0.075%: −$5.68
Slippage, 4 orders: −$30.2
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$53.89
Costs to cover: 0.482%
Break-even: never at this rate

Slippage from Pacifica: live order book, 33 min ago; Backpack: live order book, 34 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 Pacifica live order book, 33 min ago	5.37 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 34 min ago	0.23 bp	6.7 bp −$7	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	−0.1690%	1h	2.1490	−0.440%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1606	+0.098%	$5	—	10x	as long as short
Lighter TRUMP	−0.0120%	1h	2.1573	−0.056%	$955K	$956K	10x	as long as short
SoDEX TRUMP-USD	−0.0117%	1h	2.1600	+0.069%	$98	$6K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0074%	1h	2.1613	+0.130%	$407K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0058%	4h	2.1580	−0.023%	$7.6M	$51.0M	75x	as long as short
dYdX TRUMP-USD	−0.0003%	1h	2.1586	+0.004%	$27K	$512	5x	as long as short
Binance TRUMPUSDT	−0.0002%	4h	2.1590	+0.023%	$60.6M	$241.6M	75x	as long as short
Extended TRUMP-USD	0.0000%	1h	2.1579	−0.026%	$75K	$745K	25x	as long as short
Variational Omni TRUMP	+0.0003%	4h	2.1581	−0.018%	$666K	$488K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	+0.0004%	4h	2.1582	−0.012%	$105K	$263K	20x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1624	+0.182%	$41K	—	150x	as long as short
BloFin TRUMP-USDT	+0.0009%	4h	2.1590	+0.023%	$4.1M	$684K	75x	as long as short
Paradex TRUMP-USD-PERP	+0.0024%	8h	2.1577	−0.039%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0044%	4h	2.1610	+0.116%	$4K	$207K	10x	as long as short
Bybit TRUMPUSDT	+0.0066%	4h	2.1590	+0.023%	$30.6M	$49.5M	50x	as long as short
Aevo TRUMP-PERP	+0.0080%	1h	2.1595	+0.046%	$19K	—	3x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1605	+0.093%	$14.3M	$7.4M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1590	+0.023%	$423K	$829K	20x	as long as short
Pacifica TRUMPlong	+0.0100%	1h	2.1585	long leg	$186K	$53K	10x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1590	+0.023%	$27.2M	$174.0M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1570	−0.069%	$405K	$151K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.023%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1590	+0.023%	$15.6M	$25.5M	75x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0100%	1h	2.1589	+0.019%	$253K	$319K	10x
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1600	+0.069%	$184K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1620	+0.162%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1630	+0.208%	$505K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1618	+0.151%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0219%	1h	2.1627	+0.194%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1600	+0.069%	$280K	$281K	50x	as long as short