Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0232%/8h= +25.4% APRpaid last 24h +0.054%

Price spread now: Backpack against SunX+0.009%7-day average +0.003% · you sell dearer than you buy

Net, funding: paid 7d − costs−$157as in the Funding arb table

Net, price: spread back to 7d avg − costs−$176as in the Price arb table

costs, in and out, $10k−$1761.765% of the position

Long on SunX Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$19 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.009%, 7d avg +0.003%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.003%, so right now this pair is about funding alone: +$7 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TRUMP-USDT	2.1550	0.0100	pay 0.0050% / 4h	3h 26m	$2K	$1.5M	50x
Short	Backpack TRUMP_USDC_PERP	2.1552	0.0332	get 0.0041% / 1h	26m 34s	$381K	$421K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against SunX. 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 SunXbpFee BackpackbpOrdersPrice spread, now +0.009%Rate

Funding earned: $48.67
Price spread: +0.009% → +0.003%: $0.67
Slippage, 4 orders: −$158.49
Fee SunX: 4 bp × 2 orders: −$8
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$127.16
Costs to cover: 1.765%
Break-even: 25.3 days

Slippage from SunX: live order book, 8 min ago; Backpack: live order book, 7 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 SunX live order book, 8 min ago	32.59 bp	65.7 bp −$66	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 7 min ago	0.23 bp	7.3 bp −$7	279.1 bp −$2,791	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	−0.1829%	1h	2.1350	−0.928%	$12K	$157K	12x	as long as short
Bybit TRUMPUSDT	−0.0473%	4h	2.1530	−0.093%	$31.0M	$51.7M	50x	as long as short
SoDEX TRUMP-USD	−0.0359%	1h	2.1515	−0.162%	$69	$6K	5x	as long as short
Variational Omni TRUMP	−0.0320%	4h	2.1381	−0.782%	$663K	$419K	—	as long as short
OKX TRUMP-USDT-SWAP	−0.0251%	4h	2.1510	−0.186%	$27.0M	$182.7M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1494	−0.260%	$5	—	10x	as long as short
Extended TRUMP-USD	−0.0240%	1h	2.1519	−0.145%	$74K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0240%	4h	2.1540	−0.046%	$62.7M	$247.4M	75x	as long as short
Gate TRUMP_USDT	−0.0222%	4h	2.1530	−0.093%	$7.7M	$50.1M	75x	as long as short
Lighter TRUMP	−0.0200%	1h	2.1527	−0.107%	$942K	$991K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0145%	8h	2.1528	−0.100%	$5K	$175	5x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1410	−0.650%	$148K	$493K	50x	as long as short
edgeX TRUMPUSDC	−0.0126%	4h	2.1390	−0.742%	$104K	$254K	20x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0121%	1h	2.1527	−0.107%	$389K	$81K	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0096%	4h	2.1520	−0.139%	$5K	$299K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0054%	4h	2.1530	−0.093%	$4.1M	$10.6M	50x	as long as short
dYdX TRUMP-USD	−0.0018%	1h	2.1536	−0.063%	$26K	$2K	5x	as long as short
BloFin TRUMP-USDT	0.0000%	4h	2.1540	−0.046%	$4.2M	$688K	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1447	−0.479%	$40K	—	150x	as long as short
Bitget TRUMPUSDT	+0.0014%	4h	2.1520	−0.139%	$15.3M	$26.4M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0020%	4h	2.1400	−0.696%	$176K	$4.3M	10x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1531	−0.089%	$19K	—	3x	as long as short
MEXC TRUMP_USDC	+0.0080%	4h	2.1520	−0.139%	$399K	$149K	125x	as long as short
Hyperliquid TRUMP	+0.0100%	1h	2.1546	−0.020%	$13.6M	$8.1M	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1550	0.000%	$410K	$679K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1550	−0.001%	$185K	$54K	10x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.1550	long leg	$2K	$1.5M	50x
HTX TRUMP-USDT	+0.0100%	4h	2.1530	−0.093%	$498K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1542	−0.037%	$1.3M	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1537	−0.062%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERPshort	+0.0332%	1h	2.1552	+0.009%	$381K	$421K	10x