Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0202%/8h= −22.1% APRpaid last 24h −0.065%

Price spread now: Hyperliquid against BloFin+0.234%7-day average +0.037% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

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

costs, in and out, $10k−$450.447% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.403%−$40 on $10k

Price spread, last 3 days (all we have)−0.052%−$5 · spread now +0.234%, 7d avg +0.037%

Together, before fees−0.454%+ Points / potential airdropHyperliquid: Season 2 · farm board−$45 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.197% dearer against BloFin than usual: you sell high and buy low (spread +0.234% now, against its 7-day average of +0.037%): +$20 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 3.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRUMP-USDT	2.1800	0.0340	pay 0.0170% / 4h	2h 27m	$4.1M	$494K	75x
Short	Hyperliquid TRUMP	2.1851	0.0138	get 0.0017% / 1h	27m 07s	$14.1M	$7.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.234%Rate

Funding earned: −$42.39
Price spread: +0.234% → +0.037%: $19.7
Slippage, 4 orders: −$23.67
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$67.36
Costs to cover: 0.447%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Hyperliquid: live order book, 6 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 BloFin live order book, 6 min ago	6.90 bp	12.9 bp −$13	16.3 bp −$163	38.5 bp −$3,855	202.4 bp −$101.2K
Sell Hyperliquid live order book, 6 min ago	0.92 bp	8.9 bp −$9	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	−0.1787%	1h	2.1640	−0.734%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1809	+0.042%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0130%	1h	2.1828	+0.129%	$1.0M	$2.1M	50x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1797	−0.014%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1824	+0.110%	$409K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1818	+0.082%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0024%	1h	2.1809	+0.041%	$972K	$658K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1735	−0.297%	$118K	$248K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0074%	8h	2.1808	+0.038%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1810	+0.046%	$3K	$249K	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	2.1821	+0.095%	$457K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1812	+0.056%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1820	+0.092%	$62.1M	$215.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1830	+0.138%	$30.4M	$42.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1820	+0.092%	$26.6M	$147.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1810	+0.046%	$7.4M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1810	+0.046%	$479K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1810	+0.046%	$4.7M	$10.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1830	+0.138%	$15.5M	$20.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1734	−0.303%	$678K	$262K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1745	−0.254%	$186K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1840	+0.183%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1815	+0.069%	$71	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1830	+0.138%	$512K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1812	+0.057%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1804	+0.018%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0138%	1h	2.1851	+0.234%	$14.1M	$7.4M	10x
Backpack TRUMP_USDC_PERP	+0.0189%	1h	2.1851	+0.234%	$261K	$260K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1821	+0.098%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1830	+0.138%	$280K	$398K	50x	as long as short
BloFin TRUMP-USDTlong	+0.0340%	4h	2.1800	long leg	$4.1M	$494K	75x