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% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against Bybit+0.130%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$27as in the Price arb table

costs, in and out, $10k−$360.363% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.056%−$6 on $10k

Price spread, last 7 days−0.130%−$13 · spread now +0.130%, 7d avg +0.035%

Together, before fees−0.186%+ Points / potential airdropHyperliquid: Season 2 · farm board−$19 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: Hyperliquid is 0.095% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit TRUMPUSDT	2.1550	0.0100	pay 0.0050% / 4h	0m 01s	$30.5M	$49.7M	50x
Short	Hyperliquid TRUMP	2.1578	0.0100	get 0.0013% / 1h	0m 01s	$13.7M	$7.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.130%Rate

Funding earned: $0
Price spread: +0.130% → +0.035%: $9.48
Slippage, 4 orders: −$16.3
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.82
Costs to cover: 0.363%
Break-even: never at this rate

Slippage from Bybit: live order book, 4 min ago; Hyperliquid: live order book, 3 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 Bybit live order book, 4 min ago	2.33 bp	11.3 bp −$11	18.3 bp −$183	119.0 bp −$11.9K	doesn't fit
Sell Hyperliquid live order book, 3 min ago	0.23 bp	6.5 bp −$7	12.6 bp −$126	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	2.1390	−0.742%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	+0.100%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0060%	1h	2.1570	+0.093%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0046%	4h	2.1560	+0.046%	$7.6M	$51.2M	75x	as long as short
Binance TRUMPUSDT	−0.0025%	4h	2.1560	+0.046%	$60.6M	$242.8M	75x	as long as short
Extended TRUMP-USD	−0.0024%	1h	2.1564	+0.065%	$74K	$721K	25x	as long as short
Variational Omni TRUMP	−0.0021%	4h	2.1561	+0.052%	$666K	$488K	—	as long as short
edgeX TRUMPUSDC	−0.0012%	4h	2.1471	−0.368%	$105K	$264K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1566	+0.074%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1586	+0.167%	$406K	$72K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1585	+0.161%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0016%	1h	2.1572	+0.102%	$954K	$958K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0037%	8h	2.1567	+0.078%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0043%	4h	2.1570	+0.093%	$4K	$187K	10x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1570	+0.093%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1578	+0.130%	$13.7M	$7.9M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1594	+0.206%	$423K	$793K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1581	+0.142%	$186K	$52K	10x	as long as short
Bybit TRUMPUSDTlong	+0.0100%	4h	2.1550	long leg	$30.5M	$49.7M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1580	+0.139%	$27.4M	$174.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	+0.046%	$405K	$152K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.186%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	+0.139%	$15.6M	$25.7M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1593	+0.200%	$342K	$368K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1500	−0.232%	$183K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.232%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.139%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1586	+0.168%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0217%	4h	2.1580	+0.139%	$4.2M	$683K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1598	+0.222%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1520	−0.139%	$278K	$276K	50x	as long as short