TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0190%/8h= −20.8% APRnext payment −$0.24 per $10,000 · paid last 24h −0.080%

Price spread now: Hyperliquid against Coinbase International−0.612%7-day average −0.022% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$120as in the Price arb table

costs, in and out, $10k−$610.612% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.239%−$24 on $10k

Price spread, last 3 days (all we have)+0.665%+$67 · spread now −0.612%, 7d avg −0.022%

Together, before fees+0.426%+ Points / potential airdropHyperliquid: Season 2 · farm board+$43 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Hyperliquid is 0.590% cheaper against Coinbase International than usual: you would sell low and buy high (−$59 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.2060	0.0424	pay 0.0053% / 1h	4m 29s	$285K	$388K	50x
Short	Hyperliquid TRUMP	2.1925	0.0234	get 0.0029% / 1h	4m 29s	$14.2M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. 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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now −0.612%Rate

Funding earned: −$39.92
Price spread: −0.612% → −0.022%: −$58.95
Slippage, 4 orders: −$42.21
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$160.08
Costs to cover: 0.612%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 9 min ago; Hyperliquid: live order book, 8 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 Coinbase International live order book, 9 min ago	13.72 bp	24.1 bp −$24	32.2 bp −$322	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.92 bp	7.4 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	−0.1537%	1h	2.1760	−1.360%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1842	−0.988%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1896	−0.743%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1866	−0.879%	$410K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1858	−0.917%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1879	−0.819%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1850	−0.952%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1886	−0.789%	$981K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1895	−0.749%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1896	−0.745%	$455K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1897	−0.737%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1893	−0.756%	$63.0M	$226.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1890	−0.771%	$30.7M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1890	−0.771%	$27.2M	$153.3M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	−0.771%	$7.4M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	−0.816%	$474K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.771%	$4.3M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	−0.771%	$15.5M	$21.8M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1822	−1.079%	$637K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1898	−0.736%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1880	−0.816%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1855	−0.929%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	−0.816%	$553K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1891	−0.767%	$75K	$467K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1845	−0.975%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1854	−0.932%	$10K	—	100x	as long as short
Hyperliquid TRUMPshort	+0.0234%	1h	2.1925	−0.612%	$14.2M	$7.6M	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.1850	−0.952%	$4.2M	$636K	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	+0.0424%	1h	2.2060	long leg	$285K	$388K	50x
Backpack TRUMP_USDC_PERP	+0.0471%	1h	2.1880	−0.816%	$256K	$282K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0873%	1h	2.1881	−0.811%	$1.3M	$2.5M	50x	as long as short