TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.032%

Price spread now: Hyperliquid against Deribit−0.096%7-day average +0.008% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.126%+$13 on $10k

Price spread, last 3 days (all we have)+0.198%+$20 · spread now −0.096%, 7d avg +0.008%

Together, before fees+0.324%+ Points / potential airdropHyperliquid: Season 2 · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.104% cheaper against Deribit than usual: you would sell low and buy high (spread −0.096% now, against its 7-day average of +0.008%). If the spread goes back, that is −$10 on $10k: about 3.5 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRUMP_USDC-PERPETUAL	2.1930	0	get 0.0000% / 1h	37m 42s	$411K	$79K	10x
Short	Hyperliquid TRUMP	2.1909	0.0100	get 0.0013% / 1h	37m 42s	$14.0M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now −0.096%Rate

Funding earned: $21
Price spread: −0.096% → +0.008%: −$10.35
Slippage, 4 orders: −$25.22
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$30.57
Costs to cover: 0.412%
Break-even: 17.2 days

Slippage from Deribit: live order book, 46 min ago; Hyperliquid: live order book, 5 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 Deribit live order book, 46 min ago	5.71 bp	10.1 bp −$10	19.6 bp −$196	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.23 bp	4.7 bp −$5	11.7 bp −$117	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	−0.1472%	1h	2.1810	−0.547%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1932	+0.011%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1907	−0.105%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALlong	0.0000%	1h	2.1930	long leg	$411K	$79K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1928	−0.007%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1957	+0.122%	$119K	$247K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1930	0.000%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0090%	8h	2.1871	−0.268%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1867	−0.287%	$973K	$671K	10x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1909	−0.096%	$14.0M	$7.5M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1900	−0.137%	$456K	$832K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1884	−0.211%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1871	−0.269%	$62.4M	$217.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1870	−0.274%	$30.7M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.228%	$26.7M	$149.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1870	−0.274%	$7.3M	$47.0M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	−0.274%	$480K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	−0.182%	$4.5M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1880	−0.228%	$15.6M	$20.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1962	+0.148%	$685K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1949	+0.089%	$189K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1950	+0.091%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1900	−0.137%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1940	+0.046%	$526K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1871	−0.268%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1891	−0.178%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1924	−0.027%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0325%	1h	2.1919	−0.050%	$260K	$269K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1930	0.000%	$4.2M	$516K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	−0.319%	$281K	$398K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0521%	1h	2.1928	−0.008%	$1.3M	$2.5M	50x	as long as short