Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.019%

Price spread now: Hyperliquid against edgeX+0.273%7-day average +0.049% · you sell dearer than you buy

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$530.534% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.008%+$1 on $10k

Price spread, last 4 days (all we have)−0.834%−$83 · spread now +0.273%, 7d avg +0.049%

Together, before fees−0.826%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$83 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.224% dearer against edgeX than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.049%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TRUMPUSDC	2.2002	0.0050	pay 0.0025% / 4h	2h 27m	$107K	$262K	20x
Short	Hyperliquid TRUMP	2.2062	0.0100	get 0.0013% / 1h	27m 36s	$14.3M	$7.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.273%Rate

Funding earned: $10.5
Price spread: +0.273% → +0.049%: $22.39
Slippage, 4 orders: −$35.36
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$20.47
Costs to cover: 0.534%
Break-even: 20.6 days

Slippage from edgeX: live order book, 40 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 edgeX live order book, 40 min ago	8.92 bp	15.9 bp −$16	36.7 bp −$367	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.90 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1880	−0.554%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2042	+0.180%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0060%	4h	2.2020	+0.082%	$7.8M	$49.0M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2046	+0.202%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2087	+0.387%	$416K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2065	+0.286%	$43K	—	150x	as long as short
edgeX TRUMPUSDClong	+0.0050%	4h	2.2002	long leg	$107K	$262K	20x
Paradex TRUMP-USD-PERP	+0.0075%	8h	2.2047	+0.204%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.2070	+0.310%	$4K	$241K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2035	+0.150%	$980K	$790K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
SoDEX TRUMP-USD	+0.0098%	1h	2.2078	+0.346%	$78	$6K	5x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.2062	+0.273%	$14.3M	$7.2M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.2060	+0.264%	$436K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2052	+0.230%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2030	+0.128%	$64.0M	$236.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2040	+0.173%	$31.6M	$48.4M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2010	+0.037%	$29.0M	$170.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2020	+0.082%	$438K	$146K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2060	+0.264%	$4.0M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2030	+0.128%	$15.8M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2012	+0.044%	$694K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2006	+0.021%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2100	+0.446%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2090	+0.400%	$553K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1999	−0.012%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2070	+0.310%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2056	+0.247%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0302%	1h	2.2070	+0.310%	$258K	$320K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0511%	1h	2.2107	+0.476%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2190	+0.855%	$288K	$307K	50x	as long as short