Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0172%/8h= +18.9% APRpaid last 24h +0.021%

Price spread now: Hyperliquid against GRVT+0.554%105s7-day average +0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$34as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$380.377% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.038%+$4 on $10k

Price spread, last 7 days−0.569%−$57 · spread now +0.554%, 7d avg +0.040%

Together, before fees−0.531%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board−$53 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.514% dearer against GRVT than usual: you sell high and buy low: +$51 more if the spread goes back to its 7-day average of +0.040%. The two prices were read 105 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT TRUMP_USDT_Perp	2.1946	0.0100	pay 0.0050% / 4h	55m 48s	$191K	$4.5M	10x
Short	Hyperliquid TRUMP	2.2068	0.0272	get 0.0034% / 1h	55m 48s	$14.2M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GRVT. 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 GRVTbpFee HyperliquidbpOrdersPrice spread, now +0.554%Rate

Funding earned: $36.16
Price spread: +0.554% → +0.040%: $51.4
Slippage, 4 orders: −$19.72
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $49.84
Costs to cover: 0.377%
Break-even: from the start

Slippage from GRVT: live order book, 3 min ago; Hyperliquid: live order book, 7 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 GRVT live order book, 3 min ago	2.28 bp	11.1 bp −$11	31.5 bp −$315	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	1.14 bp	6.9 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	2.1920	−0.120%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2022	+0.344%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2037	+0.411%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2032	+0.390%	$413K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2030	+0.382%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1928	−0.086%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2020	+0.335%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.2020	+0.337%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2035	+0.404%	$991K	$724K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2050	+0.472%	$459K	$834K	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	2.2030	+0.383%	$190K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2044	+0.445%	$62.9M	$221.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2040	+0.426%	$30.8M	$43.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2050	+0.472%	$27.2M	$152.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2040	+0.426%	$7.4M	$47.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2040	+0.426%	$484K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2050	+0.472%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2050	+0.472%	$15.7M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1922	−0.111%	$694K	$272K	—	as long as short
GRVT TRUMP_USDT_Perplong	+0.0100%	4h	2.1946	long leg	$191K	$4.5M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.2060	+0.517%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2035	+0.404%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2050	+0.472%	$526K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2041	+0.432%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2026	+0.361%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2030	+0.381%	$10K	—	100x	as long as short
Hyperliquid TRUMPshort	+0.0272%	1h	2.2068	+0.554%	$14.2M	$7.5M	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.2050	+0.472%	$4.2M	$630K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2010	+0.290%	$284K	$403K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0533%	1h	2.2060	+0.517%	$260K	$275K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0866%	1h	2.2064	+0.536%	$1.3M	$2.5M	50x	as long as short