Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0083%/8h= +9.1% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against HTX+0.141%7-day average −0.054% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$670.665% of the position

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.212%−$21 on $10k

Price spread, last 3 days (all we have)−0.034%−$3 · spread now +0.141%, 7d avg −0.054%

Together, before fees−0.246%+ Points / potential airdropHyperliquid: Season 2 · farm board−$25 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 0.195% dearer against HTX than usual: you sell high and buy low: +$19 more if the spread goes back to its 7-day average of −0.054%. Mind the row above: over the last 7 days funding on this pair cost −0.212%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TRUMP-USDT	2.2010	0.0100	pay 0.0050% / 4h	57m 51s	$525K	$1.8M	50x
Short	Hyperliquid TRUMP	2.2041	0.0183	get 0.0023% / 1h	57m 51s	$14.2M	$7.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. 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 HTXbpFee HyperliquidbpOrdersPrice spread, now +0.141%Rate

Funding earned: $17.49
Price spread: +0.141% → −0.054%: $19.49
Slippage, 4 orders: −$45.52
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$29.54
Costs to cover: 0.665%
Break-even: 18.8 days

Slippage from HTX: live order book, 1 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 HTX live order book, 1 min ago	9.08 bp	26.9 bp −$27	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 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	2.1830	−0.818%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2012	+0.008%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1968	−0.192%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1994	−0.073%	$412K	$76K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1996	−0.063%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1902	−0.492%	$119K	$249K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.1990	−0.091%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.1986	−0.111%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2019	+0.041%	$991K	$724K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2017	+0.032%	$458K	$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	2.1972	−0.172%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2020	+0.045%	$62.8M	$221.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2020	+0.045%	$30.8M	$43.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2020	+0.045%	$27.1M	$151.6M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2020	+0.045%	$7.4M	$47.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2000	−0.045%	$483K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2020	+0.045%	$4.6M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2030	+0.091%	$15.5M	$21.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1922	−0.400%	$694K	$272K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1946	−0.289%	$191K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2010	0.000%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1986	−0.109%	$74	$6K	5x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.2010	long leg	$525K	$1.8M	50x
Extended TRUMP-USD	+0.0104%	1h	2.2011	+0.003%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1974	−0.164%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0183%	1h	2.2041	+0.141%	$14.2M	$7.5M	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1990	−0.089%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1930	−0.363%	$4.2M	$627K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2010	0.000%	$284K	$403K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0455%	1h	2.2033	+0.104%	$260K	$275K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0868%	1h	2.2017	+0.033%	$1.3M	$2.5M	50x	as long as short