Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0111%/8h= −12.1% APRpaid last 24h −0.003%

Price spread now: Binance against Hyperliquid−0.145%7-day average −0.019% · you buy dearer than you sell

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

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$330.328% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.014%−$1 on $10k

Price spread, last 7 days+0.135%+$13 · spread now −0.145%, 7d avg −0.019%

Together, before fees+0.121%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.126% cheaper against Hyperliquid than usual: you would sell low and buy high (−$13 if the spread goes back to its 7-day average of −0.019%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.2052	0.0211	pay 0.0026% / 1h	56m 47s	$14.2M	$7.5M	10x
Short	Binance TRUMPUSDT	2.2020	0.0100	get 0.0050% / 4h	56m 47s	$62.8M	$221.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.145%Rate

Funding earned: −$23.26
Price spread: −0.145% → −0.019%: −$12.59
Slippage, 4 orders: −$13.75
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$68.6
Costs to cover: 0.328%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Binance: live order book, 2 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 Hyperliquid live order book, 6 min ago	1.14 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 2 min ago	2.27 bp	7.3 bp −$7	8.9 bp −$89	35.7 bp −$3,571	164.3 bp −$82.2K

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	−0.599%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2037	−0.069%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0022%	1h	2.2027	−0.113%	$413K	$76K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2037	−0.069%	$28K	$485	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2036	−0.072%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1928	−0.564%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0087%	4h	2.2020	−0.145%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.2025	−0.125%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2020	−0.145%	$991K	$724K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2031	−0.097%	$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	2.2030	−0.098%	$190K	$59K	10x	as long as short
Binance TRUMPUSDTshort	+0.0100%	4h	2.2020	−0.145%	$62.8M	$221.1M	75x
Bybit TRUMPUSDT	+0.0100%	4h	2.2030	−0.100%	$30.8M	$43.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2030	−0.100%	$27.1M	$151.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2020	−0.145%	$7.4M	$47.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2010	−0.190%	$484K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2030	−0.100%	$4.7M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2030	−0.100%	$15.7M	$21.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1922	−0.589%	$694K	$272K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1946	−0.479%	$191K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2040	−0.054%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2025	−0.122%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2040	−0.054%	$526K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2011	−0.187%	$76K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2030	−0.100%	$19K	—	3x	as long as short
Hyperliquid TRUMPlong	+0.0211%	1h	2.2052	long leg	$14.2M	$7.5M	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2031	−0.094%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2050	−0.009%	$4.2M	$630K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2010	−0.190%	$284K	$403K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0517%	1h	2.2046	−0.027%	$260K	$275K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0867%	1h	2.2048	−0.020%	$1.3M	$2.5M	50x	as long as short