Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0041%/8h= −4.5% APRpaid last 24h +0.057%

Price spread now: BloFin against Hyperliquid+0.070%7-day average −0.049% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$470.469% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.399%+$40 on $10k

Price spread, last 4 days (all we have)−0.193%−$19 · spread now +0.070%, 7d avg −0.049%

Together, before fees+0.207%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BloFin is 0.118% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.070% now, against its 7-day average of −0.049%): +$12 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.5 days. Mind the row above: over the last 7 days funding on this pair paid +0.399%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1545	0.0100	pay 0.0013% / 1h	56m 37s	$13.6M	$8.0M	10x
Short	BloFin TRUMP-USDT	2.1560	0.0059	get 0.0029% / 4h	2h 56m	$4.2M	$651K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.070%Rate

Funding earned: −$8.66
Price spread: +0.070% → −0.049%: $11.82
Slippage, 4 orders: −$25.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$43.78
Costs to cover: 0.469%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; BloFin: 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	1.63 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 2 min ago	7.00 bp	17.2 bp −$17	22.2 bp −$222	40.0 bp −$3,996	108.4 bp −$54.2K

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	−0.1827%	1h	2.1320	−1.044%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0377%	1h	2.1566	+0.097%	$87	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1562	+0.077%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0226%	8h	2.1526	−0.087%	$5K	$175	5x	as long as short
Lighter TRUMP	−0.0208%	1h	2.1523	−0.102%	$952K	$994K	10x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1549	+0.019%	$74K	$720K	25x	as long as short
Binance TRUMPUSDT	−0.0183%	4h	2.1540	−0.023%	$60.8M	$246.9M	75x	as long as short
Bybit TRUMPUSDT	−0.0170%	4h	2.1550	+0.023%	$30.6M	$51.1M	50x	as long as short
dYdX TRUMP-USD	−0.0108%	1h	2.1560	+0.068%	$27K	$508	5x	as long as short
Gate TRUMP_USDT	−0.0108%	4h	2.1560	+0.070%	$7.7M	$52.1M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0084%	4h	2.1470	−0.348%	$105K	$265K	20x	as long as short
Variational Omni TRUMP	−0.0074%	4h	2.1471	−0.342%	$664K	$437K	—	as long as short
GRVT TRUMP_USDT_Perp	−0.0014%	4h	2.1484	−0.284%	$179K	$4.7M	10x	as long as short
Orderly PERP_TRUMP_USDC	−0.0012%	4h	2.1580	+0.162%	$5K	$206K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1604	+0.274%	$407K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1595	+0.231%	$41K	—	150x	as long as short
OKX TRUMP-USDT-SWAP	+0.0037%	4h	2.1530	−0.070%	$27.3M	$179.4M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1560	+0.070%	$19K	—	3x	as long as short
BloFin TRUMP-USDTshort	+0.0059%	4h	2.1560	+0.070%	$4.2M	$651K	75x
Hyperliquid TRUMPlong	+0.0100%	1h	2.1545	long leg	$13.6M	$8.0M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1561	+0.075%	$406K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1553	+0.037%	$186K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1540	−0.023%	$401K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1550	+0.023%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1540	−0.023%	$15.5M	$26.4M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.255%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1610	+0.302%	$489K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1596	+0.236%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1593	+0.223%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1570	+0.116%	$291K	$305K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0400%	1h	2.1615	+0.325%	$382K	$403K	10x	as long as short