Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: Bybit against Hyperliquid−0.073%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$410.406% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days+0.053%+$5 · spread now −0.073%, 7d avg −0.034%

Together, before fees+0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.038% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.2056	0.0100	pay 0.0013% / 1h	29m 59s	$14.3M	$7.2M	10x
Short	Bybit TRUMPUSDT	2.2040	0.0100	get 0.0050% / 4h	2h 29m	$31.6M	$48.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.073%Rate

Funding earned: $0
Price spread: −0.073% → −0.034%: −$3.81
Slippage, 4 orders: −$20.61
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.42
Costs to cover: 0.406%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Bybit: live order book, 4 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, 3 min ago	0.90 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.27 bp	7.8 bp −$8	16.6 bp −$166	116.8 bp −$11.7K	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	2.1970	−0.390%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2002	−0.246%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0040%	4h	2.2020	−0.163%	$7.8M	$49.0M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1986	−0.315%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2013	−0.195%	$414K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2009	−0.213%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2128	+0.327%	$108K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0073%	8h	2.1975	−0.368%	$5K	$175	5x	as long as short
SoDEX TRUMP-USD	+0.0079%	1h	2.2025	−0.141%	$80	$6K	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1990	−0.299%	$4K	$243K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	+0.0096%	1h	2.2018	−0.172%	$979K	$789K	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.2056	long leg	$14.3M	$7.2M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.2016	−0.183%	$435K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1995	−0.275%	$189K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2042	−0.063%	$64.0M	$235.8M	75x	as long as short
Bybit TRUMPUSDTshort	+0.0100%	4h	2.2040	−0.073%	$31.6M	$48.3M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2040	−0.073%	$29.0M	$170.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2030	−0.118%	$438K	$146K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2050	−0.027%	$4.0M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2050	−0.027%	$15.8M	$24.2M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2012	−0.201%	$694K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2016	−0.179%	$181K	$4.7M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2030	−0.118%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2040	−0.073%	$552K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2029	−0.122%	$76K	$599K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2005	−0.231%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2008	−0.216%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0301%	1h	2.2060	+0.018%	$258K	$320K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0512%	1h	2.2053	−0.014%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2190	+0.608%	$288K	$307K	50x	as long as short