TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0372%/8h= +40.7% APRnext payment +$0.46 per $10,000 · paid last 24h +0.086%

Price spread now: Coinbase International against Hyperliquid−0.269%7-day average +0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$670.669% of the position

Long on Hyperliquid Short on Coinbase International

What this pair did over the last

the charts below follow

Funding, last 7 days+0.258%+$26 on $10k

Price spread, last 4 days (all we have)+0.087%+$9 · spread now −0.269%, 7d avg +0.045%

Together, before fees+0.344%+ Points / potential airdropHyperliquid: Season 2 · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. Coinbase International is 0.314% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.269% now, against its 7-day average of +0.045%). If the spread goes back, that is −$31 on $10k: about 2.8 days of funding at the current rate (+$11 a day). At the pace of the last 7 days (+0.258% in total) that is about 8.5 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.258% in total (about 13.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.46 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1578	0.0100	pay 0.0013% / 1h	59m 56s	$13.7M	$7.9M	10x
Short	Coinbase International TRUMP-PERP-INTX	2.1520	0.0472	get 0.0059% / 1h	59m 56s	$278K	$276K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Coinbase International 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 Coinbase InternationalbpOrdersPrice spread, now −0.269%Rate

Funding earned: $78.12
Price spread: −0.269% → +0.045%: −$31.37
Slippage, 4 orders: −$47.87
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Coinbase International: 5 bp × 2 orders: −$10
Net: −$20.11
Costs to cover: 0.669%
Break-even: 8.8 days

Slippage from Hyperliquid: live order book, 3 min ago; Coinbase International: live order book, 58 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	0.23 bp	10.5 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Coinbase International live order book, 58 min ago	16.32 bp	25.9 bp −$26	36.5 bp −$365	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	−0.1690%	1h	2.1390	−0.871%	$12K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1571	−0.030%	$5	—	10x	as long as short
SoDEX TRUMP-USD	−0.0060%	1h	2.1570	−0.037%	$94	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0046%	4h	2.1560	−0.083%	$7.6M	$51.2M	75x	as long as short
Binance TRUMPUSDT	−0.0025%	4h	2.1560	−0.083%	$60.6M	$242.8M	75x	as long as short
Extended TRUMP-USD	−0.0024%	1h	2.1564	−0.065%	$74K	$721K	25x	as long as short
Variational Omni TRUMP	−0.0021%	4h	2.1561	−0.078%	$666K	$488K	—	as long as short
edgeX TRUMPUSDC	−0.0012%	4h	2.1471	−0.497%	$105K	$264K	20x	as long as short
dYdX TRUMP-USD	−0.0002%	1h	2.1566	−0.056%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1586	+0.037%	$406K	$72K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1585	+0.031%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0016%	1h	2.1572	−0.028%	$954K	$958K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0037%	8h	2.1567	−0.052%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0043%	4h	2.1570	−0.037%	$4K	$187K	10x	as long as short
Aevo TRUMP-PERP	+0.0072%	1h	2.1570	−0.037%	$19K	—	3x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1578	long leg	$13.7M	$7.9M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1594	+0.076%	$423K	$793K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1581	+0.012%	$186K	$52K	10x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1550	−0.130%	$30.5M	$49.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1580	+0.009%	$27.4M	$174.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1560	−0.083%	$405K	$152K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1590	+0.056%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1580	+0.009%	$15.6M	$25.7M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1593	+0.070%	$342K	$368K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1500	−0.361%	$183K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1600	+0.102%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	+0.009%	$504K	$2.2M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1586	+0.038%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0217%	4h	2.1580	+0.009%	$4.2M	$683K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1598	+0.091%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTXshort	+0.0472%	1h	2.1520	−0.269%	$278K	$276K	50x