TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h −0.032%

Price spread now: Deribit against Hyperliquid−0.119%7-day average −0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$410.412% of the position

Long on Hyperliquid Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.126%−$13 on $10k

Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.119%, 7d avg −0.008%

Together, before fees−0.110%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 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 Deribit is 0.111% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.008%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1885	0.0100	pay 0.0013% / 1h	37m 07s	$14.0M	$7.5M	10x
Short	Deribit TRUMP_USDC-PERPETUAL	2.1859	0	get 0.0000% / 1h	37m 07s	$410K	$79K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit 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 DeribitbpOrdersPrice spread, now −0.119%Rate

Funding earned: −$21
Price spread: −0.119% → −0.008%: −$11.1
Slippage, 4 orders: −$25.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: −$73.32
Costs to cover: 0.412%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Deribit: live order book, 47 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	0.23 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 47 min ago	5.71 bp	15.6 bp −$16	25.6 bp −$256	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	−0.1472%	1h	2.1810	−0.343%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1852	−0.151%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1907	+0.100%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUALshort	0.0000%	1h	2.1859	−0.119%	$410K	$79K	10x
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1867	−0.085%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1934	+0.225%	$120K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1860	−0.114%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0090%	8h	2.1871	−0.063%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1852	−0.151%	$972K	$671K	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1885	long leg	$14.0M	$7.5M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1871	−0.065%	$456K	$832K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1884	−0.005%	$188K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1864	−0.094%	$62.4M	$217.6M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1860	−0.114%	$30.6M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1860	−0.114%	$26.7M	$149.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1860	−0.114%	$7.3M	$47.0M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1850	−0.160%	$480K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1870	−0.069%	$4.5M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1870	−0.069%	$15.6M	$20.7M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1962	+0.354%	$685K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1922	+0.168%	$179K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1880	−0.023%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1858	−0.123%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	−0.023%	$524K	$1.8M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1856	−0.131%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1849	−0.166%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1863	−0.102%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0317%	1h	2.1878	−0.032%	$260K	$269K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1870	−0.069%	$4.2M	$515K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	−0.114%	$281K	$398K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1885	−0.001%	$1.3M	$2.5M	50x	as long as short