Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0178%/8h= −19.5% APRpaid last 24h −0.005%

Price spread now: Gate against Hyperliquid−0.116%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$31as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$440.440% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.132%+$13 on $10k

Price spread, last 7 days+0.126%+$13 · spread now −0.116%, 7d avg −0.017%

Together, before fees+0.258%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Gate is 0.099% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.017%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.132%, 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	2.1615	0.0100	pay 0.0013% / 1h	52m 54s	$14.3M	$7.3M	10x
Short	Gate TRUMP_USDT	2.1590	−0.0078	pay 0.0039% / 4h	52m 54s	$7.6M	$50.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.116%Rate

Funding earned: −$37.38
Price spread: −0.116% → −0.017%: −$9.9
Slippage, 4 orders: −$19.99
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$91.27
Costs to cover: 0.440%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Gate: live order book, 1 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, 10 min ago	2.78 bp	7.8 bp −$8	16.7 bp −$167	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	2.32 bp	12.7 bp −$13	33.3 bp −$333	71.2 bp −$7,116	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	2.1470	−0.671%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0261%	1h	2.1585	−0.139%	$87	$6K	5x	as long as short
Lighter TRUMP	−0.0256%	1h	2.1578	−0.171%	$954K	$933K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1581	−0.156%	$5	—	10x	as long as short
Gate TRUMP_USDTshort	−0.0078%	4h	2.1590	−0.116%	$7.6M	$50.3M	75x
Variational Omni TRUMP	−0.0012%	4h	2.1601	−0.063%	$660K	$482K	—	as long as short
Bybit TRUMPUSDT	−0.0006%	4h	2.1570	−0.208%	$30.7M	$49.2M	50x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1586	−0.133%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1610	−0.023%	$407K	$72K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0007%	8h	2.1562	−0.246%	$5K	$175	5x	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	2.1604	−0.050%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0038%	4h	2.1561	−0.251%	$105K	$263K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0057%	4h	2.1590	−0.116%	$4K	$222K	10x	as long as short
Binance TRUMPUSDT	+0.0071%	4h	2.1570	−0.208%	$60.8M	$240.9M	75x	as long as short
Extended TRUMP-USD	+0.0072%	1h	2.1574	−0.189%	$74K	$745K	25x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1585	−0.139%	$19K	—	3x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1615	long leg	$14.3M	$7.3M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1610	−0.025%	$425K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1581	−0.157%	$186K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1570	−0.208%	$27.1M	$172.3M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1590	−0.116%	$414K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1600	−0.069%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1590	−0.116%	$15.6M	$25.8M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1620	+0.023%	$253K	$318K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1560	−0.255%	$176K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1610	−0.023%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1580	−0.162%	$500K	$2.1M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1598	−0.078%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0220%	1h	2.1614	−0.003%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0283%	4h	2.1600	−0.069%	$4.2M	$678K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1550	−0.301%	$279K	$281K	50x	as long as short