Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0051%/8h= −5.6% APRpaid last 24h −0.023%

Price spread now: GRVT against Hyperliquid−0.654%7-day average −0.040% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$113as in the Price arb table

costs, in and out, $10k−$520.517% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.039%−$4 on $10k

Price spread, last 7 days+0.705%+$71 · spread now −0.654%, 7d avg −0.040%

Together, before fees+0.666%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$67 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GRVT is 0.614% cheaper against Hyperliquid than usual: you would sell low and buy high (−$61 if the spread goes back to its 7-day average of −0.040%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.2598	0.0151	pay 0.0019% / 1h	15m 02s	$14.7M	$6.6M	10x
Short	GRVT TRUMP_USDT_Perp	2.2450	0.0100	get 0.0050% / 4h	3h 15m	$186K	$4.5M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.654%Rate

Funding earned: −$10.74
Price spread: −0.654% → −0.040%: −$61.4
Slippage, 4 orders: −$33.69
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$123.83
Costs to cover: 0.517%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; GRVT: 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, 8 min ago	0.45 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	6.75 bp	15.7 bp −$16	36.1 bp −$361	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	−0.1608%	1h	2.2420	−0.788%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2587	−0.051%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2566	−0.141%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2610	+0.053%	$424K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2596	−0.009%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2372	−0.999%	$109K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.2554	−0.195%	$5K	$175	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2598	0.000%	$1.0M	$779K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2590	−0.035%	$3K	$249K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2613	+0.067%	$472K	$837K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2558	−0.177%	$196K	$54K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2574	−0.105%	$64.6M	$225.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2570	−0.124%	$31.9M	$45.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2550	−0.212%	$28.6M	$160.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2580	−0.080%	$8.0M	$48.1M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2550	−0.212%	$486K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2590	−0.035%	$4.5M	$10.6M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2570	−0.124%	$16.4M	$22.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2462	−0.604%	$717K	$438K	—	as long as short
GRVT TRUMP_USDT_Perpshort	+0.0100%	4h	2.2450	−0.654%	$186K	$4.5M	10x
SunX TRUMP-USDT	+0.0100%	4h	2.2620	+0.097%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2595	−0.013%	$80	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2640	+0.186%	$569K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2550	−0.212%	$80K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2595	−0.013%	$20K	—	3x	as long as short
Hyperliquid TRUMPlong	+0.0151%	1h	2.2598	long leg	$14.7M	$6.6M	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2610	+0.053%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2620	+0.097%	$4.3M	$684K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0489%	1h	2.2606	+0.035%	$266K	$300K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2410	−0.832%	$293K	$251K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0762%	1h	2.2627	+0.129%	$1.3M	$2.6M	50x	as long as short