Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: HTX against Hyperliquid−0.181%7-day average +0.050% · 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−$79as in the Price arb table

costs, in and out, $10k−$560.556% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now −0.181%, 7d avg +0.050%

Together, before fees+0.278%+ Points / potential airdropHyperliquid: Season 2 · farm board+$28 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: HTX is 0.231% cheaper against Hyperliquid than usual: you would sell low and buy high, −$23 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1549	0.0100	pay 0.0013% / 1h	52m 55s	$13.6M	$8.0M	10x
Short	HTX TRUMP-USDT	2.1510	0.0100	get 0.0050% / 4h	2h 52m	$489K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 HTXbpOrdersPrice spread, now −0.181%Rate

Funding earned: $0
Price spread: −0.181% → +0.050%: −$23.08
Slippage, 4 orders: −$34.57
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$78.65
Costs to cover: 0.556%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; HTX: 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	1.63 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 1 min ago	9.29 bp	23.6 bp −$24	48.2 bp −$482	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	−0.1827%	1h	2.1390	−0.738%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0479%	1h	2.1525	−0.111%	$87	$6K	5x	as long as short
Lighter TRUMP	−0.0416%	1h	2.1517	−0.148%	$951K	$994K	10x	as long as short
Bybit TRUMPUSDT	−0.0264%	4h	2.1540	−0.042%	$30.6M	$50.9M	50x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0261%	1h	2.1530	−0.088%	$405K	$72K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1512	−0.174%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0234%	8h	2.1496	−0.246%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0200%	4h	2.1550	+0.005%	$7.7M	$52.2M	75x	as long as short
Binance TRUMPUSDT	−0.0195%	4h	2.1540	−0.044%	$60.8M	$246.7M	75x	as long as short
Extended TRUMP-USD	−0.0192%	1h	2.1529	−0.092%	$74K	$718K	25x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0092%	4h	2.1499	−0.231%	$105K	$264K	20x	as long as short
Variational Omni TRUMP	−0.0086%	4h	2.1551	+0.010%	$665K	$437K	—	as long as short
dYdX TRUMP-USD	−0.0054%	1h	2.1526	−0.105%	$27K	$508	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0017%	4h	2.1520	−0.135%	$5K	$208K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0012%	4h	2.1550	+0.006%	$180K	$4.7M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1535	−0.067%	$41K	—	150x	as long as short
OKX TRUMP-USDT-SWAP	+0.0020%	4h	2.1530	−0.088%	$27.4M	$179.3M	50x	as long as short
Aevo TRUMP-PERP	+0.0032%	1h	2.1507	−0.193%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0045%	4h	2.1540	−0.042%	$4.2M	$648K	75x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1549	long leg	$13.6M	$8.0M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1550	+0.005%	$405K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1523	−0.121%	$185K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1530	−0.088%	$401K	$147K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1540	−0.042%	$4.2M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1540	−0.042%	$15.5M	$26.3M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1540	−0.042%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1510	−0.181%	$489K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1540	−0.041%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0197%	1h	2.1551	+0.007%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0357%	1h	2.1567	+0.084%	$382K	$404K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1540	−0.042%	$286K	$304K	50x	as long as short