TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0689%/8h= +75.5% APRnext payment +$0.86 per $10,000 · paid last 24h −0.024%

Price spread now: Kraken Futures against Hyperliquid+0.006%50s7-day average +0.032% · you sell dearer than you buy

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$490.493% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.122%−$12 on $10k

Price spread, last 3 days (all we have)+0.029%+$3 · spread now +0.006%, 7d avg +0.032%

Together, before fees−0.093%+ Points / potential airdropHyperliquid: Season 2 · farm board−$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.026% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.006% now, against its 7-day average of +0.032%). If the spread goes back, that is −$3 on $10k: about 3 hours of funding at the current rate (+$21 a day). Mind the row above: over the last 7 days funding on this pair cost −0.122%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.122% in total (about -6.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.86 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	2.1835	0.0100	pay 0.0013% / 1h	56m 27s	$14.1M	$7.6M	10x
Short	Kraken Futures PF_TRUMPUSD	2.1836	0.0789	get 0.0099% / 1h	56m 27s	$1.3M	$2.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.006%Rate

Funding earned: $144.72
Price spread: +0.006% → +0.032%: −$2.61
Slippage, 4 orders: −$30.33
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $92.78
Costs to cover: 0.493%
Break-even: 2.5 days

Slippage from Hyperliquid: live order book, 6 min ago; Kraken Futures: live order book, 2 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	0.91 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	4.57 bp	15.7 bp −$16	30.5 bp −$305	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	2.1730	−0.481%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1772	−0.289%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1812	−0.105%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1816	−0.087%	$409K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1826	−0.040%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1848	+0.060%	$119K	$248K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1810	−0.114%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1821	−0.064%	$978K	$705K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1814	−0.095%	$5K	—	5x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1835	long leg	$14.1M	$7.6M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1813	−0.102%	$454K	$836K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1827	−0.035%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1820	−0.069%	$62.7M	$226.9M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1790	−0.206%	$30.5M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1780	−0.252%	$27.1M	$152.7M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1820	−0.069%	$7.4M	$46.5M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1790	−0.206%	$472K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1800	−0.160%	$4.2M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1790	−0.206%	$15.5M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	+0.124%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1888	+0.244%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1850	+0.069%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1809	−0.119%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1860	+0.114%	$553K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1811	−0.111%	$75K	$463K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1817	−0.082%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1831	−0.019%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1810	−0.114%	$4.2M	$631K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0392%	1h	2.1829	−0.027%	$255K	$284K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2060	+1.030%	$285K	$388K	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0789%	1h	2.1836	+0.006%	$1.3M	$2.5M	50x