Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0068%/8h= −7.4% APRpaid last 24h −0.003%

Price spread now: KuCoin against Hyperliquid−0.014%7-day average −0.023% · 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−$58as in the Price arb table

costs, in and out, $10k−$590.591% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days+0.037%+$4 · spread now −0.014%, 7d avg −0.023%

Together, before fees+0.090%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.023%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.053%, 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	2.1443	0.0100	pay 0.0013% / 1h	38m 12s	$13.6M	$8.1M	10x
Short	KuCoin TRUMPUSDTM	2.1440	0.0032	get 0.0016% / 4h	38m 12s	$4.1M	$10.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$14.28
Price spread: −0.014% → −0.023%: $0.89
Slippage, 4 orders: −$38.13
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$72.51
Costs to cover: 0.591%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; KuCoin: live order book, 10 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, 4 min ago	1.62 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 10 min ago	2.32 bp	19.6 bp −$20	89.9 bp −$899	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	−0.1797%	1h	2.1350	−0.434%	$12K	$157K	12x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0309%	1h	2.1448	+0.023%	$404K	$81K	10x	as long as short
SoDEX TRUMP-USD	−0.0291%	1h	2.1430	−0.061%	$80	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1436	−0.031%	$5	—	10x	as long as short
Lighter TRUMP	−0.0184%	1h	2.1419	−0.112%	$936K	$1.0M	10x	as long as short
Extended TRUMP-USD	−0.0168%	1h	2.1424	−0.087%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0166%	4h	2.1430	−0.061%	$60.7M	$250.8M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0158%	4h	2.1420	−0.107%	$26.6M	$183.8M	50x	as long as short
Variational Omni TRUMP	−0.0138%	4h	2.1531	+0.409%	$665K	$423K	—	as long as short
Bybit TRUMPUSDT	−0.0116%	4h	2.1420	−0.107%	$30.5M	$52.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0116%	4h	2.1430	−0.061%	$7.6M	$53.2M	75x	as long as short
edgeX TRUMPUSDC	−0.0081%	4h	2.1539	+0.447%	$105K	$252K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0075%	8h	2.1461	+0.085%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	−0.0054%	4h	2.1430	−0.061%	$5K	$269K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1476	+0.153%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1454	+0.053%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTMshort	+0.0032%	4h	2.1440	−0.014%	$4.1M	$10.9M	50x
Aevo TRUMP-PERP	+0.0040%	1h	2.1425	−0.084%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1540	+0.452%	$171K	$466K	50x	as long as short
BloFin TRUMP-USDT	+0.0074%	4h	2.1460	+0.079%	$4.1M	$703K	75x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1443	long leg	$13.6M	$8.1M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1446	+0.016%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1482	+0.182%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1420	−0.107%	$398K	$147K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1450	+0.033%	$15.2M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1540	+0.452%	$173K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1440	−0.014%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1450	+0.033%	$482K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1450	+0.031%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0305%	1h	2.1449	+0.028%	$383K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0599%	1h	2.1454	+0.051%	$1.3M	$2.3M	50x	as long as short