TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0156%/8h= −17.1% APRnext payment −$0.20 per $10,000 · paid last 24h −0.021%

Price spread now: Lighter against Hyperliquid−0.134%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$26as in the Funding arb table

Net, price: spread back to 7d avg − costs−$44as in the Price arb table

costs, in and out, $10k−$360.360% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.115%+$11 · spread now −0.134%, 7d avg −0.049%

Together, before fees+0.215%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$22 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 Lighter is 0.085% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.049%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.100%, 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	2.1706	0.0100	pay 0.0013% / 1h	39m 39s	$14.3M	$7.5M	10x
Short	Lighter TRUMP	2.1677	−0.0056	pay 0.0007% / 1h	39m 39s	$966K	$794K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.134%Rate

Funding earned: −$32.76
Price spread: −0.134% → −0.049%: −$8.5
Slippage, 4 orders: −$26.98
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$77.24
Costs to cover: 0.360%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Lighter: live order book, 21 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, 3 min ago	0.92 bp	11.5 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 21 min ago	1.60 bp	8.8 bp −$9	28.2 bp −$282	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	−0.1659%	1h	2.1660	−0.212%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	−0.068%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0114%	4h	2.1670	−0.166%	$7.6M	$49.5M	75x	as long as short
Lighter TRUMPshort	−0.0056%	1h	2.1677	−0.134%	$966K	$794K	10x
dYdX TRUMP-USD	0.0000%	1h	2.1686	−0.093%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1704	−0.009%	$408K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1704	−0.010%	$42K	—	150x	as long as short
SoDEX TRUMP-USD	+0.0018%	1h	2.1695	−0.051%	$83	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0037%	8h	2.1662	−0.201%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1692	−0.065%	$105K	$263K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0078%	4h	2.1690	−0.074%	$4K	$239K	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1706	long leg	$14.3M	$7.5M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1717	+0.052%	$429K	$827K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1682	−0.111%	$186K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1671	−0.160%	$62.8M	$236.1M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1660	−0.212%	$31.0M	$48.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1660	−0.212%	$27.6M	$168.9M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1680	−0.120%	$426K	$143K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1680	−0.120%	$4.2M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1660	−0.212%	$15.5M	$25.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1681	−0.116%	$681K	$453K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1810	+0.480%	$183K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1730	+0.111%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1750	+0.203%	$532K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1649	−0.262%	$115K	$702K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1685	−0.097%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0104%	1h	2.1722	+0.074%	$256K	$318K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1706	+0.001%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0289%	1h	2.1725	+0.087%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1700	−0.028%	$4.3M	$656K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0504%	1h	2.1710	+0.018%	$281K	$300K	50x	as long as short