Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: OKX against Hyperliquid−0.113%7-day average −0.039% · you buy dearer than you sell

Net, funding: paid 7d − costs−$25as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$350.352% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.102%+$10 on $10k

Price spread, last 7 days+0.094%+$9 · spread now −0.113%, 7d avg −0.039%

Together, before fees+0.195%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 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: OKX is 0.074% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.039%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.2095	0.0100	pay 0.0013% / 1h	25m 36s	$14.4M	$7.2M	10x
Short	OKX TRUMP-USDT-SWAP	2.2070	0.0100	get 0.0050% / 4h	2h 25m	$29.0M	$170.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.113%Rate

Funding earned: $0
Price spread: −0.113% → −0.039%: −$7.43
Slippage, 4 orders: −$16.19
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$42.62
Costs to cover: 0.352%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; OKX: live order book, 3 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, 7 min ago	0.90 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.27 bp	7.3 bp −$7	13.1 bp −$131	40.6 bp −$4,056	doesn't fit

TRUMP on 30 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	−0.1623%	1h	2.1880	−0.973%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2087	−0.038%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0058%	4h	2.2070	−0.113%	$7.8M	$49.1M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	−0.175%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2106	+0.050%	$416K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2104	+0.042%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2002	−0.421%	$107K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0073%	8h	2.2068	−0.120%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.2100	+0.023%	$4K	$240K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2060	−0.158%	$981K	$790K	10x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRUMPlong	+0.0100%	1h	2.2095	long leg	$14.4M	$7.2M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.2088	−0.034%	$437K	$861K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2055	−0.180%	$190K	$57K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2060	−0.158%	$64.1M	$236.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2060	−0.158%	$31.7M	$48.4M	50x	as long as short
OKX TRUMP-USDT-SWAPshort	+0.0100%	4h	2.2070	−0.113%	$29.0M	$170.8M	50x
MEXC TRUMP_USDC	+0.0100%	4h	2.2050	−0.204%	$439K	$146K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2090	−0.023%	$4.1M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2070	−0.113%	$15.8M	$24.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2081	−0.062%	$696K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2006	−0.401%	$181K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2120	+0.113%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2095	0.000%	$78	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2150	+0.249%	$554K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2059	−0.163%	$76K	$597K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2090	−0.023%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2102	+0.032%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0302%	1h	2.2125	+0.136%	$259K	$319K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0510%	1h	2.2122	+0.123%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2190	+0.430%	$288K	$307K	50x	as long as short