Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC−0.0222%/8h= −24.3% APRpaid last 24h −0.029%

Price spread now: Paradex against Hyperliquid−0.104%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Paradex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Paradex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Paradex is 0.104% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1558	0.0100	pay 0.0013% / 1h	10m 37s	$13.6M	$7.2M	10x
Short	Paradex TRUMP-USD-PERP	2.1536	−0.0122	pay 0.0122% / 8h	4h 10m	$5K	$175	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex 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 ParadexbpOrdersPrice spread, now −0.104%Rate

Funding earned: −$46.63
Price spread: −0.104% → 0.000%: −$10.42
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$70.06
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 5 min ago; Paradex: no order-book sample. Net counts fees only.

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, 5 min ago	0.69 bp	8.4 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Paradex no order-book sample	—	—	—	—	—

Paradex: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

TRUMP on 32 exchanges

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
Variational Omni TRUMP	−0.0390%	4h	2.1519	−0.181%	$669K	$398K	—	as long as short
Extended TRUMP-USD	−0.0344%	1h	2.1533	−0.118%	$74K	$472K	25x	as long as short
Bybit TRUMPUSDT	−0.0340%	4h	2.1540	−0.083%	$31.3M	$47.6M	50x	as long as short
Binance TRUMPUSDT	−0.0339%	4h	2.1550	−0.037%	$63.0M	$231.9M	75x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1560	+0.009%	$125K	$513K	50x	as long as short
MEXC TRUMP_USDC	−0.0318%	4h	2.1530	−0.130%	$390K	$145K	125x	as long as short
Lighter TRUMP	−0.0272%	1h	2.1536	−0.102%	$920K	$930K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0251%	4h	2.1530	−0.130%	$27.2M	$170.9M	50x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1534	−0.111%	$5	—	10x	as long as short
KuCoin TRUMPUSDTM	−0.0230%	4h	2.1540	−0.083%	$4.3M	$9.7M	50x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0174%	4h	2.1560	+0.008%	$105K	$252K	20x	as long as short
SoDEX TRUMP-USD	−0.0172%	1h	2.1545	−0.060%	$81	$6K	5x	as long as short
Gate TRUMP_USDT	−0.0168%	4h	2.1540	−0.083%	$7.7M	$46.7M	75x	as long as short
Paradex TRUMP-USD-PERPshort	−0.0122%	8h	2.1536	−0.104%	$5K	$175	5x
BloFin TRUMP-USDT	−0.0103%	4h	2.1550	−0.037%	$4.3M	$663K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0067%	4h	2.1530	−0.130%	$5K	$282K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0028%	1h	2.1548	−0.046%	$387K	$67K	10x	as long as short
Aevo TRUMP-PERP	−0.0008%	1h	2.1535	−0.107%	$19K	—	3x	as long as short
dYdX TRUMP-USD	−0.0006%	1h	2.1544	−0.067%	$25K	$3K	5x	as long as short
Bitget TRUMPUSDT	−0.0004%	4h	2.1540	−0.083%	$15.5M	$24.1M	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1547	−0.051%	$41K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1430	−0.594%	$12K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0050%	4h	2.1567	+0.043%	$176K	$3.9M	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1558	long leg	$13.6M	$7.2M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1542	−0.072%	$405K	$649K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1548	−0.048%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1560	+0.009%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1560	+0.009%	$485K	$2.5M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1510	−0.223%	$304K	$724K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0233% / S −0.0238%	1h	2.1548	−0.045%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0271%	1h	2.1567	+0.042%	$383K	$383K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0324%	1h	2.1587	+0.135%	$1.5M	$2.1M	50x	as long as short