Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0034%/8h= −3.7% APRpaid last 24h −0.001%

Price spread now: SunX against Hyperliquid−0.009%7-day average +0.063% · you buy dearer than you sell

Net, funding: paid 7d − costs−$150as in the Funding arb table

Net, price: spread back to 7d avg − costs−$178as in the Price arb table

costs, in and out, $10k−$1711.712% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.212%+$21 on $10k

Price spread, last 3 days (all we have)−0.031%−$3 · spread now −0.009%, 7d avg +0.063%

Together, before fees+0.181%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and SunX is 0.072% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of +0.063%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.212%, 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	2.1812	0.0134	pay 0.0017% / 1h	28m 10s	$14.1M	$7.4M	10x
Short	SunX TRUMP-USDT	2.1810	0.0100	get 0.0050% / 4h	2h 28m	$2K	$1.5M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.009%Rate

Funding earned: −$7.17
Price spread: −0.009% → +0.063%: −$7.21
Slippage, 4 orders: −$154.2
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$185.58
Costs to cover: 1.712%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; SunX: live order book, 7 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, 5 min ago	0.92 bp	7.5 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	32.05 bp	92.7 bp −$93	doesn't fit	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	−0.1787%	1h	2.1640	−0.789%	$13K	$119K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1784	−0.127%	$5	—	10x	as long as short
Kraken Futures PF_TRUMPUSD	−0.0131%	1h	2.1799	−0.060%	$1.0M	$2.1M	50x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1797	−0.069%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1794	−0.083%	$409K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1796	−0.072%	$41K	—	150x	as long as short
Lighter TRUMP	+0.0016%	1h	2.1777	−0.160%	$970K	$658K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1735	−0.352%	$118K	$248K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0073%	8h	2.1783	−0.131%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1780	−0.147%	$3K	$249K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1793	−0.085%	$457K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1793	−0.087%	$188K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1809	−0.015%	$62.1M	$215.4M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1810	−0.009%	$30.4M	$42.1M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1800	−0.055%	$26.6M	$147.2M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1780	−0.147%	$7.4M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1780	−0.147%	$478K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1790	−0.101%	$4.7M	$10.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1800	−0.055%	$15.5M	$20.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1734	−0.358%	$678K	$262K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1745	−0.309%	$186K	$4.6M	10x	as long as short
SunX TRUMP-USDTshort	+0.0100%	4h	2.1810	−0.009%	$2K	$1.5M	50x
SoDEX TRUMP-USD	+0.0100%	1h	2.1786	−0.119%	$71	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1810	−0.009%	$511K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1783	−0.135%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1775	−0.170%	$19K	—	3x	as long as short
Hyperliquid TRUMPlong	+0.0134%	1h	2.1812	long leg	$14.1M	$7.4M	10x
Backpack TRUMP_USDC_PERP	+0.0180%	1h	2.1818	+0.028%	$261K	$260K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1792	−0.091%	$10K	—	100x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0288%	1h	2.1830	+0.083%	$280K	$398K	50x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1740	−0.330%	$4.1M	$493K	75x	as long as short