TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1790%/8h= +196.0% APRnext payment +$2.24 per $10,000 · paid last 24h +0.522%

Price spread now: Hyperliquid against Injective+0.256%73s7-day average +0.091% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1151.146% of the position

Long on Injective Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.381%+$38 on $10k

Price spread, last 4 days (all we have)+0.335%+$34 · spread now +0.256%, 7d avg +0.091%

Together, before fees+0.716%+ Points / potential airdropHyperliquid: Season 2 · farm board+$72 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$54 a day on $10k at the current rate, and Hyperliquid is 0.165% dearer against Injective than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.091%. The two prices were read 73 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.381% in total (about 19.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$2.24 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective TRUMP/USDC PERP	2.1470	−0.1690	get 0.0211% / 1h	52m 01s	$13K	$157K	12x
Short	Hyperliquid TRUMP	2.1525	0.0100	get 0.0013% / 1h	52m 01s	$14.2M	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Injective. 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 InjectivebpFee HyperliquidbpOrdersPrice spread, now +0.256%Rate

Funding earned: $375.8
Price spread: +0.256% → +0.091%: $16.55
Slippage, 4 orders: −$105.57
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $277.76
Costs to cover: 1.146%
Break-even: 1.8 days

Slippage from Injective: live order book, 57 min ago; Hyperliquid: live order book, 11 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 Injective live order book, 57 min ago	48.42 bp	48.4 bp −$48	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	2.78 bp	10.0 bp −$10	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 PERPlong	−0.1690%	1h	2.1470	long leg	$13K	$157K	12x
SoDEX TRUMP-USD	−0.0384%	1h	2.1495	+0.116%	$87	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1522	+0.240%	$5	—	10x	as long as short
Lighter TRUMP	−0.0216%	1h	2.1500	+0.140%	$951K	$933K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0122%	1h	2.1516	+0.214%	$405K	$72K	10x	as long as short
Gate TRUMP_USDT	−0.0092%	4h	2.1510	+0.186%	$7.6M	$50.3M	75x	as long as short
Bybit TRUMPUSDT	−0.0018%	4h	2.1500	+0.140%	$30.5M	$49.2M	50x	as long as short
Variational Omni TRUMP	−0.0012%	4h	2.1601	+0.612%	$660K	$482K	—	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1586	+0.541%	$27K	$512	5x	as long as short
Paradex TRUMP-USD-PERP	+0.0004%	8h	2.1525	+0.256%	$5K	$175	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1528	+0.272%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0038%	4h	2.1561	+0.423%	$105K	$263K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0056%	4h	2.1510	+0.186%	$4K	$222K	10x	as long as short
Extended TRUMP-USD	+0.0064%	1h	2.1494	+0.113%	$74K	$745K	25x	as long as short
Binance TRUMPUSDT	+0.0067%	4h	2.1490	+0.094%	$60.6M	$241.5M	75x	as long as short
Aevo TRUMP-PERP	+0.0096%	1h	2.1510	+0.186%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1525	+0.256%	$14.2M	$7.3M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1534	+0.297%	$423K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1546	+0.355%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1500	+0.140%	$27.1M	$171.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1490	+0.093%	$412K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1520	+0.233%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1510	+0.186%	$15.5M	$25.8M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1523	+0.247%	$252K	$318K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1560	+0.419%	$176K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1530	+0.279%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1540	+0.326%	$499K	$2.1M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1528	+0.269%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1523	+0.246%	$1.3M	$2.2M	50x	as long as short
BloFin TRUMP-USDT	+0.0283%	4h	2.1600	+0.605%	$4.2M	$678K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1550	+0.373%	$279K	$281K	50x	as long as short