Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0124%/8h= +13.6% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against OKX+0.110%7-day average +0.036% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$310.309% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.103%−$10 on $10k

Price spread, last 7 days−0.093%−$9 · spread now +0.110%, 7d avg +0.036%

Together, before fees−0.196%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$4 a day on $10k at the current rate, and Hyperliquid is 0.073% dearer against OKX than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.036%. Mind the row above: over the last 7 days funding on this pair cost −0.103%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRUMP-USDT-SWAP	2.1890	0.0100	pay 0.0050% / 4h	0m 24s	$27.2M	$153.4M	50x
Short	Hyperliquid TRUMP	2.1914	0.0224	get 0.0028% / 1h	0m 24s	$14.2M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.110%Rate

Funding earned: $26.08
Price spread: +0.110% → +0.036%: $7.33
Slippage, 4 orders: −$11.91
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $2.49
Costs to cover: 0.309%
Break-even: 6.3 days

Slippage from OKX: live order book, 4 min ago; Hyperliquid: live order book, 2 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 OKX live order book, 4 min ago	2.29 bp	7.3 bp −$7	13.2 bp −$132	51.1 bp −$5,110	doesn't fit
Sell Hyperliquid live order book, 2 min ago	0.91 bp	8.8 bp −$9	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	−0.1537%	1h	2.1760	−0.594%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1882	−0.037%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1897	+0.032%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1901	+0.050%	$411K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1892	+0.007%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1872	−0.082%	$119K	$250K	20x	as long as short
Orderly PERP_TRUMP_USDC	+0.0095%	4h	2.1890	0.000%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1892	+0.009%	$981K	$741K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.1891	+0.004%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1896	+0.029%	$455K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1900	+0.045%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1881	−0.039%	$62.9M	$227.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1890	0.000%	$30.7M	$44.8M	50x	as long as short
OKX TRUMP-USDT-SWAPlong	+0.0100%	4h	2.1890	long leg	$27.2M	$153.4M	50x
Gate TRUMP_USDT	+0.0100%	4h	2.1880	−0.046%	$7.4M	$48.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	−0.091%	$474K	$135K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	0.000%	$4.3M	$10.3M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	0.000%	$15.5M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1862	−0.128%	$638K	$377K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1885	−0.024%	$187K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	+0.091%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1895	+0.023%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1920	+0.137%	$554K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1891	+0.003%	$75K	$467K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.046%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1891	+0.005%	$10K	—	100x	as long as short
Hyperliquid TRUMPshort	+0.0224%	1h	2.1914	+0.110%	$14.2M	$7.6M	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.1900	+0.046%	$4.2M	$633K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0424%	1h	2.2060	+0.777%	$285K	$388K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0472%	1h	2.1922	+0.146%	$256K	$283K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0872%	1h	2.1922	+0.146%	$1.3M	$2.5M	50x	as long as short