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% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Hyperliquid against Pacifica+0.376%54s7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as 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−$590.593% of the position

Long on Pacifica Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.206%−$21 on $10k

Price spread, last 4 days (all we have)−0.343%−$34 · spread now +0.376%, 7d avg +0.025%

Together, before fees−0.548%+ Points / potential airdropPacifica: Active · Hyperliquid: Season 2 · farm board−$55 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: Hyperliquid is 0.350% dearer against Pacifica than usual: you sell high and buy low, +$35 on $10k if it goes back to its 7-day average of +0.025%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TRUMP	2.1982	0.0100	pay 0.0013% / 1h	53m 47s	$191K	$55K	10x
Short	Hyperliquid TRUMP	2.2065	0.0100	get 0.0013% / 1h	53m 47s	$14.4M	$6.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Pacifica. 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 PacificabpFee HyperliquidbpOrdersPrice spread, now +0.376%Rate

Funding earned: $0
Price spread: +0.376% → +0.025%: $35.04
Slippage, 4 orders: −$42.3
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$24.26
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from Pacifica: live order book, 14 min ago; Hyperliquid: live order book, 9 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 Pacifica live order book, 14 min ago	10.70 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	2.70 bp	8.1 bp −$8	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	−0.1623%	1h	2.1860	−0.557%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1907	−0.344%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1986	+0.019%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1970	−0.056%	$413K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1935	−0.214%	$43K	—	150x	as long as short
SoDEX TRUMP-USD	+0.0023%	1h	2.2005	+0.103%	$84	$6K	5x	as long as short
Lighter TRUMP	+0.0048%	1h	2.2032	+0.226%	$979K	$779K	10x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2054	+0.324%	$107K	$262K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0078%	8h	2.1945	−0.169%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0089%	4h	2.1970	−0.056%	$3K	$246K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRUMPshort	+0.0100%	1h	2.2065	+0.376%	$14.4M	$6.7M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.2031	+0.223%	$437K	$862K	20x	as long as short
Pacifica TRUMPlong	+0.0100%	1h	2.1982	long leg	$191K	$55K	10x
Binance TRUMPUSDT	+0.0100%	4h	2.2080	+0.444%	$63.6M	$233.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2040	+0.262%	$31.2M	$47.2M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2040	+0.262%	$28.7M	$165.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2050	+0.308%	$7.7M	$47.7M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2040	+0.262%	$462K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2070	+0.399%	$4.1M	$10.9M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2050	+0.308%	$15.8M	$23.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1942	−0.186%	$693K	$446K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2003	+0.095%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1980	−0.011%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2060	+0.353%	$570K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2060	+0.352%	$78K	$595K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1970	−0.056%	$19K	—	3x	as long as short
Backpack TRUMP_USDC_PERP	+0.0159%	1h	2.2041	+0.267%	$261K	$314K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.1941	−0.188%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1950	−0.147%	$4.3M	$673K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0512%	1h	2.2036	+0.242%	$1.3M	$2.4M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.1950	−0.147%	$283K	$304K	50x	as long as short