Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0102%/8h= +11.2% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against Paradex−0.072%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Hyperliquid

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 airdropParadex: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 0.072% cheaper against Paradex than usual: you would sell low and buy high (spread −0.072% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 2.4 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TRUMP-USD-PERP	2.1493	−0.0002	get 0.0002% / 8h	4h 46m	$5K	$175	5x
Short	Hyperliquid TRUMP	2.1477	0.0100	get 0.0013% / 1h	46m 44s	$14.2M	$7.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Paradex. 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 ParadexbpFee HyperliquidbpOrdersPrice spread, now −0.072%Rate

Funding earned: $21.41
Price spread: −0.072% → 0.000%: −$7.22
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $1.19
Costs to cover: 0.130%
Break-even: 6.6 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 6 min ago. 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 Paradex no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 6 min ago	2.32 bp	8.6 bp −$9	doesn't fit	doesn't fit	doesn't fit

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 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	−0.1690%	1h	2.1340	−0.710%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0390%	1h	2.1445	−0.221%	$91	$6K	5x	as long as short
Lighter TRUMP	−0.0280%	1h	2.1466	−0.123%	$950K	$933K	10x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1457	−0.168%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0108%	4h	2.1480	−0.058%	$7.6M	$50.5M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0076%	1h	2.1461	−0.147%	$404K	$72K	10x	as long as short
Bybit TRUMPUSDT	−0.0042%	4h	2.1500	+0.035%	$30.5M	$49.3M	50x	as long as short
Variational Omni TRUMP	−0.0017%	4h	2.1481	−0.052%	$657K	$482K	—	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1496	+0.017%	$27K	$512	5x	as long as short
Paradex TRUMP-USD-PERPlong	−0.0002%	8h	2.1493	long leg	$5K	$175	5x

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	2.1474	−0.085%	$40K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0029%	4h	2.1407	−0.399%	$104K	$264K	20x	as long as short
Extended TRUMP-USD	+0.0040%	1h	2.1489	−0.014%	$74K	$745K	25x	as long as short
Binance TRUMPUSDT	+0.0040%	4h	2.1490	−0.012%	$60.5M	$241.7M	75x	as long as short
Orderly PERP_TRUMP_USDC	+0.0052%	4h	2.1450	−0.198%	$4K	$219K	10x	as long as short
Aevo TRUMP-PERP	+0.0088%	1h	2.1462	−0.144%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1477	−0.072%	$14.2M	$7.3M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1471	−0.099%	$422K	$826K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1481	−0.052%	$185K	$53K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1490	−0.012%	$27.1M	$171.9M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1470	−0.105%	$412K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1500	+0.035%	$4.3M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1500	+0.035%	$15.5M	$25.7M	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0100%	1h	2.1483	−0.044%	$252K	$319K	10x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1417	−0.351%	$171K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1470	−0.105%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1490	−0.012%	$498K	$2.1M	50x	as long as short
BloFin TRUMP-USDT	+0.0172%	4h	2.1440	−0.244%	$4.1M	$673K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1470	−0.104%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0221%	1h	2.1471	−0.100%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1550	+0.267%	$279K	$281K	50x	as long as short