Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against SunX+0.259%7-day average −0.058% · you sell dearer than you buy

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1681.681% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 3 days (all we have)−0.306%−$31 · spread now +0.259%, 7d avg −0.058%

Together, before fees−0.517%+ Points / potential airdropHyperliquid: Season 2 · farm board−$52 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.317% dearer against SunX than usual: you sell high and buy low: +$32 more if the spread goes back to its 7-day average of −0.058%. Mind the row above: over the last 7 days funding on this pair cost −0.210%, 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	SunX TRUMP-USDT	2.2430	0.0100	pay 0.0050% / 4h	3h 16m	$2K	$1.5M	50x
Short	Hyperliquid TRUMP	2.2488	0.0152	get 0.0019% / 1h	16m 40s	$14.6M	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now +0.259%Rate

Funding earned: $11
Price spread: +0.259% → −0.058%: $31.7
Slippage, 4 orders: −$151.1
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$125.4
Costs to cover: 1.681%
Break-even: 86.8 days

Slippage from SunX: live order book, 8 min ago; Hyperliquid: live order book, 6 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 SunX live order book, 8 min ago	31.52 bp	61.1 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.45 bp	7.3 bp −$7	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	−0.1608%	1h	2.2270	−0.713%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2407	−0.104%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2453	+0.103%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2414	−0.071%	$420K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2415	−0.066%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2242	−0.837%	$121K	$250K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0095%	8h	2.2490	+0.266%	$5K	$175	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2457	+0.120%	$996K	$779K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0097%	4h	2.2400	−0.134%	$3K	$249K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2480	+0.223%	$469K	$837K	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	2.2476	+0.205%	$195K	$54K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2496	+0.295%	$64.4M	$224.5M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2490	+0.267%	$31.8M	$45.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2500	+0.312%	$28.4M	$160.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2480	+0.223%	$7.9M	$48.0M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2470	+0.178%	$487K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2470	+0.178%	$4.5M	$10.6M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2490	+0.267%	$16.4M	$22.3M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2281	−0.663%	$713K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2240	−0.847%	$190K	$4.5M	10x	as long as short
SunX TRUMP-USDTlong	+0.0100%	4h	2.2430	long leg	$2K	$1.5M	50x
SoDEX TRUMP-USD	+0.0100%	1h	2.2399	−0.138%	$80	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2450	+0.089%	$566K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2470	+0.180%	$80K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2390	−0.178%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0152%	1h	2.2488	+0.259%	$14.6M	$6.6M	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2409	−0.092%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2390	−0.178%	$4.2M	$659K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0477%	1h	2.2462	+0.143%	$285K	$289K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2410	−0.089%	$293K	$258K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0768%	1h	2.2433	+0.012%	$1.3M	$2.6M	50x	as long as short