TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC+0.0396%/8h= +43.4% APRnext payment +$0.50 per $10,000 · paid last 24h −0.061%

Price spread now: Hyperliquid against Coinbase International+0.172%7-day average −0.024% · you sell dearer than you buy

Net, funding: paid 7d − costs−$70as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$450.453% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.252%−$25 on $10k

Price spread, last 4 days (all we have)+0.010%+$1 · spread now +0.172%, 7d avg −0.024%

Together, before fees−0.242%+ Points / potential airdropHyperliquid: Season 2 · farm board−$24 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and Hyperliquid is 0.196% dearer against Coinbase International than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of −0.024%. Mind the row above: over the last 7 days funding on this pair cost −0.252%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.252% in total (about -13.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.50 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International TRUMP-PERP-INTX	2.1460	−0.0296	get 0.0037% / 1h	51m 08s	$131K	$515K	50x
Short	Hyperliquid TRUMP	2.1497	0.0100	get 0.0013% / 1h	51m 08s	$13.6M	$7.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. 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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now +0.172%Rate

Funding earned: $83.16
Price spread: +0.172% → −0.024%: $19.64
Slippage, 4 orders: −$26.32
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $57.48
Costs to cover: 0.453%
Break-even: 2.2 days

Slippage from Coinbase International: live order book, 60 min ago; Hyperliquid: live order book, 5 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 Coinbase International live order book, 60 min ago	6.99 bp	12.0 bp −$12	18.6 bp −$186	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	0.46 bp	9.1 bp −$9	doesn't fit	doesn't fit	doesn't fit

TRUMP on 32 exchanges

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
Variational Omni TRUMP	−0.0383%	4h	2.1569	+0.510%	$670K	$398K	—	as long as short
Bybit TRUMPUSDT	−0.0379%	4h	2.1480	+0.093%	$31.3M	$48.6M	50x	as long as short
SoDEX TRUMP-USD	−0.0374%	1h	2.1480	+0.093%	$73	$6K	5x	as long as short
OKX TRUMP-USDT-SWAP	−0.0337%	4h	2.1480	+0.093%	$27.2M	$173.2M	50x	as long as short
Extended TRUMP-USD	−0.0320%	1h	2.1468	+0.036%	$74K	$491K	25x	as long as short
Binance TRUMPUSDT	−0.0320%	4h	2.1483	+0.105%	$63.1M	$237.6M	75x	as long as short
Coinbase International TRUMP-PERP-INTXlong	−0.0296%	1h	2.1460	long leg	$131K	$515K	50x
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1470	+0.046%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0234%	4h	2.1480	+0.093%	$7.8M	$47.2M	75x	as long as short
Paradex TRUMP-USD-PERP	−0.0179%	8h	2.1468	+0.037%	$5K	$175	5x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Deribit TRUMP_USDC-PERPETUAL	−0.0169%	1h	2.1484	+0.112%	$386K	$78K	10x	as long as short
edgeX TRUMPUSDC	−0.0156%	4h	2.1517	+0.267%	$105K	$253K	20x	as long as short
MEXC TRUMP_USDC	−0.0146%	4h	2.1460	0.000%	$388K	$142K	125x	as long as short
Lighter TRUMP	−0.0144%	1h	2.1481	+0.098%	$924K	$952K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0124%	4h	2.1480	+0.093%	$4.2M	$10.2M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0084%	4h	2.1470	+0.047%	$5K	$303K	10x	as long as short
BloFin TRUMP-USDT	−0.0076%	4h	2.1480	+0.093%	$4.3M	$675K	75x	as long as short
Bitget TRUMPUSDT	−0.0020%	4h	2.1480	+0.093%	$15.4M	$25.1M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1495	+0.163%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	0.0000%	1h	2.1455	−0.023%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1537	+0.359%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0023%	1h	2.1511	+0.238%	$1.3M	$2.0M	50x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1600	+0.652%	$13K	$157K	12x	as long as short
GRVT TRUMP_USDT_Perp	+0.0036%	4h	2.1520	+0.280%	$177K	$4.1M	10x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1497	+0.172%	$13.6M	$7.6M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1480	+0.096%	$405K	$644K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1468	+0.038%	$185K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	+0.186%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	+0.186%	$498K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1500	+0.186%	$149K	$358K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0177%	1h	2.1514	+0.252%	$381K	$395K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0195% / S −0.0191%	1h	2.1499	+0.180%	$11K	—	100x	as long as short