Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0050%/8h= +5.5% APRpaid last 24h +0.017%

Price spread now: Hyperliquid against edgeX+0.319%46s7-day average +0.052% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as 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−$400.405% of the position

Long on edgeX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 3 days (all we have)−0.380%−$38 · spread now +0.319%, 7d avg +0.052%

Together, before fees−0.373%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$37 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 0.268% dearer against edgeX than usual: you sell high and buy low: +$27 more if the spread goes back to its 7-day average of +0.052%. The two prices were read 46 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	edgeX TRUMPUSDC	2.1857	0.0050	pay 0.0025% / 4h	1h 48m	$119K	$248K	20x
Short	Hyperliquid TRUMP	2.1927	0.0100	get 0.0013% / 1h	48m 45s	$14.1M	$7.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against edgeX. 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 edgeXbpFee HyperliquidbpOrdersPrice spread, now +0.319%Rate

Funding earned: $10.5
Price spread: +0.319% → +0.052%: $26.76
Slippage, 4 orders: −$22.48
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$3.22
Costs to cover: 0.405%
Break-even: 9.1 days

Slippage from edgeX: live order book, 34 min ago; Hyperliquid: live order book, 4 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 edgeX live order book, 34 min ago	6.86 bp	14.3 bp −$14	38.9 bp −$389	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.23 bp	4.7 bp −$5	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	−0.1472%	1h	2.1740	−0.536%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1864	+0.029%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1908	+0.232%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1871	+0.063%	$410K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1868	+0.049%	$41K	—	150x	as long as short
edgeX TRUMPUSDClong	+0.0050%	4h	2.1857	long leg	$119K	$248K	20x
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1860	+0.013%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0087%	8h	2.1853	−0.020%	$5K	—	5x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1912	+0.251%	$976K	$670K	10x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1927	+0.319%	$14.1M	$7.4M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.1915	+0.264%	$457K	$831K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1922	+0.296%	$189K	$59K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1920	+0.287%	$62.4M	$217.3M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1920	+0.287%	$30.7M	$42.7M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1910	+0.242%	$26.8M	$149.0M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1900	+0.196%	$7.3M	$46.8M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1900	+0.196%	$481K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1890	+0.150%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1910	+0.242%	$15.5M	$20.6M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1863	+0.027%	$683K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1860	+0.013%	$182K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1890	+0.150%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1875	+0.081%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1890	+0.150%	$516K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1882	+0.112%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1865	+0.036%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1865	+0.034%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0244%	1h	2.1897	+0.182%	$259K	$268K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1870	+0.059%	$4.2M	$519K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	+0.013%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1903	+0.210%	$1.3M	$2.4M	50x	as long as short