Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.003%

Price spread now: HTX against Hyperliquid+0.203%48s7-day average +0.047% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as 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−$560.561% of the position

Long on Hyperliquid Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.204%+$20 on $10k

Price spread, last 4 days (all we have)−0.244%−$24 · spread now +0.203%, 7d avg +0.047%

Together, before fees−0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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: HTX is 0.156% dearer against Hyperliquid than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.047%. The two prices were read 48 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	Hyperliquid TRUMP	2.1267	0.0100	pay 0.0013% / 1h	23m 31s	$13.4M	$8.0M	10x
Short	HTX TRUMP-USDT	2.1310	0.0100	get 0.0050% / 4h	2h 23m	$478K	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Hyperliquid. 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 HyperliquidbpFee HTXbpOrdersPrice spread, now +0.203%Rate

Funding earned: $0
Price spread: +0.203% → +0.047%: $15.64
Slippage, 4 orders: −$35.05
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee HTX: 6 bp × 2 orders: −$12
Net: −$40.42
Costs to cover: 0.561%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; HTX: live order book, just now.

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 Hyperliquid live order book, 9 min ago	1.65 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, just now	9.40 bp	21.7 bp −$22	47.8 bp −$478	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	−0.1827%	1h	2.1090	−0.831%	$12K	$157K	12x	as long as short
Lighter TRUMP	−0.0488%	1h	2.1258	−0.041%	$940K	$999K	10x	as long as short
SoDEX TRUMP-USD	−0.0413%	1h	2.1295	+0.133%	$84	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0342%	4h	2.1250	−0.079%	$30.0M	$51.6M	50x	as long as short
Binance TRUMPUSDT	−0.0274%	4h	2.1260	−0.032%	$59.9M	$249.8M	75x	as long as short
Extended TRUMP-USD	−0.0272%	1h	2.1249	−0.083%	$77K	$745K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1247	−0.095%	$5	—	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0224%	8h	2.1261	−0.026%	$5K	$175	5x	as long as short
Variational Omni TRUMP	−0.0202%	4h	2.1212	−0.260%	$654K	$426K	—	as long as short
Gate TRUMP_USDT	−0.0172%	4h	2.1270	+0.015%	$7.6M	$53.4M	75x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
edgeX TRUMPUSDC	−0.0135%	4h	2.1178	−0.416%	$103K	$263K	20x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0125%	1h	2.1318	+0.241%	$401K	$72K	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0070%	4h	2.1240	−0.126%	$26.6M	$179.7M	50x	as long as short
Orderly PERP_TRUMP_USDC	−0.0048%	4h	2.1290	+0.109%	$5K	$223K	10x	as long as short
GRVT TRUMP_USDT_Perp	−0.0034%	4h	2.1250	−0.080%	$173K	$4.6M	10x	as long as short
BloFin TRUMP-USDT	−0.0034%	4h	2.1280	+0.062%	$4.1M	$686K	75x	as long as short
dYdX TRUMP-USD	−0.0019%	1h	2.1289	+0.104%	$27K	$506	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1275	+0.037%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0016%	1h	2.1290	+0.109%	$18K	—	3x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1267	long leg	$13.4M	$8.0M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1266	−0.005%	$400K	$801K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1271	+0.018%	$183K	$52K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1260	−0.032%	$396K	$149K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1270	+0.015%	$4.1M	$11.2M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1270	+0.015%	$15.2M	$26.7M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1330	+0.297%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDTshort	+0.0100%	4h	2.1310	+0.203%	$478K	$2.4M	50x
GMX TRUMP/USD [ETH-USDC]	L +0.0137% / S −0.0099%	1h	2.1308	+0.194%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0172%	1h	2.1318	+0.241%	$379K	$411K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0199%	1h	2.1325	+0.273%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0392%	1h	2.1210	−0.267%	$241K	$341K	50x	as long as short