Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.003%

Price spread now: Pacifica against Hyperliquid+0.083%7-day average −0.028% · you sell dearer than you buy

Net, funding: paid 7d − costs−$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$570.569% of the position

Long on Hyperliquid Short on Pacifica

What this pair did over the last

the charts below follow

Funding, last 7 days+0.196%+$20 on $10k

Price spread, last 4 days (all we have)−0.141%−$14 · spread now +0.083%, 7d avg −0.028%

Together, before fees+0.056%+ Points / potential airdropHyperliquid: Season 2 · Pacifica: Active · farm board+$6 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: Pacifica is 0.111% dearer against Hyperliquid than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1661	0.0100	pay 0.0013% / 1h	5m 30s	$13.7M	$7.6M	10x
Short	Pacifica TRUMP	2.1679	0.0100	get 0.0013% / 1h	5m 30s	$186K	$54K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Pacifica 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 PacificabpOrdersPrice spread, now +0.083%Rate

Funding earned: $0
Price spread: +0.083% → −0.028%: $11.12
Slippage, 4 orders: −$39.87
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Pacifica: 4 bp × 2 orders: −$8
Net: −$45.75
Costs to cover: 0.569%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Pacifica: live order book, 45 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 Hyperliquid live order book, 10 min ago	0.93 bp	8.9 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Pacifica live order book, 45 min ago	7.22 bp	21.3 bp −$21	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
Injective TRUMP/USDC PERP	−0.1841%	1h	2.1600	−0.282%	$13K	$157K	12x	as long as short
Variational Omni TRUMP	−0.0357%	4h	2.1610	−0.236%	$670K	$402K	—	as long as short
Bybit TRUMPUSDT	−0.0315%	4h	2.1660	−0.005%	$31.6M	$48.9M	50x	as long as short
OKX TRUMP-USDT-SWAP	−0.0314%	4h	2.1640	−0.097%	$27.5M	$175.6M	50x	as long as short
Extended TRUMP-USD	−0.0304%	1h	2.1648	−0.059%	$75K	$496K	25x	as long as short
Binance TRUMPUSDT	−0.0301%	4h	2.1668	+0.030%	$63.7M	$239.5M	75x	as long as short
SoDEX TRUMP-USD	−0.0284%	1h	2.1625	−0.166%	$69	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1580	−0.375%	$5	—	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0240%	1h	2.1520	−0.651%	$132K	$517K	50x	as long as short
Gate TRUMP_USDT	−0.0220%	4h	2.1660	−0.005%	$7.8M	$48.6M	75x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0208%	1h	2.1660	−0.005%	$935K	$982K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0186%	8h	2.1659	−0.008%	$5K	$175	5x	as long as short
edgeX TRUMPUSDC	−0.0150%	4h	2.1572	−0.412%	$105K	$254K	20x	as long as short
KuCoin TRUMPUSDTM	−0.0124%	4h	2.1650	−0.051%	$4.3M	$10.2M	50x	as long as short
MEXC TRUMP_USDC	−0.0120%	4h	2.1630	−0.143%	$394K	$152K	125x	as long as short
Orderly PERP_TRUMP_USDC	−0.0077%	4h	2.1590	−0.328%	$5K	$309K	10x	as long as short
BloFin TRUMP-USDT	−0.0060%	4h	2.1630	−0.143%	$4.3M	$678K	75x	as long as short
Bitget TRUMPUSDT	−0.0012%	4h	2.1670	+0.042%	$15.5M	$25.4M	75x	as long as short
dYdX TRUMP-USD	−0.0007%	1h	2.1595	−0.305%	$26K	$3K	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1631	−0.138%	$388K	$80K	10x	as long as short
Aevo TRUMP-PERP	+0.0008%	1h	2.1615	−0.210%	$19K	—	3x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1634	−0.126%	$41K	—	150x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0015%	1h	2.1659	−0.011%	$1.3M	$2.0M	50x	as long as short
GRVT TRUMP_USDT_Perp	+0.0048%	4h	2.1624	−0.172%	$172K	$4.1M	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1661	long leg	$13.7M	$7.6M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1672	+0.049%	$408K	$643K	20x	as long as short
Pacifica TRUMPshort	+0.0100%	1h	2.1679	+0.083%	$186K	$54K	10x
SunX TRUMP-USDT	+0.0100%	4h	2.1630	−0.143%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1650	−0.051%	$497K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1640	−0.097%	$114K	$288K	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0191% / S −0.0186%	1h	2.1636	−0.116%	$11K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0265%	1h	2.1659	−0.009%	$383K	$400K	10x	as long as short