Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC+0.0386%/8h= +42.3% APRpaid last 24h +0.018%

Price spread now: Hyperliquid against OKX+0.028%7-day average +0.045% · you sell dearer than you buy

Net, funding: paid 7d − costs−$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$310.308% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.073%−$7 on $10k

Price spread, last 7 days−0.001%$0 · spread now +0.028%, 7d avg +0.045%

Together, before fees−0.074%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.045%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.073%, 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 -0.073% in total (about -3.8% a year). A funding rate is set anew for every payment. 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	OKX TRUMP-USDT-SWAP	2.1440	−0.0286	get 0.0143% / 4h	45m 02s	$27.2M	$172.5M	50x
Short	Hyperliquid TRUMP	2.1446	0.0100	get 0.0013% / 1h	45m 02s	$13.6M	$7.4M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.028%Rate

Funding earned: $81.15
Price spread: +0.028% → +0.045%: −$1.72
Slippage, 4 orders: −$11.83
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $48.59
Costs to cover: 0.308%
Break-even: 2.8 days

Slippage from OKX: live order book, 2 min ago; Hyperliquid: live order book, 11 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 OKX live order book, 2 min ago	2.34 bp	7.3 bp −$7	9.9 bp −$99	29.9 bp −$2,990	doesn't fit
Sell Hyperliquid live order book, 11 min ago	1.40 bp	6.5 bp −$6	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
SoDEX TRUMP-USD	−0.0441%	1h	2.1418	−0.103%	$80	$6K	5x	as long as short
Extended TRUMP-USD	−0.0392%	1h	2.1428	−0.056%	$76K	$486K	25x	as long as short
Binance TRUMPUSDT	−0.0388%	4h	2.1440	0.000%	$62.7M	$235.4M	75x	as long as short
Variational Omni TRUMP	−0.0388%	4h	2.1350	−0.422%	$665K	$399K	—	as long as short
Bybit TRUMPUSDT	−0.0334%	4h	2.1440	0.000%	$31.2M	$48.0M	50x	as long as short
Lighter TRUMP	−0.0320%	1h	2.1425	−0.070%	$916K	$929K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0320%	1h	2.1270	−0.793%	$125K	$520K	50x	as long as short
OKX TRUMP-USDT-SWAPlong	−0.0286%	4h	2.1440	long leg	$27.2M	$172.5M	50x
MEXC TRUMP_USDC	−0.0286%	4h	2.1420	−0.093%	$388K	$142K	125x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1410	−0.142%	$5	—	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin TRUMPUSDTM	−0.0228%	4h	2.1430	−0.047%	$4.3M	$10.0M	50x	as long as short
Gate TRUMP_USDT	−0.0214%	4h	2.1420	−0.093%	$7.7M	$46.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0193%	4h	2.1316	−0.577%	$104K	$253K	20x	as long as short
Paradex TRUMP-USD-PERP	−0.0150%	8h	2.1387	−0.247%	$5K	$175	5x	as long as short
BloFin TRUMP-USDT	−0.0148%	4h	2.1420	−0.093%	$4.3M	$657K	75x	as long as short
Orderly PERP_TRUMP_USDC	−0.0089%	4h	2.1410	−0.140%	$5K	$291K	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0077%	1h	2.1430	−0.047%	$385K	$67K	10x	as long as short
Bitget TRUMPUSDT	−0.0032%	4h	2.1440	0.000%	$15.5M	$24.7M	75x	as long as short
dYdX TRUMP-USD	−0.0021%	1h	2.1414	−0.119%	$25K	$3K	5x	as long as short
Aevo TRUMP-PERP	−0.0016%	1h	2.1435	−0.025%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0004%	4h	2.1380	−0.280%	$169K	$4.0M	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1423	−0.080%	$40K	—	150x	as long as short
Injective TRUMP/USDC PERP	+0.0033%	1h	2.1350	−0.420%	$12K	$157K	12x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1446	+0.028%	$13.6M	$7.4M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1435	−0.024%	$404K	$647K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1394	−0.217%	$184K	$54K	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1440	0.000%	$2K	$1.4M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1440	0.000%	$476K	$2.4M	50x	as long as short
Phemex TRUMPUSDT	+0.0100%	4h	2.1420	−0.093%	$283K	$624K	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0191%	1h	2.1468	+0.131%	$383K	$388K	10x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0220% / S −0.0223%	1h	2.1427	−0.061%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0326%	1h	2.1461	+0.097%	$1.4M	$2.1M	50x	as long as short