Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Hyperliquid against Pacifica+0.117%7-day average +0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$80as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$590.593% of the position

Long on Pacifica Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.206%−$21 on $10k

Price spread, last 4 days (all we have)−0.098%−$10 · spread now +0.117%, 7d avg +0.026%

Together, before fees−0.304%+ Points / potential airdropPacifica: Active · Hyperliquid: Season 2 · farm board−$30 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: Hyperliquid is 0.091% dearer against Pacifica than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.026%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TRUMP	2.2257	0.0100	pay 0.0013% / 1h	43m 31s	$192K	$57K	10x
Short	Hyperliquid TRUMP	2.2283	0.0100	get 0.0013% / 1h	43m 31s	$14.9M	$6.9M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Pacifica. 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 PacificabpFee HyperliquidbpOrdersPrice spread, now +0.117%Rate

Funding earned: $0
Price spread: +0.117% → +0.026%: $9.1
Slippage, 4 orders: −$42.28
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$50.18
Costs to cover: 0.593%
Break-even: never at this rate

Slippage from Pacifica: live order book, 24 min ago; Hyperliquid: live order book, 9 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 Pacifica live order book, 24 min ago	10.70 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	2.25 bp	10.1 bp −$10	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	−0.1623%	1h	2.2050	−0.930%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2242	−0.069%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2273	+0.071%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2211	−0.206%	$418K	$80K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2264	+0.033%	$43K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2219	−0.168%	$108K	$263K	20x	as long as short
Lighter TRUMP	+0.0056%	1h	2.2230	−0.121%	$988K	$788K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0079%	8h	2.2258	+0.004%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0088%	4h	2.2210	−0.211%	$3K	$238K	10x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.2283	+0.117%	$14.9M	$6.9M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.2282	+0.113%	$440K	$860K	20x	as long as short
Pacifica TRUMPlong	+0.0100%	1h	2.2257	long leg	$192K	$57K	10x
Binance TRUMPUSDT	+0.0100%	4h	2.2256	−0.003%	$64.5M	$234.7M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2250	−0.031%	$31.7M	$47.8M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2240	−0.076%	$28.9M	$169.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2240	−0.076%	$7.9M	$48.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2260	+0.014%	$444K	$144K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2260	+0.014%	$4.1M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2260	+0.014%	$15.9M	$23.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2152	−0.474%	$699K	$448K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2190	−0.300%	$192K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2200	−0.256%	$2K	$1.6M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2225	−0.144%	$81	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2280	+0.104%	$578K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2239	−0.079%	$76K	$601K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2215	−0.189%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2189	−0.304%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0325%	1h	2.2267	+0.045%	$260K	$320K	10x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2230	−0.121%	$4.4M	$697K	75x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0508%	1h	2.2241	−0.071%	$1.3M	$2.3M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2100	−0.705%	$286K	$307K	50x	as long as short