Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0180%/8h= +19.7% APRpaid last 24h +0.017%

Price spread now: Hyperliquid against edgeX+0.543%66s7-day average +0.050% · you sell dearer than you buy

Net, funding: paid 7d − costs−$41as 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−$420.420% 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)−0.625%−$62 · spread now +0.543%, 7d avg +0.050%

Together, before fees−0.618%+ Points / potential airdropedgeX: Active · Hyperliquid: Season 2 · farm board−$62 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$5 a day on $10k at the current rate, and Hyperliquid is 0.493% dearer against edgeX than usual: you sell high and buy low: +$49 more if the spread goes back to its 7-day average of +0.050%. The two prices were read 66 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	2.1763	0.0050	pay 0.0025% / 4h	1h 58m	$118K	$248K	20x
Short	Hyperliquid TRUMP	2.1881	0.0230	get 0.0029% / 1h	58m 30s	$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 +0.543%Rate

Funding earned: $37.78
Price spread: +0.543% → +0.050%: $49.29
Slippage, 4 orders: −$23.97
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $45.1
Costs to cover: 0.420%
Break-even: from the start

Slippage from edgeX: live order book, 24 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, 24 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	7.2 bp −$7	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	2.1670	−0.427%	$13K	$137K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1854	+0.416%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1888	+0.575%	$27K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1848	+0.391%	$410K	$79K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1837	+0.342%	$41K	—	150x	as long as short
edgeX TRUMPUSDClong	+0.0050%	4h	2.1763	long leg	$118K	$248K	20x
Paradex TRUMP-USD-PERP	+0.0085%	8h	2.1889	+0.581%	$5K	—	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0086%	4h	2.1830	+0.308%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1882	+0.547%	$974K	$665K	10x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.1900	+0.629%	$458K	$831K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.1900	+0.629%	$189K	$60K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1850	+0.400%	$62.2M	$216.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.1850	+0.400%	$30.5M	$42.6M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1850	+0.400%	$26.8M	$148.1M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.1890	+0.584%	$7.4M	$46.4M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1880	+0.538%	$481K	$131K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1910	+0.676%	$4.7M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1860	+0.446%	$15.5M	$20.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1764	+0.006%	$679K	$261K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1767	+0.017%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1820	+0.262%	$1K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.1845	+0.377%	$70	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1880	+0.538%	$515K	$1.7M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1881	+0.545%	$75K	$471K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1830	+0.308%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1842	+0.362%	$10K	—	100x	as long as short
Hyperliquid TRUMPshort	+0.0230%	1h	2.1881	+0.543%	$14.1M	$7.4M	10x
BloFin TRUMP-USDT	+0.0340%	4h	2.1840	+0.354%	$4.2M	$519K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0472%	1h	2.1860	+0.446%	$281K	$399K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0522%	1h	2.1885	+0.563%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0535%	1h	2.1892	+0.593%	$262K	$266K	10x	as long as short