Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +11.0% APRpaid last 24h +0.003%

Price spread now: Hyperliquid against HTX+0.036%7-day average −0.051% · you sell dearer than you buy

Net, funding: paid 7d − costs−$77as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$560.561% of the position

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.210%−$21 on $10k

Price spread, last 3 days (all we have)−0.008%−$1 · spread now +0.036%, 7d avg −0.051%

Together, before fees−0.218%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.087% dearer against HTX than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.051%. Mind the row above: over the last 7 days funding on this pair cost −0.210%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TRUMP-USDT	2.2070	0.0100	pay 0.0050% / 4h	3h 33m	$557K	$1.9M	50x
Short	Hyperliquid TRUMP	2.2078	0.0200	get 0.0025% / 1h	33m 35s	$14.2M	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. 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 HTXbpFee HyperliquidbpOrdersPrice spread, now +0.036%Rate

Funding earned: $21.05
Price spread: +0.036% → −0.051%: $8.73
Slippage, 4 orders: −$35.14
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$26.36
Costs to cover: 0.561%
Break-even: 15.8 days

Slippage from HTX: live order book, 5 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 HTX live order book, 5 min ago	9.15 bp	18.2 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.14 bp	6.9 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	−0.1608%	1h	2.1900	−0.770%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2012	−0.264%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2056	−0.061%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2022	−0.217%	$413K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2016	−0.245%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1969	−0.458%	$120K	$250K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2079	+0.041%	$984K	$766K	10x	as long as short
Orderly PERP_TRUMP_USDC	+0.0096%	4h	2.2010	−0.272%	$3K	$249K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2071	+0.003%	$5K	—	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2069	−0.006%	$459K	$836K	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	2.2086	+0.073%	$190K	$58K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2060	−0.045%	$63.1M	$222.0M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2060	−0.045%	$30.9M	$44.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2060	−0.045%	$27.2M	$153.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2080	+0.045%	$7.6M	$47.1M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2060	−0.045%	$478K	$132K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2070	0.000%	$4.2M	$10.4M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2070	0.000%	$15.9M	$21.9M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1972	−0.446%	$706K	$443K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1990	−0.364%	$180K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2030	−0.181%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2030	−0.181%	$74	$6K	5x	as long as short
HTX TRUMP-USDTlong	+0.0100%	4h	2.2070	long leg	$557K	$1.9M	50x
Extended TRUMP-USD	+0.0104%	1h	2.2071	+0.002%	$76K	$612K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2007	−0.284%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0200%	1h	2.2078	+0.036%	$14.2M	$6.6M	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2015	−0.251%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.1970	−0.453%	$4.2M	$628K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0440%	1h	2.2072	+0.009%	$258K	$278K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1790	−1.269%	$283K	$272K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0781%	1h	2.2061	−0.041%	$1.3M	$2.5M	50x	as long as short