Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0351%/8h= −38.5% APRpaid last 24h −0.026%

Price spread now: Binance against Hyperliquid−0.070%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$36as in the Price arb table

costs, in and out, $10k−$320.319% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.036%−$4 on $10k

Price spread, last 7 days+0.082%+$8 · spread now −0.070%, 7d avg −0.025%

Together, before fees+0.046%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Binance is 0.045% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.036% in total (about -1.9% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1476	0.0100	pay 0.0013% / 1h	35m 50s	$13.6M	$8.1M	10x
Short	Binance TRUMPUSDT	2.1461	−0.0251	pay 0.0126% / 4h	3h 35m	$60.9M	$247.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.070%Rate

Funding earned: −$73.77
Price spread: −0.070% → −0.025%: −$4.47
Slippage, 4 orders: −$12.92
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$110.15
Costs to cover: 0.319%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Binance: live order book, 8 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, 7 min ago	0.93 bp	7.3 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 8 min ago	2.33 bp	7.3 bp −$7	12.4 bp −$124	38.3 bp −$3,826	228.9 bp −$114.5K

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	−0.1829%	1h	2.1350	−0.587%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0615%	1h	2.1459	−0.079%	$71	$6K	5x	as long as short
Bybit TRUMPUSDT	−0.0337%	4h	2.1450	−0.121%	$30.6M	$51.8M	50x	as long as short
Variational Omni TRUMP	−0.0300%	4h	2.1451	−0.114%	$662K	$415K	—	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0262%	1h	2.1470	−0.028%	$388K	$81K	10x	as long as short
Gate TRUMP_USDT	−0.0252%	4h	2.1460	−0.075%	$7.7M	$49.6M	75x	as long as short
Binance TRUMPUSDTshort	−0.0251%	4h	2.1461	−0.070%	$60.9M	$247.1M	75x
Extended TRUMP-USD	−0.0248%	1h	2.1444	−0.148%	$74K	$494K	25x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1457	−0.090%	$5	—	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0243%	4h	2.1440	−0.168%	$26.9M	$182.4M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRUMP	−0.0232%	1h	2.1457	−0.088%	$938K	$990K	10x	as long as short
Paradex TRUMP-USD-PERP	−0.0160%	8h	2.1451	−0.115%	$5K	$175	5x	as long as short
Coinbase International TRUMP-PERP-INTX	−0.0136%	1h	2.1450	−0.121%	$156K	$474K	50x	as long as short
GRVT TRUMP_USDT_Perp	−0.0122%	4h	2.1439	−0.173%	$180K	$4.3M	10x	as long as short
edgeX TRUMPUSDC	−0.0120%	4h	2.1432	−0.206%	$105K	$253K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0097%	4h	2.1450	−0.121%	$5K	$296K	10x	as long as short
KuCoin TRUMPUSDTM	−0.0044%	4h	2.1460	−0.075%	$4.1M	$10.7M	50x	as long as short
dYdX TRUMP-USD	−0.0025%	1h	2.1486	+0.048%	$27K	$805	5x	as long as short
BloFin TRUMP-USDT	−0.0011%	4h	2.1460	−0.075%	$4.2M	$686K	75x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1467	−0.042%	$40K	—	150x	as long as short
Aevo TRUMP-PERP	+0.0024%	1h	2.1436	−0.186%	$19K	—	3x	as long as short
Bitget TRUMPUSDT	+0.0028%	4h	2.1460	−0.075%	$15.3M	$26.5M	75x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1476	long leg	$13.6M	$8.1M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1481	+0.022%	$407K	$719K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1467	−0.042%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1440	−0.168%	$398K	$148K	125x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1500	+0.112%	$2K	$1.5M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1460	−0.075%	$499K	$2.5M	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0121%	1h	2.1494	+0.083%	$1.3M	$2.3M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1469	−0.034%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0296%	1h	2.1496	+0.093%	$383K	$422K	10x	as long as short