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% APRpaid last 24h −0.003%

Price spread now: Bybit against Hyperliquid−0.164%7-day average −0.034% · you buy dearer than you sell

Net, funding: paid 7d − costs−$27as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$330.326% of the position

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.056%+$6 on $10k

Price spread, last 7 days+0.145%+$14 · spread now −0.164%, 7d avg −0.034%

Together, before fees+0.201%+ Points / potential airdropHyperliquid: Season 2 · farm board+$20 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: Bybit is 0.130% cheaper against Hyperliquid than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of −0.034%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1916	0.0100	pay 0.0013% / 1h	0m 08s	$14.4M	$7.6M	10x
Short	Bybit TRUMPUSDT	2.1880	0.0100	get 0.0050% / 4h	2h 00m	$31.4M	$47.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → −0.034%: −$12.98
Slippage, 4 orders: −$12.63
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$45.61
Costs to cover: 0.326%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 3 min ago; Bybit: 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 Hyperliquid live order book, 3 min ago	0.23 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	2.27 bp	8.3 bp −$8	17.5 bp −$175	111.1 bp −$11.1K	doesn't fit

TRUMP on 30 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	2.1850	−0.301%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1881	−0.158%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0086%	4h	2.1890	−0.119%	$7.7M	$49.9M	75x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1920	+0.018%	$27K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.1897	−0.087%	$412K	$72K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1896	−0.090%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.1997	+0.367%	$107K	$264K	20x	as long as short
SoDEX TRUMP-USD	+0.0055%	1h	2.1885	−0.141%	$83	$6K	5x	as long as short
Lighter TRUMP	+0.0056%	1h	2.1877	−0.178%	$973K	$800K	10x	as long as short
Paradex TRUMP-USD-PERP	+0.0066%	8h	2.1903	−0.059%	$5K	$175	5x	as long as short

Show all 30 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_TRUMP_USDC	+0.0085%	4h	2.1890	−0.119%	$4K	$239K	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1916	long leg	$14.4M	$7.6M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1910	−0.030%	$433K	$862K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1918	+0.009%	$189K	$56K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.1890	−0.119%	$63.6M	$234.8M	75x	as long as short
Bybit TRUMPUSDTshort	+0.0100%	4h	2.1880	−0.164%	$31.4M	$47.9M	50x
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1880	−0.164%	$28.5M	$168.9M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1870	−0.210%	$435K	$148K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1910	−0.027%	$4.3M	$11.0M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1890	−0.119%	$15.7M	$24.4M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.1911	−0.022%	$690K	$447K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1941	+0.116%	$183K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1910	−0.027%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1930	+0.064%	$538K	$2.0M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.1880	−0.165%	$77K	$626K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.1880	−0.164%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.1897	−0.087%	$10K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0254%	1h	2.1909	−0.032%	$258K	$315K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0515%	1h	2.1910	−0.030%	$1.3M	$2.2M	50x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0536%	1h	2.2000	+0.383%	$285K	$303K	50x	as long as short