Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.022%

Price spread now: edgeX against Hyperliquid−0.287%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$460.456% of the position

Long on Hyperliquid Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.348%+$35 · spread now −0.287%, 7d avg −0.051%

Together, before fees+0.337%+ Points / potential airdropHyperliquid: Season 2 · edgeX: Active · farm board+$34 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and edgeX is 0.236% cheaper against Hyperliquid than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.051%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1722	0.0100	pay 0.0013% / 1h	21m 18s	$13.8M	$8.0M	10x
Short	edgeX TRUMPUSDC	2.1660	−0.0046	pay 0.0023% / 4h	3h 21m	$106K	$264K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 edgeXbpOrdersPrice spread, now −0.287%Rate

Funding earned: −$30.66
Price spread: −0.287% → −0.051%: −$23.64
Slippage, 4 orders: −$27.61
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$99.91
Costs to cover: 0.456%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; edgeX: live order book, 31 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, 11 min ago	0.92 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell edgeX live order book, 31 min ago	6.88 bp	14.4 bp −$14	40.9 bp −$409	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	−0.1765%	1h	2.1550	−0.792%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0322%	1h	2.1687	−0.161%	$86	$6K	5x	as long as short
Paradex TRUMP-USD-PERP	−0.0300%	8h	2.1690	−0.149%	$5K	$175	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1691	−0.142%	$5	—	10x	as long as short
Gate TRUMP_USDT	−0.0196%	4h	2.1700	−0.101%	$7.9M	$51.9M	75x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0165%	1h	2.1697	−0.115%	$408K	$72K	10x	as long as short
Binance TRUMPUSDT	−0.0105%	4h	2.1692	−0.140%	$61.4M	$245.9M	75x	as long as short
Extended TRUMP-USD	−0.0104%	1h	2.1679	−0.198%	$74K	$714K	25x	as long as short
edgeX TRUMPUSDCshort	−0.0046%	4h	2.1660	−0.287%	$106K	$264K	20x
Variational Omni TRUMP	−0.0020%	4h	2.1681	−0.189%	$670K	$516K	—	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit TRUMPUSDT	−0.0010%	4h	2.1690	−0.147%	$30.7M	$50.3M	50x	as long as short
dYdX TRUMP-USD	−0.0008%	1h	2.1706	−0.073%	$27K	$512	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1710	−0.055%	$41K	—	150x	as long as short
Orderly PERP_TRUMP_USDC	+0.0015%	4h	2.1690	−0.147%	$4K	$194K	10x	as long as short
Lighter TRUMP	+0.0032%	1h	2.1670	−0.239%	$957K	$975K	10x	as long as short
Aevo TRUMP-PERP	+0.0056%	1h	2.1685	−0.170%	$19K	—	3x	as long as short
GRVT TRUMP_USDT_Perp	+0.0058%	4h	2.1690	−0.147%	$177K	$4.6M	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1722	long leg	$13.8M	$8.0M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1701	−0.095%	$408K	$834K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1697	−0.117%	$187K	$52K	10x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1680	−0.193%	$27.7M	$179.2M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1710	−0.055%	$407K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1700	−0.101%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1700	−0.101%	$15.7M	$26.0M	75x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1710	−0.055%	$1K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1700	−0.101%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0141%	4h	2.1660	−0.285%	$4.2M	$663K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1709	−0.058%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0172%	1h	2.1724	+0.007%	$1.3M	$2.3M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0209%	1h	2.1628	−0.433%	$339K	$377K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1720	−0.009%	$281K	$277K	50x	as long as short