TRUMP

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0676%/8h= +74.0% APRnext payment +$0.84 per $10,000 · paid last 24h −0.023%

Price spread now: Kraken Futures against Hyperliquid+0.123%50s7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$74as 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−$630.631% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.110%−$11 on $10k

Price spread, last 3 days (all we have)−0.091%−$9 · spread now +0.123%, 7d avg +0.031%

Together, before fees−0.201%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Kraken Futures is 0.093% dearer against Hyperliquid than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of +0.031%. Mind the row above: over the last 7 days funding on this pair cost −0.110%, so the current rate has only just turned in your favour. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.110% in total (about -5.7% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.84 per $10,000. 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	2.2190	0.0100	pay 0.0013% / 1h	2m 28s	$14.4M	$6.6M	10x
Short	Kraken Futures PF_TRUMPUSD	2.2217	0.0776	get 0.0097% / 1h	2m 28s	$1.3M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.123%Rate

Funding earned: $141.87
Price spread: +0.123% → +0.031%: $9.28
Slippage, 4 orders: −$44.06
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: $88.1
Costs to cover: 0.631%
Break-even: 2.7 days

Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 1 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, 10 min ago	2.22 bp	10.4 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	4.51 bp	18.2 bp −$18	24.7 bp −$247	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	2.2180	−0.045%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2161	−0.129%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2216	+0.117%	$28K	$512	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2212	+0.099%	$417K	$78K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2200	+0.045%	$42K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2432	+1.091%	$109K	$263K	20x	as long as short
Paradex TRUMP-USD-PERP	+0.0083%	8h	2.2167	−0.105%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0094%	4h	2.2200	+0.045%	$3K	$249K	10x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2235	+0.203%	$986K	$783K	10x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.2190	long leg	$14.4M	$6.6M	10x

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRUMPUSDT	+0.0100%	4h	2.2244	+0.245%	$464K	$837K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.2231	+0.185%	$193K	$55K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2180	−0.045%	$64.2M	$229.8M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2160	−0.135%	$31.4M	$46.3M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2150	−0.180%	$28.8M	$163.4M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2170	−0.090%	$7.9M	$49.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2180	−0.045%	$478K	$134K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2260	+0.315%	$4.2M	$10.8M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2170	−0.090%	$16.0M	$23.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2321	+0.590%	$710K	$441K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2373	+0.825%	$184K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2220	+0.135%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2200	+0.045%	$82	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2280	+0.406%	$578K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2130	−0.270%	$79K	$600K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2238	+0.218%	$19K	—	3x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0217% / S −0.0188%	1h	2.2196	+0.029%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2210	+0.090%	$4.3M	$675K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0448%	1h	2.2234	+0.198%	$260K	$302K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.2210	+0.090%	$292K	$286K	50x	as long as short
Kraken Futures PF_TRUMPUSDshort	+0.0776%	1h	2.2217	+0.123%	$1.3M	$2.6M	50x