Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0076%/8h= −8.3% APRpaid last 24h −0.003%

Price spread now: KuCoin against Hyperliquid−0.088%7-day average −0.023% · you buy dearer than you sell

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$510.509% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.053%+$5 on $10k

Price spread, last 7 days+0.111%+$11 · spread now −0.088%, 7d avg −0.023%

Together, before fees+0.165%+ Points / potential airdropHyperliquid: Season 2 · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and KuCoin is 0.065% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.023%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.053%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRUMP	2.1509	0.0100	pay 0.0013% / 1h	10m 34s	$13.6M	$8.1M	10x
Short	KuCoin TRUMPUSDTM	2.1490	0.0024	get 0.0012% / 4h	10m 34s	$4.1M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.088%Rate

Funding earned: −$15.96
Price spread: −0.088% → −0.023%: −$6.54
Slippage, 4 orders: −$29.86
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$73.36
Costs to cover: 0.509%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; KuCoin: 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, 2 min ago	1.39 bp	6.0 bp −$6	10.9 bp −$109	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	2.33 bp	20.5 bp −$21	80.8 bp −$808	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	−0.1797%	1h	2.1380	−0.600%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0353%	1h	2.1485	−0.112%	$76	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1552	+0.201%	$5	—	10x	as long as short
Variational Omni TRUMP	−0.0243%	4h	2.1482	−0.124%	$663K	$423K	—	as long as short
Lighter TRUMP	−0.0192%	1h	2.1501	−0.037%	$940K	$1.0M	10x	as long as short
OKX TRUMP-USDT-SWAP	−0.0190%	4h	2.1540	+0.144%	$26.8M	$184.9M	50x	as long as short
Binance TRUMPUSDT	−0.0189%	4h	2.1530	+0.098%	$60.9M	$250.3M	75x	as long as short
Bybit TRUMPUSDT	−0.0186%	4h	2.1550	+0.191%	$30.6M	$52.4M	50x	as long as short
Extended TRUMP-USD	−0.0184%	1h	2.1525	+0.074%	$74K	$496K	25x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0122%	1h	2.1495	−0.065%	$405K	$81K	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRUMP-USD-PERP	−0.0104%	8h	2.1502	−0.033%	$5K	$175	5x	as long as short
Gate TRUMP_USDT	−0.0100%	4h	2.1530	+0.098%	$7.7M	$53.4M	75x	as long as short
edgeX TRUMPUSDC	−0.0092%	4h	2.1442	−0.314%	$105K	$254K	20x	as long as short
Orderly PERP_TRUMP_USDC	−0.0070%	4h	2.1480	−0.135%	$5K	$278K	10x	as long as short
dYdX TRUMP-USD	−0.0004%	1h	2.1526	+0.079%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1501	−0.038%	$41K	—	150x	as long as short
KuCoin TRUMPUSDTMshort	+0.0024%	4h	2.1490	−0.088%	$4.1M	$10.8M	50x
Aevo TRUMP-PERP	+0.0032%	1h	2.1473	−0.167%	$19K	—	3x	as long as short
BloFin TRUMP-USDT	+0.0053%	4h	2.1500	−0.042%	$4.1M	$688K	75x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1330	−0.832%	$167K	$479K	50x	as long as short
Bitget TRUMPUSDT	+0.0080%	4h	2.1560	+0.237%	$15.3M	$27.0M	75x	as long as short
Hyperliquid TRUMPlong	+0.0100%	1h	2.1509	long leg	$13.6M	$8.1M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1535	+0.123%	$404K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1517	+0.037%	$185K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1500	−0.042%	$399K	$149K	125x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1500	−0.042%	$179K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1510	+0.005%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1500	−0.042%	$483K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1510	+0.007%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0291%	1h	2.1530	+0.098%	$384K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0597%	1h	2.1517	+0.038%	$1.3M	$2.3M	50x	as long as short