Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0072%/8h= +7.9% APRpaid last 24h +0.005%

Price spread now: Hyperliquid against Orderly+0.050%7-day average +0.056% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Orderly Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.066%−$7 on $10k

Price spread, last 3 days (all we have)−0.003%$0 · spread now +0.050%, 7d avg +0.056%

Together, before fees−0.069%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.056%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.066%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TRUMP_USDC	2.2030	0.0097	pay 0.0048% / 4h	3h 27m	$3K	$249K	10x
Short	Hyperliquid TRUMP	2.2041	0.0169	get 0.0021% / 1h	27m 53s	$14.3M	$6.6M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Orderly. 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 OrderlybpFee HyperliquidbpOrdersPrice spread, now +0.050%Rate

Funding earned: $15.11
Price spread: +0.050% → +0.056%: −$0.62
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$0.52
Costs to cover: 0.150%
Break-even: 7.2 days

Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 5 min ago. Net counts fees only.

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 Orderly no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 5 min ago	0.23 bp	5.2 bp −$5	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	2.1950	−0.363%	$13K	$157K	12x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.2017	−0.061%	$5	—	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.2026	−0.016%	$28K	$485	5x	as long as short
Deribit TRUMP_USDC-PERPETUAL	0.0000%	1h	2.2048	+0.082%	$413K	$77K	10x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.2036	+0.026%	$41K	—	150x	as long as short
edgeX TRUMPUSDC	+0.0050%	4h	2.2040	+0.046%	$120K	$250K	20x	as long as short
Lighter TRUMP	+0.0096%	1h	2.2019	−0.050%	$978K	$769K	10x	as long as short
Orderly PERP_TRUMP_USDClong	+0.0097%	4h	2.2030	long leg	$3K	$249K	10x
Paradex TRUMP-USD-PERP	+0.0098%	8h	2.2047	+0.078%	$5K	$38	5x	as long as short
Aster TRUMPUSDT	+0.0100%	4h	2.2029	−0.006%	$459K	$836K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica TRUMP	+0.0100%	1h	2.2036	+0.029%	$190K	$53K	10x	as long as short
Binance TRUMPUSDT	+0.0100%	4h	2.2012	−0.082%	$62.9M	$222.2M	75x	as long as short
Bybit TRUMPUSDT	+0.0100%	4h	2.2010	−0.091%	$30.9M	$44.5M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.2020	−0.045%	$27.2M	$153.9M	50x	as long as short
Gate TRUMP_USDT	+0.0100%	4h	2.2010	−0.091%	$7.6M	$47.3M	75x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.2010	−0.091%	$477K	$133K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.2020	−0.045%	$4.4M	$10.5M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.2020	−0.045%	$16.1M	$22.0M	75x	as long as short
Variational Omni TRUMP	+0.0100%	4h	2.2022	−0.038%	$706K	$435K	—	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.2030	0.000%	$188K	$4.5M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.2050	+0.091%	$2K	$1.5M	50x	as long as short
SoDEX TRUMP-USD	+0.0100%	1h	2.2036	+0.027%	$74	$6K	5x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.2070	+0.182%	$557K	$1.9M	50x	as long as short
Extended TRUMP-USD	+0.0104%	1h	2.2005	−0.112%	$78K	$606K	25x	as long as short
Aevo TRUMP-PERP	+0.0104%	1h	2.2033	+0.014%	$19K	—	3x	as long as short
Hyperliquid TRUMPshort	+0.0169%	1h	2.2041	+0.050%	$14.3M	$6.6M	10x
GMX TRUMP/USD [ETH-USDC]	L +0.0216% / S −0.0188%	1h	2.2024	−0.027%	$10K	—	100x	as long as short
BloFin TRUMP-USDT	+0.0340%	4h	2.2050	+0.091%	$4.2M	$630K	75x	as long as short
Backpack TRUMP_USDC_PERP	+0.0451%	1h	2.2044	+0.064%	$258K	$278K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0624%	1h	2.1790	−1.089%	$283K	$271K	50x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0781%	1h	2.2063	+0.148%	$1.3M	$2.5M	50x	as long as short