Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.003%

Price spread now: Hyperliquid against Pacifica−0.055%54s7-day average +0.028% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as 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−$480.476% of the position

Long on Pacifica Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.203%−$20 on $10k

Price spread, last 4 days (all we have)+0.092%+$9 · spread now −0.055%, 7d avg +0.028%

Together, before fees−0.111%+ Points / potential airdropPacifica: Active · Hyperliquid: Season 2 · farm board−$11 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: Hyperliquid is 0.083% cheaper against Pacifica than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.028%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Pacifica TRUMP	2.1813	0.0100	pay 0.0013% / 1h	28m 51s	$188K	$52K	10x
Short	Hyperliquid TRUMP	2.1801	0.0100	get 0.0013% / 1h	28m 51s	$13.8M	$8.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Pacifica. 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 PacificabpFee HyperliquidbpOrdersPrice spread, now −0.055%Rate

Funding earned: $0
Price spread: −0.055% → +0.028%: −$8.27
Slippage, 4 orders: −$30.62
Fee Pacifica: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$55.9
Costs to cover: 0.476%
Break-even: never at this rate

Slippage from Pacifica: live order book, 24 min ago; Hyperliquid: 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 Pacifica live order book, 24 min ago	5.04 bp	11.4 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.92 bp	9.3 bp −$9	doesn't fit	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	2.1740	−0.335%	$13K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0247%	1h	2.1794	−0.087%	$87	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1791	−0.101%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0117%	1h	2.1798	−0.069%	$410K	$72K	10x	as long as short
Extended TRUMP-USD	−0.0080%	1h	2.1764	−0.226%	$75K	$716K	25x	as long as short
Binance TRUMPUSDT	−0.0079%	4h	2.1790	−0.106%	$61.7M	$245.2M	75x	as long as short
Gate TRUMP_USDT	−0.0038%	4h	2.1790	−0.106%	$7.8M	$51.5M	75x	as long as short
edgeX TRUMPUSDC	−0.0034%	4h	2.1827	+0.066%	$106K	$265K	20x	as long as short
Variational Omni TRUMP	−0.0013%	4h	2.1871	+0.267%	$675K	$516K	—	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1836	+0.104%	$27K	$512	5x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1810	−0.016%	$41K	—	150x	as long as short
Paradex TRUMP-USD-PERP	+0.0023%	8h	2.1793	−0.090%	$5K	$175	5x	as long as short
Orderly PERP_TRUMP_USDC	+0.0025%	4h	2.1790	−0.106%	$3K	$187K	10x	as long as short
Aevo TRUMP-PERP	+0.0064%	1h	2.1790	−0.106%	$19K	—	3x	as long as short
Lighter TRUMP	+0.0096%	1h	2.1785	−0.128%	$962K	$975K	10x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1801	−0.055%	$13.8M	$8.0M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1802	−0.051%	$410K	$834K	20x	as long as short
Pacifica TRUMPlong	+0.0100%	1h	2.1813	long leg	$188K	$52K	10x
Bybit TRUMPUSDT	+0.0100%	4h	2.1780	−0.151%	$30.9M	$50.0M	50x	as long as short
OKX TRUMP-USDT-SWAP	+0.0100%	4h	2.1780	−0.151%	$27.9M	$179.7M	50x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1780	−0.151%	$409K	$150K	125x	as long as short
KuCoin TRUMPUSDTM	+0.0100%	4h	2.1790	−0.106%	$4.2M	$11.1M	50x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1780	−0.151%	$15.8M	$25.9M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1870	+0.261%	$179K	$4.6M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1840	+0.124%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1810	−0.014%	$496K	$2.3M	50x	as long as short
BloFin TRUMP-USDT	+0.0161%	4h	2.1800	−0.060%	$4.2M	$682K	75x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0171% / S −0.0141%	1h	2.1809	−0.019%	$10K	—	100x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0171%	1h	2.1819	+0.028%	$1.3M	$2.2M	50x	as long as short
Backpack TRUMP_USDC_PERP	+0.0293%	1h	2.1811	−0.009%	$342K	$376K	10x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0400%	1h	2.1890	+0.353%	$283K	$279K	50x	as long as short