Funding arb · Price arb /

TRUMP

all TRUMP markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0179%/8h= +19.6% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against Paradex−0.053%7-day average — · you buy dearer than you sell

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

Long on Paradex Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropParadex: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 0.053% cheaper against Paradex than usual: you would sell low and buy high (spread −0.053% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 24 hours of funding at the current rate (+$5 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Paradex TRUMP-USD-PERP	2.1421	−0.0079	get 0.0079% / 8h	37m 08s	$5K	$175	5x
Short	Hyperliquid TRUMP	2.1410	0.0100	get 0.0013% / 1h	37m 08s	$13.5M	$8.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Paradex. 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 ParadexbpFee HyperliquidbpOrdersPrice spread, now −0.053%Rate

Funding earned: $37.54
Price spread: −0.053% → 0.000%: −$5.31
Slippage, 4 orders: no order book: not counted
Fee Paradex: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $19.24
Costs to cover: 0.130%
Break-even: 3.4 days

Slippage unknown: Paradex: no order-book sample; Hyperliquid: live order book, 6 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 Paradex no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 6 min ago	1.62 bp	10.5 bp −$11	doesn't fit	doesn't fit	doesn't fit

Paradex: 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	−0.1797%	1h	2.1310	−0.520%	$12K	$157K	12x	as long as short
SoDEX TRUMP-USD	−0.0301%	1h	2.1395	−0.123%	$80	$6K	5x	as long as short
Reya TRUMPRUSDPERP	−0.0245%	1h	2.1396	−0.117%	$5	—	10x	as long as short
Deribit TRUMP_USDC-PERPETUAL	−0.0217%	1h	2.1407	−0.067%	$403K	$81K	10x	as long as short
Lighter TRUMP	−0.0192%	1h	2.1381	−0.188%	$934K	$1.0M	10x	as long as short
Extended TRUMP-USD	−0.0168%	1h	2.1389	−0.150%	$76K	$492K	25x	as long as short
Binance TRUMPUSDT	−0.0167%	4h	2.1410	−0.053%	$60.6M	$250.9M	75x	as long as short
OKX TRUMP-USDT-SWAP	−0.0161%	4h	2.1410	−0.053%	$26.5M	$183.9M	50x	as long as short
Variational Omni TRUMP	−0.0138%	4h	2.1531	+0.511%	$665K	$423K	—	as long as short
Bybit TRUMPUSDT	−0.0116%	4h	2.1400	−0.100%	$30.5M	$52.5M	50x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRUMP_USDT	−0.0110%	4h	2.1410	−0.053%	$7.6M	$53.2M	75x	as long as short
edgeX TRUMPUSDC	−0.0081%	4h	2.1453	+0.146%	$105K	$252K	20x	as long as short
Paradex TRUMP-USD-PERPlong	−0.0079%	8h	2.1421	long leg	$5K	$175	5x
Orderly PERP_TRUMP_USDC	−0.0055%	4h	2.1400	−0.100%	$5K	$269K	10x	as long as short
dYdX TRUMP-USD	0.0000%	1h	2.1438	+0.077%	$27K	$501	5x	as long as short
gTrade (Gains Network) TRUMP/USD	L +0.0008% / S −0.0007%	1h	2.1414	−0.033%	$40K	—	150x	as long as short
KuCoin TRUMPUSDTM	+0.0036%	4h	2.1410	−0.053%	$4.1M	$10.9M	50x	as long as short
Aevo TRUMP-PERP	+0.0040%	1h	2.1386	−0.165%	$19K	—	3x	as long as short
Coinbase International TRUMP-PERP-INTX	+0.0056%	1h	2.1410	−0.053%	$170K	$464K	50x	as long as short
BloFin TRUMP-USDT	+0.0073%	4h	2.1390	−0.146%	$4.1M	$700K	75x	as long as short
Hyperliquid TRUMPshort	+0.0100%	1h	2.1410	−0.053%	$13.5M	$8.1M	10x
Aster TRUMPUSDT	+0.0100%	4h	2.1420	−0.006%	$402K	$778K	20x	as long as short
Pacifica TRUMP	+0.0100%	1h	2.1425	+0.017%	$184K	$54K	10x	as long as short
MEXC TRUMP_USDC	+0.0100%	4h	2.1380	−0.193%	$397K	$147K	125x	as long as short
Bitget TRUMPUSDT	+0.0100%	4h	2.1410	−0.053%	$15.2M	$27.1M	75x	as long as short
GRVT TRUMP_USDT_Perp	+0.0100%	4h	2.1469	+0.221%	$172K	$4.4M	10x	as long as short
SunX TRUMP-USDT	+0.0100%	4h	2.1420	−0.006%	$2K	$1.6M	50x	as long as short
HTX TRUMP-USDT	+0.0100%	4h	2.1410	−0.053%	$481K	$2.4M	50x	as long as short
GMX TRUMP/USD [ETH-USDC]	L +0.0136% / S −0.0098%	1h	2.1411	−0.051%	$9K	—	100x	as long as short
Backpack TRUMP_USDC_PERP	+0.0291%	1h	2.1446	+0.115%	$383K	$418K	10x	as long as short
Kraken Futures PF_TRUMPUSD	+0.0600%	1h	2.1422	+0.004%	$1.3M	$2.3M	50x	as long as short