Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0030%/8h= −3.3% APRpaid last 24h −0.025%

Price spread now: BingX against ApeX Omni+0.066%7-day average −0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$26as in the Price arb table

costs, in and out, $10k−$340.344% of the position

Long on ApeX Omni Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.214%−$21 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now +0.066%, 7d avg −0.016%

Together, before fees−0.346%−$35 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.082% dearer against ApeX Omni than usual: you sell high and buy low (spread +0.066% now, against its 7-day average of −0.016%): +$8 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 9.1 days. At the pace of the last 7 days (−0.214% in total) that is about 2.7 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	ApeX Omni TRXUSDT	0.3476	0.0100	pay 0.0013% / 1h	29m 17s	$116K	$563K	50x
Short	BingX TRX-USDT	0.3478	0.0070	get 0.0070% / 8h	4h 29m	—	$32.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against ApeX Omni. 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 ApeX OmnibpFee BingXbpOrdersPrice spread, now +0.066%Rate

Funding earned: −$6.3
Price spread: +0.066% → −0.016%: $8.21
Slippage, 4 orders: −$14.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$32.48
Costs to cover: 0.344%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 28 min ago; BingX: live order book, 9 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 ApeX Omni live order book, 28 min ago	4.61 bp	12.0 bp −$12	94.0 bp −$940	doesn't fit	doesn't fit
Sell BingX live order book, 9 min ago	0.29 bp	5.3 bp −$5	7.0 bp −$70	13.7 bp −$1,370	39.5 bp −$19.7K

TRX on 32 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
Reya TRXRUSDPERP	−0.0133%	1h	0.3477	+0.046%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3478	+0.081%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3479	+0.084%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3478	+0.073%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.996%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0054%	1h	0.3478	+0.063%	$62K	$5K	10x	as long as short
BingX TRX-USDTshort	+0.0070%	8h	0.3478	+0.066%	—	$32.8M	—
Paradex TRX-USD-PERP	+0.0092%	8h	0.3477	+0.041%	$9K	$251	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3478	+0.058%	$485K	$669K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0098%	8h	0.3478	+0.069%	$15K	$100K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3480	+0.138%	$13.1M	$2.6M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3478	+0.071%	$964K	$696K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3478	+0.067%	$105.2M	$58.7M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3478	+0.069%	$53.7M	$11.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3477	+0.029%	$15.5M	$9.8M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3478	+0.055%	$9.7M	$2.9M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3478	+0.083%	$18.8M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3479	+0.098%	$8.6M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3479	+0.086%	$10.4M	$3.3M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3475	−0.020%	$568K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3476	0.000%	$593K	$473K	20x	as long as short
ApeX Omni TRXUSDTlong	+0.0100%	1h	0.3476	long leg	$116K	$563K	50x
SunX TRX-USDT	+0.0100%	8h	0.3477	+0.045%	$198K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3478	+0.063%	$408	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3477	+0.033%	$835K	$845K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3478	+0.060%	$3.9M	$1.9M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3477	+0.036%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3476	+0.017%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3478	+0.060%	$4.7M	$3.9M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0261%	1h	0.3479	+0.090%	$2.4M	$1.7M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0404% / S −0.0481%	1h	0.3478	+0.064%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0572%	1h	0.3481	+0.156%	$844K	$504K	25x	as long as short