Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0195%/8h= −21.3% APRpaid last 24h −0.045%

Price spread now: Bybit against ApeX Omni−0.099%59s7-day average −0.032% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as 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−$430.430% of the position

Long on ApeX Omni Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.388%−$39 on $10k

Price spread, last 3 days (all we have)+0.034%+$3 · spread now −0.099%, 7d avg −0.032%

Together, before fees−0.355%−$35 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Bybit is 0.066% cheaper against ApeX Omni than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.032%). Swap the legs. The two prices were read 59 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	ApeX Omni TRXUSDT	0.3441	0.0100	pay 0.0013% / 1h	56m 25s	$115K	$543K	50x
Short	Bybit TRXUSDT	0.3438	−0.0095	pay 0.0095% / 8h	2h 56m	$54.7M	$8.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.099%Rate

Funding earned: −$40.88
Price spread: −0.099% → −0.032%: −$6.64
Slippage, 4 orders: −$22.05
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.56
Costs to cover: 0.430%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 31 min ago; Bybit: live order book, 3 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, 31 min ago	4.65 bp	11.7 bp −$12	123.0 bp −$1,230	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.45 bp	7.0 bp −$7	10.9 bp −$109	53.6 bp −$5,360	doesn't fit

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	0.3438	−0.098%	$5	—	20x	as long as short
Backpack TRX_USDC_PERP	−0.0105%	1h	0.3438	−0.084%	$58K	$7K	10x	as long as short
Bybit TRXUSDTshort	−0.0095%	8h	0.3438	−0.099%	$54.7M	$8.2M	75x
BingX TRX-USDC	−0.0093%	8h	0.3438	−0.087%	—	$6.5M	—	as long as short
Variational Omni TRX	−0.0081%	8h	0.3439	−0.083%	$562K	$39K	—	as long as short
Phoenix TRX	−0.0070%	1h	0.3440	−0.041%	$5K	$13K	10x	as long as short
Aster TRXUSDT	−0.0056%	8h	0.3439	−0.061%	$951K	$636K	75x	as long as short
SoDEX TRX-USD	−0.0050%	1h	0.3438	−0.084%	$402	$5K	5x	as long as short
Injective TRX/USDC PERP	−0.0048%	1h	0.3439	−0.070%	$1K	$100K	12x	as long as short
Lighter TRX	−0.0040%	1h	0.3438	−0.090%	$483K	$628K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TRX-USDT	−0.0039%	8h	0.3438	−0.097%	$826K	$704K	75x	as long as short
Binance TRXUSDT	−0.0001%	8h	0.3438	−0.087%	$99.2M	$49.6M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3441	−0.021%	$181K	$10K	10x	as long as short
Extended TRX-USD	0.0000%	1h	0.3438	−0.107%	$196K	$1.1M	25x	as long as short
MEXC TRX_USDT	0.0000%	8h	0.3438	−0.084%	$17.2M	$1.6M	200x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3440	−0.042%	$121K	—	150x	as long as short
OKX TRX-USDT-SWAP	+0.0012%	8h	0.3438	−0.096%	$15.6M	$8.8M	50x	as long as short
Paradex TRX-USD-PERP	+0.0046%	8h	0.3439	−0.084%	$9K	$385	20x	as long as short
Bitget TRXUSDT	+0.0064%	8h	0.3438	−0.108%	$9.4M	$2.1M	75x	as long as short
KuCoin TRXUSDTM	+0.0071%	8h	0.3437	−0.125%	$8.7M	$3.6M	75x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3437	−0.126%	$33K	—	3x	as long as short
Phemex TRXUSDT	+0.0083%	8h	0.3439	−0.067%	$3.8M	$1.6M	50x	as long as short
Orderly PERP_TRX_USDC	+0.0086%	8h	0.3439	−0.061%	$14K	$107K	20x	as long as short
Kraken Futures PF_TRXUSD	+0.0087%	1h	0.3440	−0.028%	$1.9M	$994K	25x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3441	−0.020%	$13.2M	$2.2M	10x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3438	−0.090%	$9.7M	$2.4M	75x	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3440	−0.050%	$587K	$434K	20x	as long as short
ApeX Omni TRXUSDTlong	+0.0100%	1h	0.3441	long leg	$115K	$543K	50x
SunX TRX-USDT	+0.0100%	8h	0.3441	−0.012%	$196K	$915K	30x	as long as short
BloFin TRX-USDT	+0.0119%	8h	0.3439	−0.058%	$4.6M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0351% / S −0.0367%	1h	0.3440	−0.037%	$19K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0357%	1h	0.3442	+0.031%	$828K	$409K	25x	as long as short