Funding arb · Price arb /

TRX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0369%/8h= +40.4% APRpaid last 24h +0.060%

Price spread now: Deribit against Aster+0.103%7-day average +0.046% · you sell dearer than you buy

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$20as in the Price arb table

costs, in and out, $10k−$250.254% of the position

Long on Aster Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.028%+$3 on $10k

Price spread, last 3 days (all we have)−0.140%−$14 · spread now +0.103%, 7d avg +0.046%

Together, before fees−0.111%+ Points / potential airdropAster: Stage 5 · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Deribit is 0.056% dearer against Aster than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.046%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.028% in total (about 1.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TRXUSDT	0.3443	0.0075	pay 0.0075% / 8h	11m 30s	$956K	$660K	75x
Short	Deribit TRX_USDC-PERPETUAL	0.3447	0.0444	get 0.0055% / 1h	11m 30s	$832K	$417K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Aster. 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 AsterbpFee DeribitbpOrdersPrice spread, now +0.103%Rate

Funding earned: $77.43
Price spread: +0.103% → +0.046%: $5.63
Slippage, 4 orders: −$10.39
Fee Aster: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $57.67
Costs to cover: 0.254%
Break-even: 1.8 days

Slippage from Aster: live order book, 1 min ago; Deribit: live order book, 2 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 Aster live order book, 1 min ago	0.29 bp	4.3 bp −$4	doesn't fit	doesn't fit	doesn't fit
Sell Deribit live order book, 2 min ago	1.89 bp	5.9 bp −$6	doesn't fit	doesn't fit	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
Injective TRX/USDC PERP	−0.0146%	1h	0.3441	−0.065%	$1K	$163K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3442	−0.024%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0095%	8h	0.3443	−0.007%	$8.7M	$3.6M	75x	as long as short
Backpack TRX_USDC_PERP	−0.0078%	1h	0.3443	−0.009%	$58K	$4K	10x	as long as short
Phoenix TRX	−0.0070%	1h	0.3444	+0.025%	$5K	$13K	10x	as long as short
Variational Omni TRX	−0.0027%	8h	0.3442	−0.036%	$563K	$36K	—	as long as short
HTX TRX-USDT	−0.0019%	8h	0.3441	−0.054%	$827K	$731K	75x	as long as short
Bybit TRXUSDT	−0.0012%	8h	0.3442	−0.036%	$54.6M	$8.1M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3444	+0.034%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3444	+0.025%	$121K	—	150x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRX-USDT-SWAP	+0.0028%	8h	0.3443	−0.012%	$15.6M	$8.8M	50x	as long as short
MEXC TRX_USDT	+0.0036%	8h	0.3443	−0.004%	$18.2M	$1.9M	200x	as long as short
Binance TRXUSDT	+0.0037%	8h	0.3443	−0.004%	$99.3M	$47.9M	75x	as long as short
Extended TRX-USD	+0.0040%	1h	0.3442	−0.028%	$196K	$1.1M	25x	as long as short
Kraken Futures PF_TRXUSD	+0.0062%	1h	0.3444	+0.034%	$1.9M	$1.0M	25x	as long as short
Paradex TRX-USD-PERP	+0.0074%	8h	0.3443	−0.020%	$9K	$385	20x	as long as short
Aster TRXUSDTlong	+0.0075%	8h	0.3443	long leg	$956K	$660K	75x
SoDEX TRX-USD	+0.0078%	1h	0.3443	−0.004%	$406	$5K	5x	as long as short
Lighter TRX	+0.0080%	1h	0.3443	−0.015%	$482K	$630K	10x	as long as short
Gate TRX_USDT	+0.0082%	8h	0.3443	−0.012%	$9.6M	$2.5M	75x	as long as short
Phemex TRXUSDT	+0.0084%	8h	0.3443	−0.001%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3441	−0.065%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0091%	8h	0.3443	−0.018%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3445	+0.044%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3443	+0.002%	$9.5M	$2.2M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3443	−0.007%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3443	−0.012%	$588K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3444	+0.014%	$115K	$568K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3444	+0.011%	$196K	$927K	30x	as long as short
BloFin TRX-USDT	+0.0142%	8h	0.3443	−0.001%	$4.6M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3444	+0.015%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUALshort	+0.0444%	1h	0.3447	+0.103%	$832K	$417K	25x