Funding arb · Price arb /

TRX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.028%

Price spread now: Phoenix against Aster+0.068%7-day average — · you sell dearer than you buy

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

Long on Aster Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropAster: Stage 5 · farm boardneeds both histories

The price spread pays, funding is against you. Phoenix is 0.068% dearer against Aster than usual: you sell high and buy low (spread +0.068% now, against zero (this spread has no 7-day history yet)): +$7 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 44 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Aster TRXUSDT	0.3472	0.0100	pay 0.0100% / 8h	4h 55m	$962K	$694K	75x
Short	Phoenix TRX	0.3475	−0.0023	pay 0.0003% / 1h	55m 26s	$5K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.068%Rate

Funding earned: −$25.83
Price spread: +0.068% → 0.000%: $6.78
Slippage, 4 orders: no order book: not counted
Fee Aster: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$34.05
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Aster: live order book, 2 min ago; Phoenix: no order-book sample. 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 Aster live order book, 2 min ago	0.14 bp	8.3 bp −$8	doesn't fit	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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.

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	0.3472	−0.013%	$5	—	20x	as long as short
Phoenix TRXshort	−0.0023%	1h	0.3475	+0.068%	$5K	$14K	10x
dYdX TRX-USD	0.0000%	1h	0.3473	+0.018%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3473	+0.025%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.900%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0047%	1h	0.3472	+0.002%	$62K	$5K	10x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3472	+0.004%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3473	+0.022%	$484K	$664K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0098%	8h	0.3473	+0.016%	$15K	$123K	20x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3473	+0.013%	$9K	$251	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	0.3475	+0.076%	$13.1M	$2.6M	10x	as long as short
Aster TRXUSDTlong	+0.0100%	8h	0.3472	long leg	$962K	$694K	75x
Binance TRXUSDT	+0.0100%	8h	0.3473	+0.015%	$105.0M	$58.3M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3472	+0.002%	$53.7M	$11.6M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3472	+0.002%	$15.5M	$9.6M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3472	+0.004%	$9.6M	$2.9M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3473	+0.019%	$18.8M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3473	+0.033%	$8.6M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3473	+0.025%	$10.3M	$3.3M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3472	−0.009%	$568K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3472	−0.001%	$592K	$470K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3473	+0.036%	$116K	$565K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3473	+0.011%	$197K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3473	+0.027%	$408	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3473	+0.019%	$835K	$839K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3474	+0.042%	$3.9M	$1.8M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3472	−0.012%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3471	−0.027%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3473	+0.030%	$4.7M	$3.9M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0261%	1h	0.3474	+0.044%	$2.4M	$1.7M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0404% / S −0.0481%	1h	0.3473	+0.031%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0620%	1h	0.3476	+0.116%	$844K	$503K	25x	as long as short