Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0054%/8h= +5.9% APRpaid last 24h −0.023%

Price spread now: HTX against Backpack−0.027%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.076%−$8 on $10k

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

Together, before fees—needs both histories

Funding pays, the price is against you. HTX is 0.027% cheaper against Backpack than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 40 hours of funding at the current rate (+$2 a day). Mind the row above: over the last 7 days funding on this pair cost −0.076%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack TRX_USDC_PERP	0.3443	−0.0073	get 0.0009% / 1h	8m 47s	$58K	$4K	10x
Short	HTX TRX-USDT	0.3442	−0.0019	pay 0.0019% / 8h	8m 47s	$827K	$732K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now −0.027%Rate

Funding earned: $11.4
Price spread: −0.027% → 0.000%: −$2.7
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$13.3
Costs to cover: 0.220%
Break-even: 15.2 days

Slippage unknown: Backpack: no order-book sample; HTX: live order book, 5 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 Backpack no order-book sample	—	—	—	—	—
Sell HTX live order book, 5 min ago	4.27 bp	10.3 bp −$10	17.3 bp −$173	doesn't fit	doesn't fit

Backpack: 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
Injective TRX/USDC PERP	−0.0146%	1h	0.3441	−0.046%	$1K	$163K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3442	−0.019%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0094%	8h	0.3442	−0.009%	$8.7M	$3.6M	75x	as long as short
Backpack TRX_USDC_PERPlong	−0.0073%	1h	0.3443	long leg	$58K	$4K	10x
Phoenix TRX	−0.0070%	1h	0.3444	+0.055%	$5K	$13K	10x	as long as short
Variational Omni TRX	−0.0023%	8h	0.3442	−0.017%	$563K	$36K	—	as long as short
HTX TRX-USDTshort	−0.0019%	8h	0.3442	−0.027%	$827K	$732K	75x
Bybit TRXUSDT	−0.0010%	8h	0.3444	+0.041%	$54.6M	$8.0M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3444	+0.052%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3444	+0.033%	$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	+0.0029%	8h	0.3443	+0.023%	$15.6M	$8.8M	50x	as long as short
MEXC TRX_USDT	+0.0036%	8h	0.3443	+0.009%	$18.2M	$1.9M	200x	as long as short
Binance TRXUSDT	+0.0038%	8h	0.3444	+0.035%	$99.3M	$47.9M	75x	as long as short
Extended TRX-USD	+0.0040%	1h	0.3442	−0.015%	$196K	$1.1M	25x	as long as short
Kraken Futures PF_TRXUSD	+0.0062%	1h	0.3444	+0.032%	$1.9M	$1.0M	25x	as long as short
Paradex TRX-USD-PERP	+0.0074%	8h	0.3442	−0.007%	$9K	$385	20x	as long as short
Aster TRXUSDT	+0.0077%	8h	0.3443	+0.018%	$956K	$660K	75x	as long as short
Lighter TRX	+0.0080%	1h	0.3442	−0.009%	$482K	$630K	10x	as long as short
Gate TRX_USDT	+0.0082%	8h	0.3443	+0.006%	$9.6M	$2.5M	75x	as long as short
SoDEX TRX-USD	+0.0085%	1h	0.3443	−0.003%	$406	$5K	5x	as long as short
Phemex TRXUSDT	+0.0086%	8h	0.3443	+0.015%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3441	−0.034%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0091%	8h	0.3443	+0.003%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3445	+0.078%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3443	+0.026%	$9.5M	$2.2M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3444	+0.032%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3443	+0.007%	$588K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3444	+0.032%	$115K	$568K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3443	+0.005%	$196K	$927K	30x	as long as short
BloFin TRX-USDT	+0.0150%	8h	0.3443	0.000%	$4.6M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3444	+0.029%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0549%	1h	0.3447	+0.121%	$832K	$417K	25x	as long as short