Funding you earn now, next payment 23:00 UTC−0.0061%/8h= −6.7% APRpaid last 24h +0.017%
Price spread now: Variational Omni against Backpack−0.066%49s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories
Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Variational Omni is 0.066% cheaper against Backpack than usual: you would sell low and buy high (−$7 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 49 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 | Backpack TRX_USDC_PERP | 0.3440 | −0.0007 | get 0.0001% / 1h | 2m 20s | $58K | $4K | 10x |
| Short | Variational Omni TRX | 0.3438 | −0.0068 | pay 0.0068% / 8h | 1h 02m | $562K | $38K | — |
Backpack TRX_USDC_PERP
Variational Omni TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni against Backpack. Falling: the short leg gains. Rising: it loses.latest
Price spreadloading…
Funding on every exchange
click an exchange to add or hide itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$12.84
- Price spread: −0.066% → 0.000%
- −$6.58
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$29.42
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Backpack: no order-book sample; Variational Omni: RFQ quote, 17 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 Variational Omni RFQ quote, 17 min ago | 5.81 bp | doesn't fit | 8.7 bp −$87 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3440 | −0.009% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | +0.020% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | −0.0083% | 8h | 0.3440 | −0.015% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3441 | +0.017% | $5K | $13K | 10x | as long as short |
| Variational Omni TRXshort | −0.0068% | 8h | 0.3438 | −0.066% | $562K | $38K | — | |
| Bybit TRXUSDT | −0.0050% | 8h | 0.3439 | −0.038% | $54.6M | $8.2M | 75x | as long as short |
| HTX TRX-USDT | −0.0025% | 8h | 0.3439 | −0.049% | $826K | $722K | 75x | as long as short |
| Backpack TRX_USDC_PERPlong | −0.0007% | 1h | 0.3440 | long leg | $58K | $4K | 10x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | +0.010% | $181K | $10K | 10x | as long as short |
| OKX TRX-USDT-SWAP | +0.0001% | 8h | 0.3440 | 0.000% | $15.6M | $8.8M | 50x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Phoenix TRX
Bybit TRXUSDT
HTX TRX-USDT
dYdX TRX-USD
OKX TRX-USDT-SWAPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3442 | +0.042% | $121K | — | 150x | as long as short |
| Lighter TRX | +0.0008% | 1h | 0.3440 | −0.009% | $482K | $637K | 10x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3440 | −0.017% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0016% | 8h | 0.3441 | +0.006% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0018% | 8h | 0.3441 | +0.006% | $99.3M | $48.2M | 75x | as long as short |
| Aster TRXUSDT | +0.0020% | 8h | 0.3440 | −0.011% | $955K | $659K | 75x | as long as short |
| SoDEX TRX-USD | +0.0026% | 1h | 0.3441 | +0.006% | $401 | $5K | 5x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3442 | +0.053% | $1.9M | $1.0M | 25x | as long as short |
| Paradex TRX-USD-PERP | +0.0041% | 8h | 0.3440 | −0.012% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDT | +0.0068% | 8h | 0.3441 | +0.009% | $4.6M | $4.0M | 50x | as long as short |
| Phemex TRXUSDT | +0.0077% | 8h | 0.3441 | +0.009% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0083% | 8h | 0.3441 | +0.009% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3439 | −0.047% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3440 | −0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3442 | +0.058% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3441 | +0.012% | $9.4M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3440 | −0.006% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3439 | −0.027% | $587K | $431K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | +0.003% | $115K | $552K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.068% | $196K | $920K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3441 | +0.022% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0514% | 1h | 0.3445 | +0.122% | $832K | $411K | 25x | as long as short |
gTrade (Gains Network) TRX/USD
Lighter TRX
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
Aster TRXUSDT
SoDEX TRX-USD
Kraken Futures PF_TRXUSD
Paradex TRX-USD-PERP
BloFin TRX-USDT
Phemex TRXUSDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL