Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0081%/8h= −8.9% APRpaid last 24h +0.050%

Price spread now: dYdX against Binance−0.001%49s7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$109as 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−$1531.531% of the position

Long on Binance Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.441%+$44 on $10k

Price spread, last 4 days (all we have)−0.018%−$2 · spread now −0.001%, 7d avg +0.020%

Together, before fees+0.423%+$42 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and dYdX is 0.020% cheaper against Binance than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.020%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.441%, so the current rate has only just turned against you. 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	Binance TRXUSDT	0.3456	0.0081	pay 0.0081% / 8h	7h 16m	$100.7M	$48.0M	75x
Short	dYdX TRX-USD	0.3456	0	get 0.0000% / 1h	16m 55s	$182K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Binance. 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 BinancebpFee dYdXbpOrdersPrice spread, now −0.001%Rate

Funding earned: −$17.01
Price spread: −0.001% → +0.020%: −$2.04
Slippage, 4 orders: −$133.09
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$172.13
Costs to cover: 1.531%
Break-even: never at this rate

Slippage from Binance: live order book, 11 min ago; dYdX: live order book, 57 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 Binance live order book, 11 min ago	0.14 bp	6.0 bp −$6	6.5 bp −$65	28.4 bp −$2,839	doesn't fit
Sell dYdX live order book, 57 min ago	64.67 bp	70.0 bp −$70	180.8 bp −$1,808	279.6 bp −$28.0K	756.0 bp −$378.0K

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	0.3455	−0.031%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0087%	8h	0.3455	−0.029%	$8.7M	$3.5M	75x	as long as short
Phoenix TRX	−0.0046%	1h	0.3457	+0.014%	$5K	$14K	10x	as long as short
dYdX TRX-USDshort	0.0000%	1h	0.3456	−0.001%	$182K	$10K	10x
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3456	+0.002%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.446%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0043%	1h	0.3455	−0.029%	$58K	$4K	10x	as long as short
Variational Omni TRX	+0.0050%	8h	0.3454	−0.071%	$565K	$36K	—	as long as short
MEXC TRX_USDT	+0.0078%	8h	0.3456	0.000%	$18.4M	$1.9M	200x	as long as short
Extended TRX-USD	+0.0080%	1h	0.3455	−0.029%	$194K	$1.0M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TRXUSDTlong	+0.0081%	8h	0.3456	long leg	$100.7M	$48.0M	75x
HTX TRX-USDT	+0.0084%	8h	0.3456	−0.021%	$830K	$754K	75x	as long as short
OKX TRX-USDT-SWAP	+0.0089%	8h	0.3457	+0.006%	$15.5M	$8.4M	50x	as long as short
Paradex TRX-USD-PERP	+0.0091%	8h	0.3456	−0.024%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0092%	8h	0.3456	−0.026%	$15K	$107K	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3456	−0.026%	$484K	$630K	10x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3458	+0.043%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3456	−0.015%	$957K	$664K	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3456	−0.026%	$55.1M	$8.3M	75x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3457	+0.006%	$9.7M	$2.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3456	−0.014%	$9.5M	$2.1M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3456	−0.014%	—	$6.5M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3454	−0.059%	$590K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3454	−0.061%	$115K	$565K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3453	−0.098%	$196K	$957K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3456	−0.012%	$406	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3456	−0.014%	$3.9M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3454	−0.065%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0172%	1h	0.3458	+0.046%	$2.3M	$1.5M	25x	as long as short
BloFin TRX-USDT	+0.0201%	8h	0.3456	−0.012%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0367% / S −0.0395%	1h	0.3456	−0.014%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0601%	1h	0.3460	+0.093%	$846K	$421K	25x	as long as short