Funding you earn now, next payment 00:00 UTC−0.0038%/8h= −4.2% APRpaid last 24h +0.048%
Price spread now: Kraken Futures against BingX+0.054%7-day average +0.032% · you sell dearer than you buy
Net, funding: paid 7d − costs−$49as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$330.334% of the position
Funding, last 7 days−0.153%−$15 on $10k
+Price spread, last 3 days (all we have)−0.101%−$10 · spread now +0.054%, 7d avg +0.032%
=The price spread pays, funding is against you. Kraken Futures is 0.021% dearer against BingX than usual: you sell high and buy low (spread +0.054% now, against its 7-day average of +0.032%): +$2 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 45 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX TRX-USDC | 0.3442 | 0.0100 | pay 0.0100% / 8h | 56m 13s | — | $6.5M | — |
| Short | Kraken Futures PF_TRXUSD | 0.3443 | 0.0062 | get 0.0008% / 1h | 56m 13s | $1.9M | $1.0M | 25x |
BingX TRX-USDC
Kraken Futures PF_TRXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against BingX. 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
- −$7.97
- Price spread: +0.054% → +0.032%
- $2.13
- Slippage, 4 orders
- −$13.44
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- −$39.28
- Costs to cover
- 0.334%
- Break-even
- never at this rate
Slippage from BingX: live order book, 5 min ago; Kraken Futures: 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 BingX live order book, 5 min ago | 0.73 bp | 7.5 bp −$7 | 23.3 bp −$233 | 239.1 bp −$23.9K | 839.7 bp −$419.8K |
| Sell Kraken Futures live order book, 2 min ago | 1.16 bp | 9.8 bp −$10 | 15.7 bp −$157 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack TRX_USDC_PERP | −0.0149% | 1h | 0.3441 | −0.006% | $58K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.017% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3441 | −0.010% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3441 | −0.009% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | +0.012% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0064% | 8h | 0.3439 | −0.075% | $562K | $38K | — | as long as short |
| Bybit TRXUSDT | −0.0044% | 8h | 0.3442 | 0.000% | $54.6M | $8.1M | 75x | as long as short |
| SoDEX TRX-USD | −0.0026% | 1h | 0.3442 | +0.003% | $400 | $5K | 5x | as long as short |
| HTX TRX-USDT | −0.0026% | 8h | 0.3440 | −0.040% | $826K | $723K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | +0.026% | $181K | $10K | 10x | as long as short |
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
SoDEX TRX-USD
HTX TRX-USDT
dYdX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0003% | 8h | 0.3442 | +0.009% | $15.6M | $8.7M | 50x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3443 | +0.050% | $121K | — | 150x | as long as short |
| MEXC TRX_USDT | +0.0020% | 8h | 0.3442 | +0.003% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0021% | 8h | 0.3442 | +0.009% | $99.3M | $47.8M | 75x | as long as short |
| Lighter TRX | +0.0024% | 1h | 0.3441 | −0.006% | $482K | $630K | 10x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3441 | −0.014% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0027% | 8h | 0.3443 | +0.030% | $955K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0048% | 8h | 0.3441 | −0.010% | $9K | $385 | 20x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0062% | 1h | 0.3443 | +0.054% | $1.9M | $1.0M | 25x | |
| Phemex TRXUSDT | +0.0075% | 8h | 0.3442 | +0.015% | $3.8M | $1.6M | 50x | as long as short |
| BloFin TRX-USDT | +0.0082% | 8h | 0.3441 | −0.017% | $4.6M | $4.0M | 50x | as long as short |
| Gate TRX_USDT | +0.0085% | 8h | 0.3442 | +0.017% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3440 | −0.043% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3441 | −0.009% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3444 | +0.061% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3442 | +0.017% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDClong | +0.0100% | 8h | 0.3442 | long leg | — | $6.5M | — | |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | −0.034% | $587K | $429K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.046% | $115K | $556K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.065% | $196K | $917K | 30x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0226% | 1h | 0.3445 | +0.099% | $832K | $411K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | +0.033% | $20K | — | 100x | as long as short |
OKX TRX-USDT-SWAP
gTrade (Gains Network) TRX/USD
MEXC TRX_USDT
Binance TRXUSDT
Lighter TRX
Extended TRX-USD
Aster TRXUSDT
Paradex TRX-USD-PERP
Phemex TRXUSDT
BloFin TRX-USDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]