Funding you earn now, next payment 08:00 UTC+0.0030%/8h= +3.3% APRnext payment +$0.30 per $10,000 · paid last 24h +0.012%
Price spread now: Phemex against BingX+0.009%7-day average +0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$29as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$280.280% of the position
Funding, last 7 days−0.005%−$1 on $10k
+Price spread, last 4 days (all we have)−0.036%−$4 · spread now +0.009%, 7d avg +0.014%
=The price spread sits at its 7-day average of +0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BingX TRX-USDC | 0.3483 | 0.0070 | pay 0.0070% / 8h | 2h 39m | — | $6.5M | — |
| Short | Phemex TRXUSDT | 0.3483 | 0.0100 | get 0.0100% / 8h | 2h 39m | $4.0M | $1.9M | 50x |
BingX TRX-USDC
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $6.3
- Price spread: +0.009% → +0.014%
- −$0.54
- Slippage, 4 orders
- −$6.03
- Fee BingX: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$22.27
- Costs to cover
- 0.280%
- Break-even
- 31.7 days
Slippage from BingX: live order book, 6 min ago; Phemex: live order book, 4 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, 6 min ago | 0.72 bp | 7.0 bp −$7 | 29.1 bp −$291 | 230.0 bp −$23.0K | 839.5 bp −$419.7K |
| Sell Phemex live order book, 4 min ago | 0.14 bp | 7.0 bp −$7 | 13.4 bp −$134 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3481 | −0.071% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3486 | +0.069% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3483 | +0.001% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3482 | −0.027% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.212% | $1K | $163K | 12x | as long as short |
| HTX TRX-USDT | +0.0051% | 8h | 0.3480 | −0.083% | $827K | $918K | 75x | as long as short |
| BingX TRX-USDClong | +0.0070% | 8h | 0.3483 | long leg | — | $6.5M | — | |
| Lighter TRX | +0.0096% | 1h | 0.3484 | +0.017% | $487K | $671K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3484 | +0.010% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3483 | −0.020% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
HTX TRX-USDT
Lighter TRX
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDCShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3487 | +0.100% | $13.2M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3484 | +0.020% | $964K | $698K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3484 | +0.017% | $107.0M | $62.3M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3482 | −0.032% | $53.9M | $12.0M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3483 | 0.000% | $15.5M | $10.3M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3483 | −0.017% | $9.7M | $3.1M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3484 | +0.014% | $18.9M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3483 | −0.006% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3482 | −0.026% | $9.9M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3483 | −0.020% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3482 | −0.036% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | +0.087% | $594K | $473K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3486 | +0.092% | $116K | $581K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3481 | −0.058% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3483 | −0.006% | $409 | $5K | 5x | as long as short |
| Phemex TRXUSDTshort | +0.0100% | 8h | 0.3483 | +0.009% | $4.0M | $1.9M | 50x | |
| Extended TRX-USD | +0.0104% | 1h | 0.3482 | −0.035% | $195K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3481 | −0.056% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3483 | −0.009% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3482 | −0.026% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0415% | 1h | 0.3484 | +0.013% | $2.4M | $1.8M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0665% | 1h | 0.3488 | +0.130% | $902K | $643K | 25x | as long as short |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD
Deribit TRX_USDC-PERPETUAL