Funding you earn now, next payment 00:00 UTC+0.0315%/8h= +34.4% APRpaid last 24h +0.043%
Price spread now: Deribit against BloFin+0.116%57s7-day average +0.068% · 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—prices read too far apart to compare
costs, in and out, $10k−$280.277% of the position
Funding, last 7 days−0.014%−$1 on $10k
+Price spread, last 3 days (all we have)−0.083%−$8 · spread now +0.116%, 7d avg +0.068%
=Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.049% dearer against BloFin than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.068%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.014% in total (about -0.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin TRX-USDT | 0.3444 | 0.0152 | pay 0.0152% / 8h | 6m 11s | $4.6M | $4.0M | 50x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3448 | 0.0467 | get 0.0058% / 1h | 6m 11s | $832K | $417K | 25x |
BloFin TRX-USDT
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against BloFin. 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
- $66.06
- Price spread: +0.116% → +0.068%
- $4.86
- Slippage, 4 orders
- −$8.66
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $43.26
- Costs to cover
- 0.277%
- Break-even
- 2.4 days
Slippage from BloFin: live order book, 2 min ago; Deribit: live order book, 8 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 BloFin live order book, 2 min ago | 1.16 bp | 7.4 bp −$7 | 9.1 bp −$91 | 21.2 bp −$2,120 | doesn't fit |
| Sell Deribit live order book, 8 min ago | 1.89 bp | 5.9 bp −$6 | doesn't fit | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.081% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3443 | −0.013% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0095% | 8h | 0.3444 | 0.000% | $8.7M | $3.6M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3444 | +0.020% | $5K | $13K | 10x | as long as short |
| Backpack TRX_USDC_PERP | −0.0066% | 1h | 0.3444 | 0.000% | $58K | $4K | 10x | as long as short |
| Variational Omni TRX | −0.0018% | 8h | 0.3443 | −0.022% | $563K | $36K | — | as long as short |
| HTX TRX-USDT | −0.0018% | 8h | 0.3444 | +0.006% | $827K | $732K | 75x | as long as short |
| Bybit TRXUSDT | −0.0008% | 8h | 0.3444 | +0.006% | $54.7M | $8.0M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3444 | +0.017% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3445 | +0.046% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Backpack TRX_USDC_PERP
Variational Omni TRX
HTX TRX-USDT
Bybit TRXUSDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0032% | 8h | 0.3444 | −0.003% | $15.6M | $8.8M | 50x | as long as short |
| MEXC TRX_USDT | +0.0038% | 8h | 0.3444 | +0.009% | $18.2M | $1.9M | 200x | as long as short |
| Binance TRXUSDT | +0.0039% | 8h | 0.3444 | +0.020% | $99.3M | $48.1M | 75x | as long as short |
| Extended TRX-USD | +0.0040% | 1h | 0.3443 | −0.018% | $196K | $1.1M | 25x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3446 | +0.051% | $1.9M | $1.0M | 25x | as long as short |
| Paradex TRX-USD-PERP | +0.0075% | 8h | 0.3444 | −0.006% | $9K | $385 | 20x | as long as short |
| Lighter TRX | +0.0080% | 1h | 0.3444 | −0.003% | $482K | $630K | 10x | as long as short |
| Aster TRXUSDT | +0.0081% | 8h | 0.3445 | +0.027% | $956K | $660K | 75x | as long as short |
| Gate TRX_USDT | +0.0082% | 8h | 0.3444 | +0.015% | $9.6M | $2.5M | 75x | as long as short |
| SoDEX TRX-USD | +0.0084% | 1h | 0.3444 | +0.006% | $402 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0086% | 8h | 0.3444 | +0.006% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3443 | −0.013% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3444 | −0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3446 | +0.067% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3444 | +0.012% | $9.5M | $2.2M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3444 | −0.003% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | −0.041% | $588K | $442K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3443 | −0.017% | $115K | $569K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.013% | $196K | $932K | 30x | as long as short |
| BloFin TRX-USDTlong | +0.0152% | 8h | 0.3444 | long leg | $4.6M | $4.0M | 50x | |
| GMX TRX/USD [ETH-USDC] | L +0.0367% / S −0.0395% | 1h | 0.3445 | +0.025% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0467% | 1h | 0.3448 | +0.116% | $832K | $417K | 25x |
OKX TRX-USDT-SWAP
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
Kraken Futures PF_TRXUSD
Paradex TRX-USD-PERP
Lighter TRX
Aster TRXUSDT
Gate TRX_USDT
SoDEX TRX-USD
Phemex TRXUSDT
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]