Funding you earn now, next payment 08:00 UTC−0.0120%/8h= −13.1% APRnext payment −$1.20 per $10,000 · paid last 24h −0.013%
Price spread now: Phemex against BloFin+0.006%7-day average +0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$310.305% of the position
Funding, last 7 days−0.114%−$11 on $10k
+Price spread, last 4 days (all we have)−0.021%−$2 · spread now +0.006%, 7d avg +0.006%
=The price spread sits at its 7-day average of +0.006%, so right now this pair is about funding alone: −$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | BloFin TRX-USDT | 0.3490 | 0.0220 | pay 0.0220% / 8h | 1h 36m | $4.8M | $4.0M | 50x |
| Short | Phemex TRXUSDT | 0.3490 | 0.0100 | get 0.0100% / 8h | 1h 36m | $4.0M | $2.0M | 50x |
BloFin TRX-USDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- −$25.2
- Price spread: +0.006% → +0.006%
- −$0.06
- Slippage, 4 orders
- −$6.54
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$55.8
- Costs to cover
- 0.305%
- Break-even
- never at this rate
Slippage from BloFin: live order book, 2 min ago; Phemex: 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 BloFin live order book, 2 min ago | 0.29 bp | 6.4 bp −$6 | 6.8 bp −$68 | 14.7 bp −$1,471 | doesn't fit |
| Sell Phemex live order book, 2 min ago | 0.14 bp | 8.9 bp −$9 | 11.9 bp −$119 | 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 | 0.3489 | −0.020% | $5 | — | 20x | as long as short |
| HTX TRX-USDT | −0.0015% | 8h | 0.3485 | −0.139% | $833K | $938K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3490 | +0.012% | $183K | $12K | 10x | as long as short |
| Phoenix TRX | 0.0000% | 1h | 0.3491 | +0.014% | $5K | $14K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3490 | +0.005% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.404% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3490 | −0.011% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3490 | −0.011% | $487K | $670K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3489 | −0.017% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3490 | −0.011% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
HTX TRX-USDT
dYdX TRX-USD
Phoenix TRX
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDC
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 | 0.3493 | +0.083% | $13.3M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3489 | −0.024% | $967K | $701K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3490 | −0.004% | $107.4M | $62.5M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3489 | −0.029% | $53.6M | $12.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3489 | −0.032% | $15.6M | $10.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3490 | −0.003% | $9.7M | $3.2M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3490 | +0.003% | $19.6M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3491 | +0.014% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3489 | −0.029% | $9.8M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3489 | −0.029% | $63K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3489 | −0.032% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3489 | −0.033% | $595K | $461K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3490 | 0.000% | $116K | $582K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3489 | −0.038% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3490 | +0.006% | $412 | $5K | 5x | as long as short |
| Phemex TRXUSDTshort | +0.0100% | 8h | 0.3490 | +0.006% | $4.0M | $2.0M | 50x | |
| Extended TRX-USD | +0.0104% | 1h | 0.3489 | −0.040% | $205K | $681K | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3488 | −0.053% | $34K | — | 3x | as long as short |
| BloFin TRX-USDTlong | +0.0220% | 8h | 0.3490 | long leg | $4.8M | $4.0M | 50x | |
| Kraken Futures PF_TRXUSD | +0.0252% | 1h | 0.3490 | +0.011% | $2.4M | $1.8M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3490 | −0.005% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0733% | 1h | 0.3494 | +0.109% | $907K | $684K | 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
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL