Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.023%
Price spread now: Backpack against Bybit−0.020%45s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.153%−$15 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.020% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 45 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 | Bybit TRXUSDT | 0.3480 | 0.0100 | pay 0.0100% / 8h | 5h 22m | $53.9M | $11.3M | 75x |
| Short | Backpack TRX_USDC_PERP | 0.3479 | 0.0100 | get 0.0013% / 1h | 22m 27s | $59K | $4K | 10x |
Bybit TRXUSDT
Backpack TRX_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- $0
- Price spread: −0.020% → 0.000%
- −$2.01
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$23.01
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Backpack: no order-book sample. Net counts fees only.
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 Bybit live order book, 1 min ago | 1.44 bp | 6.9 bp −$7 | 9.6 bp −$96 | 40.9 bp −$4,085 | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
Backpack: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.
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 | 0.3479 | −0.023% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3484 | +0.129% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3480 | −0.001% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3480 | 0.000% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.109% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3480 | +0.003% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3479 | −0.006% | $485K | $664K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0097% | 8h | 0.3480 | +0.014% | $14K | $122K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3479 | −0.017% | $9K | $251 | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3482 | +0.078% | $13.1M | $2.6M | 10x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDC
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERP
Hyperliquid TRXShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | +0.0100% | 8h | 0.3480 | +0.025% | $963K | $691K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3479 | −0.006% | $105.4M | $56.4M | 75x | as long as short |
| Bybit TRXUSDTlong | +0.0100% | 8h | 0.3480 | long leg | $53.9M | $11.3M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3479 | −0.003% | $15.6M | $9.4M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3480 | +0.003% | $9.7M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3480 | +0.006% | $18.6M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3480 | 0.000% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3480 | 0.000% | $10.4M | $3.3M | 75x | as long as short |
| Backpack TRX_USDC_PERPshort | +0.0100% | 1h | 0.3479 | −0.020% | $59K | $4K | 10x | |
| Variational Omni TRX | +0.0100% | 8h | 0.3482 | +0.063% | $568K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3482 | +0.060% | $594K | $465K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3483 | +0.089% | $116K | $562K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3477 | −0.081% | $198K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3480 | 0.000% | $409 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3479 | −0.030% | $840K | $817K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3480 | +0.014% | $3.9M | $1.8M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3479 | −0.030% | $198K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3478 | −0.047% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3480 | +0.003% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3480 | +0.005% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0585% | 1h | 0.3481 | +0.042% | $2.4M | $1.7M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0773% | 1h | 0.3484 | +0.122% | $846K | $502K | 25x | as long as short |
Aster TRXUSDT
Binance TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD
Deribit TRX_USDC-PERPETUAL