Funding you earn now, next payment 00:00 UTC+0.0049%/8h= +5.4% APRnext payment +$0.49 per $10,000 · paid last 24h +0.005%
Price spread now: Binance against Bybit+0.001%7-day average +0.022% · you sell dearer than you buy
Net, funding: paid 7d − costs−$23as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$270.273% of the position
Funding, last 7 days+0.042%+$4 on $10k
+Price spread, last 7 days+0.019%+$2 · spread now +0.001%, 7d avg +0.022%
=Funding pays, the price is against you. Binance is 0.021% cheaper against Bybit than usual: you would sell low and buy high (spread +0.001% now, against its 7-day average of +0.022%). If the spread goes back, that is −$2 on $10k: about 34 hours of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.042% in total) that is about 3.5 days.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3443 | −0.0012 | get 0.0012% / 8h | 9m 44s | $54.6M | $8.0M | 75x |
| Short | Binance TRXUSDT | 0.3443 | 0.0038 | get 0.0038% / 8h | 9m 44s | $99.3M | $47.8M | 75x |
Bybit TRXUSDT
Binance TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance 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
- $10.37
- Price spread: +0.001% → +0.022%
- −$2.09
- Slippage, 4 orders
- −$6.27
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$18.99
- Costs to cover
- 0.273%
- Break-even
- 19.8 days
Slippage from Bybit: live order book, 4 min ago; Binance: live order book, 3 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 Bybit live order book, 4 min ago | 1.45 bp | 8.8 bp −$9 | 10.7 bp −$107 | 35.8 bp −$3,580 | doesn't fit |
| Sell Binance live order book, 3 min ago | 0.14 bp | 6.4 bp −$6 | 9.6 bp −$96 | 30.8 bp −$3,082 | 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 | −0.058% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3443 | −0.007% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0094% | 8h | 0.3443 | +0.003% | $8.7M | $3.6M | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0075% | 1h | 0.3443 | +0.003% | $58K | $4K | 10x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3444 | +0.032% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0023% | 8h | 0.3442 | −0.029% | $563K | $36K | — | as long as short |
| HTX TRX-USDT | −0.0019% | 8h | 0.3443 | 0.000% | $827K | $732K | 75x | as long as short |
| Bybit TRXUSDTlong | −0.0012% | 8h | 0.3443 | long leg | $54.6M | $8.0M | 75x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3444 | +0.040% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | +0.041% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
Phoenix TRX
Variational Omni TRX
HTX TRX-USDT
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 | +0.0029% | 8h | 0.3443 | −0.009% | $15.6M | $8.8M | 50x | as long as short |
| MEXC TRX_USDT | +0.0036% | 8h | 0.3443 | +0.015% | $18.2M | $1.9M | 200x | as long as short |
| Binance TRXUSDTshort | +0.0038% | 8h | 0.3443 | +0.001% | $99.3M | $47.8M | 75x | |
| Extended TRX-USD | +0.0040% | 1h | 0.3442 | −0.022% | $196K | $1.1M | 25x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3445 | +0.048% | $1.9M | $1.0M | 25x | as long as short |
| Paradex TRX-USD-PERP | +0.0074% | 8h | 0.3442 | −0.019% | $9K | $385 | 20x | as long as short |
| Aster TRXUSDT | +0.0077% | 8h | 0.3443 | +0.003% | $956K | $660K | 75x | as long as short |
| Lighter TRX | +0.0080% | 1h | 0.3443 | −0.006% | $482K | $630K | 10x | as long as short |
| Gate TRX_USDT | +0.0082% | 8h | 0.3443 | +0.009% | $9.6M | $2.5M | 75x | as long as short |
| SoDEX TRX-USD | +0.0085% | 1h | 0.3443 | +0.012% | $399 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0085% | 8h | 0.3444 | +0.017% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.045% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3443 | −0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3445 | +0.052% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | +0.009% | $9.5M | $2.2M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3443 | +0.003% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3443 | −0.005% | $588K | $441K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3444 | +0.020% | $115K | $568K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.026% | $196K | $927K | 30x | as long as short |
| BloFin TRX-USDT | +0.0147% | 8h | 0.3443 | +0.006% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3444 | +0.020% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0519% | 1h | 0.3447 | +0.117% | $832K | $417K | 25x | as long as short |
OKX TRX-USDT-SWAP
MEXC TRX_USDT
Extended TRX-USD
Kraken Futures PF_TRXUSD
Paradex TRX-USD-PERP
Aster TRXUSDT
Lighter TRX
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
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL