Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.039%

Price spread now: HTX against Bybit−0.039%53s7-day average −0.018% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as 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−$380.377% of the position

Long on Bybit Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.248%−$25 on $10k

Price spread, last 4 days (all we have)−0.107%−$11 · spread now −0.039%, 7d avg −0.018%

Together, before fees−0.354%−$35 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: HTX is 0.021% cheaper against Bybit than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.018%. The two prices were read 53 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	0.3474	0.0100	pay 0.0100% / 8h	5h 13m	$53.8M	$11.4M	75x
Short	HTX TRX-USDT	0.3473	0.0100	get 0.0100% / 8h	5h 13m	$838K	$828K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee BybitbpFee HTXbpOrdersPrice spread, now −0.039%Rate

Funding earned: $0
Price spread: −0.039% → −0.018%: −$2.12
Slippage, 4 orders: −$14.69
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee HTX: 6 bp × 2 orders: −$12
Net: −$39.81
Costs to cover: 0.377%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; HTX: live order book, 50 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, 5 min ago	1.44 bp	9.3 bp −$9	11.8 bp −$118	44.1 bp −$4,409	doesn't fit
Sell HTX live order book, 50 min ago	4.33 bp	10.4 bp −$10	14.7 bp −$147	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	0.3474	+0.007%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3478	+0.098%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3477	+0.066%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3475	+0.027%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.956%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3475	+0.020%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3475	+0.017%	$485K	$664K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0098%	8h	0.3474	+0.009%	$14K	$122K	20x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3474	+0.004%	$9K	$251	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3478	+0.095%	$13.1M	$2.6M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRXUSDT	+0.0100%	8h	0.3475	+0.009%	$961K	$691K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3475	+0.026%	$105.1M	$57.9M	75x	as long as short
Bybit TRXUSDTlong	+0.0100%	8h	0.3474	long leg	$53.8M	$11.4M	75x
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3475	+0.017%	$15.5M	$9.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3475	+0.023%	$9.7M	$2.9M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3475	+0.023%	$18.6M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3475	+0.023%	$8.6M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3476	+0.037%	$10.3M	$3.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3474	−0.009%	$59K	$4K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3476	+0.047%	$568K	$36K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3475	+0.023%	$593K	$472K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3475	+0.029%	$116K	$561K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3473	−0.033%	$197K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3475	+0.017%	$411	$5K	5x	as long as short
HTX TRX-USDTshort	+0.0100%	8h	0.3473	−0.039%	$838K	$828K	75x
Phemex TRXUSDT	+0.0100%	8h	0.3476	+0.052%	$3.9M	$1.8M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3474	−0.005%	$198K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3473	−0.037%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3477	+0.089%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0403% / S −0.0481%	1h	0.3475	+0.031%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0586%	1h	0.3475	+0.037%	$2.4M	$1.7M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0619%	1h	0.3478	+0.122%	$845K	$502K	25x	as long as short