Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.001%
Price spread now: Injective against Bybit−0.893%7-day average −0.206% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.241%+$24 on $10k
+Price spread, last 4 days (all we have)+0.804%+$80 · spread now −0.893%, 7d avg −0.206%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.687% cheaper against Bybit than usual: you would sell low and buy high (−$69 if the spread goes back to its 7-day average of −0.206%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.241%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3472 | 0.0100 | pay 0.0100% / 8h | 4h 52m | $53.7M | $11.6M | 75x |
| Short | Injective TRX/USDC PERP | 0.3441 | 0.0033 | get 0.0004% / 1h | 52m 42s | $1K | $163K | 12x |
Bybit TRXUSDT
Injective TRX/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$14
- Price spread: −0.893% → −0.206%
- −$68.73
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$93.75
- Costs to cover
- 0.110%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Injective: 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 | 8.4 bp −$8 | 12.1 bp −$121 | 43.4 bp −$4,344 | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
Injective: 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 | 0.3473 | +0.020% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3474 | +0.063% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3473 | +0.025% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3474 | +0.053% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERPshort | +0.0033% | 1h | 0.3441 | −0.893% | $1K | $163K | 12x | |
| BingX TRX-USDC | +0.0070% | 8h | 0.3473 | +0.040% | — | $6.5M | — | as long as short |
| Backpack TRX_USDC_PERP | +0.0078% | 1h | 0.3473 | +0.020% | $62K | $5K | 10x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3473 | +0.035% | $484K | $664K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0098% | 8h | 0.3473 | +0.029% | $15K | $108K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3473 | +0.018% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
BingX TRX-USDC
Backpack TRX_USDC_PERP
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3476 | +0.118% | $13.1M | $2.6M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3473 | +0.027% | $962K | $694K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3473 | +0.031% | $105.1M | $58.3M | 75x | as long as short |
| Bybit TRXUSDTlong | +0.0100% | 8h | 0.3472 | long leg | $53.7M | $11.6M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3473 | +0.020% | $15.5M | $9.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3473 | +0.035% | $9.6M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3473 | +0.040% | $18.8M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3474 | +0.060% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3474 | +0.052% | $10.3M | $3.3M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3472 | −0.002% | $568K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3472 | +0.005% | $592K | $471K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3473 | +0.043% | $116K | $565K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3473 | +0.023% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3473 | +0.037% | $406 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3473 | +0.026% | $835K | $839K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3473 | +0.040% | $3.9M | $1.8M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3472 | +0.010% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3472 | −0.014% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3473 | +0.037% | $4.7M | $3.9M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0261% | 1h | 0.3474 | +0.056% | $2.4M | $1.7M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3474 | +0.045% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0467% | 1h | 0.3477 | +0.131% | $844K | $503K | 25x | as long as short |
Hyperliquid TRX
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
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL