Funding you earn now, next payment 03:00 UTC+0.0485%/8h= +53.1% APRpaid last 24h +0.041%
Price spread now: Kraken Futures against Bybit+0.030%7-day average +0.048% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$350.351% of the position
Funding, last 7 days−0.003%$0 on $10k
+Price spread, last 4 days (all we have)−0.141%−$14 · spread now +0.030%, 7d avg +0.048%
=The price spread sits at its 7-day average of +0.048%, so right now this pair is about funding alone: +$15 a day on $10k at the current rate.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.003% in total (about -0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3476 | 0.0100 | pay 0.0100% / 8h | 5h 14m | $53.8M | $11.4M | 75x |
| Short | Kraken Futures PF_TRXUSD | 0.3477 | 0.0585 | get 0.0073% / 1h | 14m 52s | $2.4M | $1.7M | 25x |
Bybit TRXUSDT
Kraken Futures PF_TRXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures 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
- $101.91
- Price spread: +0.030% → +0.048%
- −$1.85
- Slippage, 4 orders
- −$14.13
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $64.93
- Costs to cover
- 0.351%
- Break-even
- 2.5 days
Slippage from Bybit: live order book, 4 min ago; Kraken Futures: live order book, 4 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 | 1.44 bp | 9.3 bp −$9 | 11.8 bp −$118 | 44.1 bp −$4,409 | doesn't fit |
| Sell Kraken Futures live order book, 4 min ago | 3.31 bp | 10.6 bp −$11 | 18.1 bp −$181 | 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 | 0.3476 | +0.010% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3478 | +0.046% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3478 | +0.066% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3477 | +0.035% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.007% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3476 | +0.003% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3476 | −0.006% | $485K | $664K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0097% | 8h | 0.3477 | +0.017% | $14K | $122K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3477 | +0.017% | $9K | $251 | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3479 | +0.083% | $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 | 0.3477 | +0.037% | $962K | $691K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3476 | 0.000% | $105.3M | $57.9M | 75x | as long as short |
| Bybit TRXUSDTlong | +0.0100% | 8h | 0.3476 | long leg | $53.8M | $11.4M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3476 | +0.012% | $15.6M | $9.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3476 | −0.003% | $9.7M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3476 | +0.009% | $18.6M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3477 | +0.032% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3476 | +0.003% | $10.4M | $3.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3476 | −0.009% | $59K | $4K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3476 | −0.005% | $568K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3475 | −0.028% | $593K | $472K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3475 | −0.023% | $116K | $561K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3474 | −0.050% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3476 | +0.003% | $408 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3475 | −0.032% | $839K | $828K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3477 | +0.032% | $3.9M | $1.8M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3475 | −0.024% | $198K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3475 | −0.039% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3477 | +0.037% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0403% / S −0.0481% | 1h | 0.3478 | +0.043% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0585% | 1h | 0.3477 | +0.030% | $2.4M | $1.7M | 25x | |
| Deribit TRX_USDC-PERPETUAL | +0.0644% | 1h | 0.3481 | +0.130% | $845K | $502K | 25x | as long as short |
Aster TRXUSDT
Binance 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
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL