Funding you earn now, next payment 08:00 UTC−0.0001%/8h= −0.1% APRnext payment −$0.01 per $10,000 · paid last 24h +0.027%
Price spread now: Orderly against Bybit+0.043%7-day average +0.017% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.261%+$26 on $10k
+Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.043%, 7d avg +0.017%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.026% dearer against Bybit than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.017%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3485 | 0.0100 | pay 0.0100% / 8h | 3h 12m | $53.9M | $12.0M | 75x |
| Short | Orderly PERP_TRX_USDC | 0.3487 | 0.0099 | get 0.0099% / 8h | 3h 12m | $14K | $60K | 20x |
Bybit TRXUSDT
Orderly PERP_TRX_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$0.13
- Price spread: +0.043% → +0.017%
- $2.65
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$14.48
- Costs to cover
- 0.170%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 1 min ago; Orderly: 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 | 1.43 bp | 8.3 bp −$8 | 11.5 bp −$115 | 42.6 bp −$4,261 | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | 0.3486 | +0.041% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3488 | +0.086% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | +0.040% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3487 | +0.047% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.263% | $1K | $163K | 12x | as long as short |
| HTX TRX-USDT | +0.0070% | 8h | 0.3485 | 0.000% | $825K | $890K | 75x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3486 | +0.014% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3485 | −0.003% | $486K | $671K | 10x | as long as short |
| Orderly PERP_TRX_USDCshort | +0.0099% | 8h | 0.3487 | +0.043% | $14K | $60K | 20x | |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3486 | +0.039% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
HTX TRX-USDT
BingX TRX-USDC
Lighter TRX
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 | 0.3488 | +0.095% | $13.2M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3486 | +0.032% | $965K | $698K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3485 | +0.003% | $106.2M | $61.6M | 75x | as long as short |
| Bybit TRXUSDTlong | +0.0100% | 8h | 0.3485 | long leg | $53.9M | $12.0M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3486 | +0.017% | $15.6M | $10.3M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3486 | +0.040% | $9.7M | $3.0M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3485 | +0.009% | $19.0M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3485 | +0.003% | $8.5M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3486 | +0.020% | $10.6M | $3.5M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3485 | −0.011% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3485 | −0.003% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | +0.035% | $594K | $471K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3486 | +0.040% | $116K | $579K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3485 | +0.003% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3486 | +0.014% | $409 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3486 | +0.034% | $3.9M | $1.9M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3484 | −0.022% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3484 | −0.014% | $34K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0144% | 1h | 0.3486 | +0.042% | $2.4M | $1.7M | 25x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3485 | +0.011% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0491% | 1h | 0.3487 | +0.043% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0651% | 1h | 0.3490 | +0.134% | $843K | $548K | 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
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL