Funding you earn now, next payment 00:00 UTC+0.0119%/8h= +13.0% APRnext payment +$1.19 per $10,000 · paid last 24h +0.024%
Price spread now: Phemex against Bybit+0.015%7-day average +0.029% · you sell dearer than you buy
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$30as in the Price arb table
costs, in and out, $10k−$290.290% of the position
Funding, last 7 days+0.139%+$14 on $10k
+Price spread, last 3 days (all we have)−0.025%−$3 · spread now +0.015%, 7d avg +0.029%
=The price spread sits at its 7-day average of +0.029%, so right now this pair is about funding alone: +$4 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3442 | −0.0044 | get 0.0044% / 8h | 56m 16s | $54.6M | $8.1M | 75x |
| Short | Phemex TRXUSDT | 0.3442 | 0.0075 | get 0.0075% / 8h | 56m 16s | $3.8M | $1.6M | 50x |
Bybit TRXUSDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $24.93
- Price spread: +0.015% → +0.029%
- −$1.42
- Slippage, 4 orders
- −$6
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$5.49
- Costs to cover
- 0.290%
- Break-even
- 8.5 days
Slippage from Bybit: live order book, 3 min ago; Phemex: live order book, 2 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, 3 min ago | 1.45 bp | 8.3 bp −$8 | 11.7 bp −$117 | 40.9 bp −$4,093 | doesn't fit |
| Sell Phemex live order book, 2 min ago | 0.14 bp | 7.0 bp −$7 | 13.7 bp −$137 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack TRX_USDC_PERP | −0.0149% | 1h | 0.3441 | −0.006% | $58K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.017% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3441 | −0.010% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3441 | −0.009% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | +0.012% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0064% | 8h | 0.3439 | −0.075% | $562K | $38K | — | as long as short |
| Bybit TRXUSDTlong | −0.0044% | 8h | 0.3442 | long leg | $54.6M | $8.1M | 75x | |
| SoDEX TRX-USD | −0.0026% | 1h | 0.3442 | +0.003% | $400 | $5K | 5x | as long as short |
| HTX TRX-USDT | −0.0026% | 8h | 0.3440 | −0.040% | $826K | $723K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | +0.026% | $181K | $10K | 10x | as long as short |
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
SoDEX TRX-USD
HTX TRX-USDT
dYdX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0003% | 8h | 0.3442 | +0.009% | $15.6M | $8.7M | 50x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3443 | +0.050% | $121K | — | 150x | as long as short |
| MEXC TRX_USDT | +0.0020% | 8h | 0.3442 | +0.003% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0021% | 8h | 0.3442 | +0.009% | $99.3M | $47.8M | 75x | as long as short |
| Lighter TRX | +0.0024% | 1h | 0.3441 | −0.006% | $482K | $630K | 10x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3441 | −0.014% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0027% | 8h | 0.3443 | +0.030% | $955K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0048% | 8h | 0.3441 | −0.010% | $9K | $385 | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3443 | +0.054% | $1.9M | $1.0M | 25x | as long as short |
| Phemex TRXUSDTshort | +0.0075% | 8h | 0.3442 | +0.015% | $3.8M | $1.6M | 50x | |
| BloFin TRX-USDT | +0.0082% | 8h | 0.3441 | −0.017% | $4.6M | $4.0M | 50x | as long as short |
| Gate TRX_USDT | +0.0085% | 8h | 0.3442 | +0.017% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3440 | −0.043% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3441 | −0.009% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3444 | +0.061% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3442 | +0.017% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3442 | 0.000% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | −0.034% | $587K | $429K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.046% | $115K | $556K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.065% | $196K | $917K | 30x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0226% | 1h | 0.3445 | +0.099% | $832K | $411K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | +0.033% | $20K | — | 100x | as long as short |
OKX TRX-USDT-SWAP
gTrade (Gains Network) TRX/USD
MEXC TRX_USDT
Binance TRXUSDT
Lighter TRX
Extended TRX-USD
Aster TRXUSDT
Paradex TRX-USD-PERP
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]