Funding you earn now, next payment 22:00 UTC−0.0387%/8h= −42.4% APRpaid last 24h −0.061%
Price spread now: Binance against Deribit−0.138%7-day average −0.063% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$250.250% of the position
Funding, last 7 days−0.170%−$17 on $10k
+Price spread, last 3 days (all we have)+0.216%+$22 · spread now −0.138%, 7d avg −0.063%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and Binance is 0.076% cheaper against Deribit than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.063%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.170% in total (about -8.9% 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 | Deribit TRX_USDC-PERPETUAL | 0.3443 | 0.0386 | pay 0.0048% / 1h | 57m 35s | $828K | $409K | 25x |
| Short | Binance TRXUSDT | 0.3438 | −0.0001 | pay 0.0001% / 8h | 2h 57m | $99.2M | $49.8M | 75x |
Deribit TRX_USDC-PERPETUAL
Binance TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Deribit. 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
- −$81.34
- Price spread: −0.138% → −0.063%
- −$7.55
- Slippage, 4 orders
- −$8
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$113.89
- Costs to cover
- 0.250%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 31 min ago; Binance: live order book, 15 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 Deribit live order book, 31 min ago | 0.73 bp | 6.8 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 15 min ago | 0.14 bp | 5.9 bp −$6 | 9.4 bp −$94 | 31.9 bp −$3,189 | 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 | 0.3438 | −0.145% | $5 | — | 20x | as long as short |
| Bybit TRXUSDT | −0.0095% | 8h | 0.3438 | −0.153% | $54.7M | $8.2M | 75x | as long as short |
| BingX TRX-USDC | −0.0093% | 8h | 0.3439 | −0.132% | — | $6.5M | — | as long as short |
| Variational Omni TRX | −0.0081% | 8h | 0.3439 | −0.137% | $562K | $39K | — | as long as short |
| Backpack TRX_USDC_PERP | −0.0076% | 1h | 0.3439 | −0.112% | $58K | $7K | 10x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.048% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0056% | 8h | 0.3439 | −0.115% | $951K | $636K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3440 | −0.095% | $1K | $89K | 12x | as long as short |
| Lighter TRX | −0.0040% | 1h | 0.3438 | −0.141% | $483K | $628K | 10x | as long as short |
| HTX TRX-USDT | −0.0038% | 8h | 0.3439 | −0.133% | $826K | $704K | 75x | as long as short |
Reya TRXRUSDPERP
Bybit TRXUSDT
BingX TRX-USDC
Variational Omni TRX
Backpack TRX_USDC_PERP
Phoenix TRX
Aster TRXUSDT
Injective TRX/USDC PERP
Lighter TRX
HTX TRX-USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| SoDEX TRX-USD | −0.0026% | 1h | 0.3439 | −0.118% | $400 | $5K | 5x | as long as short |
| Binance TRXUSDTshort | −0.0001% | 8h | 0.3438 | −0.138% | $99.2M | $49.8M | 75x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | −0.075% | $181K | $10K | 10x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3438 | −0.158% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | 0.0000% | 8h | 0.3439 | −0.124% | $17.2M | $1.6M | 200x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3441 | −0.053% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0012% | 8h | 0.3438 | −0.144% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0047% | 8h | 0.3439 | −0.133% | $9K | $385 | 20x | as long as short |
| Bitget TRXUSDT | +0.0064% | 8h | 0.3438 | −0.141% | $9.4M | $2.1M | 75x | as long as short |
| KuCoin TRXUSDTM | +0.0075% | 8h | 0.3438 | −0.141% | $8.7M | $3.6M | 75x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3438 | −0.147% | $33K | — | 3x | as long as short |
| Phemex TRXUSDT | +0.0081% | 8h | 0.3440 | −0.103% | $3.8M | $1.6M | 50x | as long as short |
| Orderly PERP_TRX_USDC | +0.0086% | 8h | 0.3440 | −0.089% | $14K | $107K | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3441 | −0.053% | $1.9M | $994K | 25x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3441 | −0.066% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3439 | −0.124% | $9.7M | $2.4M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | −0.104% | $587K | $434K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | −0.054% | $115K | $543K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | −0.037% | $196K | $915K | 30x | as long as short |
| BloFin TRX-USDT | +0.0119% | 8h | 0.3440 | −0.098% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0350% / S −0.0367% | 1h | 0.3441 | −0.069% | $19K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0386% | 1h | 0.3443 | long leg | $828K | $409K | 25x |
SoDEX TRX-USD
dYdX TRX-USD
Extended TRX-USD
MEXC TRX_USDT
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
Bitget TRXUSDT
KuCoin TRXUSDTM
Aevo TRX-PERP
Phemex TRXUSDT
Orderly PERP_TRX_USDC
Kraken Futures PF_TRXUSD
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]