Funding you earn now, next payment 08:00 UTC−0.0210%/8h= −23.0% APRpaid last 24h −0.117%
Price spread now: Bybit against Deribit−0.079%7-day average −0.093% · you buy dearer than you sell
Net, funding: paid 7d − costs−$58as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$300.299% of the position
Funding, last 7 days−0.279%−$28 on $10k
+Price spread, last 4 days (all we have)+0.029%+$3 · spread now −0.079%, 7d avg −0.093%
=The price spread sits at its 7-day average of −0.093%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TRX_USDC-PERPETUAL | 0.3485 | 0.0310 | pay 0.0039% / 1h | 14m 43s | $860K | $757K | 25x |
| Short | Bybit TRXUSDT | 0.3482 | 0.0100 | get 0.0100% / 8h | 14m 43s | $53.5M | $12.7M | 75x |
Deribit TRX_USDC-PERPETUAL
Bybit TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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
- −$44.08
- Price spread: −0.079% → −0.093%
- $1.34
- Slippage, 4 orders
- −$11.86
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$72.6
- Costs to cover
- 0.299%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 24 min ago; Bybit: 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 Deribit live order book, 24 min ago | 3.15 bp | 6.7 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bybit live order book, 4 min ago | 1.44 bp | 6.9 bp −$7 | 10.2 bp −$102 | 44.4 bp −$4,442 | 208.0 bp −$104.0K |
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 | 0.3480 | −0.130% | $5 | — | 20x | as long as short |
| HTX TRX-USDT | −0.0084% | 8h | 0.3479 | −0.152% | $834K | $958K | 75x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3483 | −0.054% | $5K | $13K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3481 | −0.098% | $182K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3483 | −0.059% | $126K | — | 150x | as long as short |
| SoDEX TRX-USD | +0.0014% | 1h | 0.3481 | −0.105% | $407 | $5K | 5x | as long as short |
| Backpack TRX_USDC_PERP | +0.0020% | 1h | 0.3481 | −0.105% | $62K | $5K | 10x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.256% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3481 | −0.097% | — | $6.5M | — | as long as short |
| Paradex TRX-USD-PERP | +0.0086% | 8h | 0.3481 | −0.106% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
HTX TRX-USDT
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
SoDEX TRX-USD
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
BingX TRX-USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TRX | +0.0096% | 1h | 0.3481 | −0.097% | $487K | $674K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3481 | −0.108% | $14K | $63K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3485 | +0.005% | $13.4M | $2.8M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3480 | −0.126% | $972K | $714K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3482 | −0.088% | $106.9M | $64.9M | 75x | as long as short |
| Bybit TRXUSDTshort | +0.0100% | 8h | 0.3482 | −0.079% | $53.5M | $12.7M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3481 | −0.097% | $15.6M | $10.9M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3482 | −0.088% | $9.6M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3481 | −0.097% | $19.1M | $2.4M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3483 | −0.059% | $8.5M | $3.3M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3480 | −0.128% | $9.8M | $4.4M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3480 | −0.138% | $569K | $30K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3481 | −0.118% | $594K | $510K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3483 | −0.057% | $116K | $604K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3479 | −0.151% | $198K | $1.4M | 30x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3482 | −0.079% | $3.9M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3480 | −0.125% | $206K | $1.2M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3480 | −0.138% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3481 | −0.102% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0296% | 1h | 0.3483 | −0.065% | $2.3M | $1.9M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0310% | 1h | 0.3485 | long leg | $860K | $757K | 25x | |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3482 | −0.069% | $20K | — | 100x | as long as short |
Lighter TRX
Orderly PERP_TRX_USDC
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
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]