Funding you earn now, next payment 00:00 UTC−0.0405%/8h= −44.3% APRnext payment −$0.51 per $10,000 · paid last 24h −0.056%
Price spread now: gTrade (Gains Network) against Deribit−0.067%7-day average −0.044% · you buy dearer than you sell
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$283as in the Price arb table
costs, in and out, $10k−$2812.805% of the position
Funding, last 3 days (all we have)−0.102%−$10 on $10k
+Price spread, last 3 days (all we have)+0.057%+$6 · spread now −0.067%, 7d avg −0.044%
=Both sides work against this trade now: funding costs −$12 a day on $10k at the current rate, and gTrade (Gains Network) is 0.023% cheaper against Deribit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of −0.044%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.102% in total (about -11.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.51 per $10,000. 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 | 0.3446 | 0.0412 | pay 0.0052% / 1h | 54m 18s | $829K | $414K | 25x |
| Short | gTrade (Gains Network) TRX/USD | 0.3444 | L +0.0003% / S −0.0007% | get 0.0001% / 1h | 54m 18s | $121K | — | 150x |
Deribit TRX_USDC-PERPETUAL
gTrade (Gains Network) TRX/USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
gTrade (Gains Network) 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
- −$85.03
- Price spread: −0.067% → −0.044%
- −$2.33
- Slippage, 4 orders
- −$263.55
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Net
- −$367.91
- Costs to cover
- 2.805%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 25 min ago; gTrade (Gains Network): virtual book (oracle venue), 25 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, 25 min ago | 0.73 bp | 5.1 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell gTrade (Gains Network) virtual book (oracle venue), 25 min ago | 130.02 bp | 135.0 bp −$135 | 205.2 bp −$2,052 | 2197.0 bp −$219.7K | 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 | −0.0150% | 1h | 0.3442 | −0.126% | $58K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.147% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3442 | −0.119% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3442 | −0.118% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.118% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0060% | 8h | 0.3440 | −0.175% | $563K | $38K | — | as long as short |
| Bybit TRXUSDT | −0.0042% | 8h | 0.3442 | −0.118% | $54.6M | $8.1M | 75x | as long as short |
| HTX TRX-USDT | −0.0027% | 8h | 0.3440 | −0.172% | $826K | $723K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | −0.103% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USDshort | L +0.0003% / S −0.0007% | 1h | 0.3444 | −0.067% | $121K | — | 150x |
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
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 | 0.3443 | −0.103% | $15.6M | $8.7M | 50x | as long as short |
| MEXC TRX_USDT | +0.0021% | 8h | 0.3443 | −0.100% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0021% | 8h | 0.3442 | −0.103% | $99.3M | $47.8M | 75x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3442 | −0.125% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0030% | 8h | 0.3442 | −0.111% | $955K | $659K | 75x | as long as short |
| Lighter TRX | +0.0040% | 1h | 0.3442 | −0.118% | $482K | $630K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0050% | 8h | 0.3442 | −0.124% | $9K | $385 | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3444 | −0.070% | $1.9M | $1.0M | 25x | as long as short |
| Phemex TRXUSDT | +0.0075% | 8h | 0.3442 | −0.106% | $3.8M | $1.6M | 50x | as long as short |
| BloFin TRX-USDT | +0.0085% | 8h | 0.3442 | −0.129% | $4.6M | $4.0M | 50x | as long as short |
| SoDEX TRX-USD | +0.0085% | 1h | 0.3442 | −0.106% | $403 | $5K | 5x | as long as short |
| Gate TRX_USDT | +0.0086% | 8h | 0.3443 | −0.094% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.158% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3442 | −0.123% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3444 | −0.068% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3442 | −0.106% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3442 | −0.129% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | −0.159% | $587K | $429K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.173% | $115K | $556K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | −0.046% | $196K | $918K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | −0.088% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0412% | 1h | 0.3446 | long leg | $829K | $414K | 25x |
OKX TRX-USDT-SWAP
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
Aster TRXUSDT
Lighter TRX
Paradex TRX-USD-PERP
Kraken Futures PF_TRXUSD
Phemex TRXUSDT
BloFin TRX-USDT
SoDEX TRX-USD
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]