Funding you earn now, next payment 22:00 UTC−0.0360%/8h= −39.4% APRnext payment −$0.45 per $10,000 · paid last 24h −0.030%
Price spread now: Lighter against Deribit−0.141%7-day average −0.068% · you buy dearer than you sell
Net, funding: paid 7d − costs−$27as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$210.213% of the position
Funding, last 7 days−0.057%−$6 on $10k
+Price spread, last 3 days (all we have)+0.162%+$16 · spread now −0.141%, 7d avg −0.068%
=Together, before fees+0.104%+ Points / potential airdropLighter: Season 3 · farm board+$10 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Lighter is 0.073% cheaper against Deribit than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.068%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.057% in total (about -3.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.45 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 | 0.3442 | 0.0352 | pay 0.0044% / 1h | 34m 57s | $828K | $407K | 25x |
| Short | Lighter TRX | 0.3438 | −0.0008 | pay 0.0001% / 1h | 34m 57s | $483K | $628K | 10x |
Deribit TRX_USDC-PERPETUAL
Lighter TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$75.53
- Price spread: −0.141% → −0.068%
- −$7.32
- Slippage, 4 orders
- −$14.33
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$104.19
- Costs to cover
- 0.213%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 54 min ago; Lighter: live order book, 49 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, 54 min ago | 0.73 bp | 6.8 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
| Sell Lighter live order book, 49 min ago | 0.73 bp | 4.3 bp −$4 | 9.6 bp −$96 | 37.4 bp −$3,736 | 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 | −0.135% | $5 | — | 20x | as long as short |
| Bybit TRXUSDT | −0.0091% | 8h | 0.3437 | −0.158% | $54.7M | $8.2M | 75x | as long as short |
| Variational Omni TRX | −0.0086% | 8h | 0.3436 | −0.176% | $562K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3439 | −0.100% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0056% | 8h | 0.3438 | −0.118% | $951K | $638K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3439 | −0.100% | $1K | $100K | 12x | as long as short |
| Backpack TRX_USDC_PERP | −0.0042% | 1h | 0.3438 | −0.126% | $58K | $7K | 10x | as long as short |
| HTX TRX-USDT | −0.0033% | 8h | 0.3437 | −0.151% | $825K | $707K | 75x | as long as short |
| SoDEX TRX-USD | −0.0013% | 1h | 0.3438 | −0.123% | $399 | $5K | 5x | as long as short |
| Lighter TRXshort | −0.0008% | 1h | 0.3438 | −0.141% | $483K | $628K | 10x |
Reya TRXRUSDPERP
Bybit TRXUSDT
Variational Omni TRX
Phoenix TRX
Aster TRXUSDT
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
HTX TRX-USDT
SoDEX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TRX_USDT | −0.0003% | 8h | 0.3438 | −0.121% | $17.2M | $1.6M | 200x | as long as short |
| Binance TRXUSDT | −0.0003% | 8h | 0.3438 | −0.123% | $99.3M | $49.2M | 75x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3438 | −0.143% | $196K | $1.1M | 25x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3440 | −0.082% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0008% | 8h | 0.3438 | −0.123% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0038% | 8h | 0.3438 | −0.128% | $9K | $385 | 20x | as long as short |
| KuCoin TRXUSDTM | +0.0038% | 8h | 0.3436 | −0.182% | $8.7M | $3.6M | 75x | as long as short |
| BingX TRX-USDC | +0.0066% | 8h | 0.3438 | −0.138% | — | $6.5M | — | as long as short |
| Bitget TRXUSDT | +0.0067% | 8h | 0.3438 | −0.141% | $9.4M | $2.1M | 75x | as long as short |
| Phemex TRXUSDT | +0.0073% | 8h | 0.3438 | −0.123% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3437 | −0.173% | $33K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3440 | −0.079% | $1.9M | $978K | 25x | as long as short |
| Orderly PERP_TRX_USDC | +0.0087% | 8h | 0.3438 | −0.132% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3440 | −0.068% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3438 | −0.132% | $9.7M | $2.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3438 | −0.134% | $587K | $435K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.083% | $115K | $541K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3441 | −0.033% | $196K | $914K | 30x | as long as short |
| BloFin TRX-USDT | +0.0117% | 8h | 0.3439 | −0.097% | $4.6M | $4.0M | 50x | as long as short |
| dYdX TRX-USD | +0.0137% | 1h | 0.3439 | −0.110% | $181K | $10K | 10x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0351% / S −0.0367% | 1h | 0.3439 | −0.102% | $19K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0352% | 1h | 0.3442 | long leg | $828K | $407K | 25x |
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
KuCoin TRXUSDTM
BingX TRX-USDC
Bitget TRXUSDT
Phemex TRXUSDT
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
Orderly PERP_TRX_USDC
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
dYdX TRX-USD
GMX TRX/USD [ETH-USDC]