Funding you earn now, next payment 04:00 UTC−0.0547%/8h= −59.9% APRpaid last 24h −0.079%
Price spread now: Variational Omni against Deribit−0.159%7-day average −0.123% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)−0.158%−$16 on $10k
+Price spread, last 4 days (all we have)+0.139%+$14 · spread now −0.159%, 7d avg −0.123%
=Together, before fees−0.019%+ Points / potential airdropVariational Omni: Active · farm board−$2 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Variational Omni is 0.036% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.123%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.158% in total (about -16.5% 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 | 0.3481 | 0.0647 | pay 0.0081% / 1h | 4m 13s | $844K | $504K | 25x |
| Short | Variational Omni TRX | 0.3476 | 0.0100 | get 0.0100% / 8h | 4h 04m | $569K | $37K | — |
Deribit TRX_USDC-PERPETUAL
Variational Omni TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Variational Omni 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
- −$114.87
- Price spread: −0.159% → −0.123%
- −$3.62
- Slippage, 4 orders
- no order book: not counted
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Variational Omni: 0 bp × 2 orders
- $0
- Net
- −$125.49
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Deribit: live order book, 55 min ago; Variational Omni: RFQ quote, 55 min ago. Net counts fees only.
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, 55 min ago | 2.73 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Variational Omni RFQ quote, 55 min ago | 5.76 bp | doesn't fit | 8.6 bp −$86 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3477 | −0.116% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3477 | −0.125% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3476 | −0.151% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3478 | −0.099% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.162% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0053% | 1h | 0.3476 | −0.148% | $62K | $5K | 10x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3477 | −0.122% | — | $6.5M | — | as long as short |
| Paradex TRX-USD-PERP | +0.0094% | 8h | 0.3476 | −0.148% | $9K | $251 | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3478 | −0.105% | $485K | $669K | 10x | as long as short |
| HTX TRX-USDT | +0.0096% | 8h | 0.3476 | −0.154% | $835K | $857K | 75x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
BingX TRX-USDC
Paradex TRX-USD-PERP
Lighter TRX
HTX TRX-USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3477 | −0.119% | $15K | $47K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3481 | −0.027% | $13.1M | $2.6M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3477 | −0.123% | $963K | $696K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3478 | −0.093% | $105.4M | $58.7M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3477 | −0.116% | $53.7M | $11.7M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3478 | −0.107% | $15.5M | $9.9M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3478 | −0.107% | $9.7M | $3.0M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3478 | −0.102% | $18.8M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3478 | −0.105% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3478 | −0.093% | $10.4M | $3.3M | 75x | as long as short |
| Variational Omni TRXshort | +0.0100% | 8h | 0.3476 | −0.159% | $569K | $37K | — | |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3477 | −0.141% | $593K | $472K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3477 | −0.139% | $116K | $567K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3476 | −0.144% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3478 | −0.099% | $406 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3478 | −0.096% | $3.9M | $1.9M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3477 | −0.129% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3476 | −0.155% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3477 | −0.122% | $4.7M | $3.9M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0261% | 1h | 0.3479 | −0.079% | $2.4M | $1.7M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3478 | −0.108% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0647% | 1h | 0.3481 | long leg | $844K | $504K | 25x |
Orderly PERP_TRX_USDC
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]