Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0011%/8h= +1.2% APRpaid last 24h −0.064%

Price spread now: MEXC against dYdX−0.056%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$189as in the Funding arb table

Net, price: spread back to 7d avg − costs−$145as in the Price arb table

costs, in and out, $10k−$1411.414% of the position

Long on dYdX Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.480%−$48 on $10k

Price spread, last 4 days (all we have)+0.064%+$6 · spread now −0.056%, 7d avg −0.020%

Together, before fees−0.417%−$42 on $10k · with fees, hour by hour

Funding pays, the price is against you. MEXC is 0.036% cheaper against dYdX than usual: you would sell low and buy high (spread −0.056% now, against its 7-day average of −0.020%). If the spread goes back, that is −$4 on $10k: about 11 days of funding at the current rate ($0 a day). Mind the row above: over the last 7 days funding on this pair cost −0.480%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TRX-USD	0.3443	0	get 0.0000% / 1h	35m 09s	$181K	$10K	10x
Short	MEXC TRX_USDT	0.3441	0.0011	get 0.0011% / 8h	1h 35m	$18.2M	$1.7M	200x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC against dYdX. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee dYdXbpFee MEXCbpOrdersPrice spread, now −0.056%Rate

Funding earned: $2.31
Price spread: −0.056% → −0.020%: −$3.61
Slippage, 4 orders: −$127.44
Fee dYdX: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$142.74
Costs to cover: 1.414%
Break-even: 439.5 days

Slippage from dYdX: live order book, 49 min ago; MEXC: live order book, 3 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 dYdX live order book, 49 min ago	63.38 bp	68.4 bp −$68	68.4 bp −$684	101.4 bp −$10.1K	497.3 bp −$248.7K
Sell MEXC live order book, 3 min ago	0.14 bp	2.3 bp −$2	4.1 bp −$41	25.8 bp −$2,584	39.9 bp −$20.0K

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	0.3440	−0.072%	$5	—	20x	as long as short
Injective TRX/USDC PERP	−0.0120%	1h	0.3441	−0.050%	$1K	$163K	12x	as long as short
Variational Omni TRX	−0.0082%	8h	0.3440	−0.076%	$563K	$39K	—	as long as short
Bybit TRXUSDT	−0.0072%	8h	0.3440	−0.079%	$54.7M	$8.2M	75x	as long as short
Phoenix TRX	−0.0070%	1h	0.3443	+0.005%	$5K	$13K	10x	as long as short
Backpack TRX_USDC_PERP	−0.0045%	1h	0.3440	−0.068%	$58K	$4K	10x	as long as short
KuCoin TRXUSDTM	−0.0036%	8h	0.3440	−0.079%	$8.7M	$3.7M	75x	as long as short
HTX TRX-USDT	−0.0021%	8h	0.3439	−0.095%	$826K	$716K	75x	as long as short
Aster TRXUSDT	−0.0010%	8h	0.3443	+0.002%	$959K	$656K	75x	as long as short
SoDEX TRX-USD	−0.0003%	1h	0.3441	−0.062%	$400	$5K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRX-USDT-SWAP	−0.0001%	8h	0.3440	−0.073%	$15.6M	$8.8M	50x	as long as short
dYdX TRX-USDlong	0.0000%	1h	0.3443	long leg	$181K	$10K	10x
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3442	−0.013%	$121K	—	150x	as long as short
Lighter TRX	+0.0008%	1h	0.3440	−0.068%	$482K	$637K	10x	as long as short
Extended TRX-USD	+0.0008%	1h	0.3440	−0.080%	$196K	$1.1M	25x	as long as short
MEXC TRX_USDTshort	+0.0011%	8h	0.3441	−0.056%	$18.2M	$1.7M	200x
Binance TRXUSDT	+0.0011%	8h	0.3441	−0.059%	$99.3M	$48.3M	75x	as long as short
Kraken Futures PF_TRXUSD	+0.0026%	1h	0.3442	−0.017%	$1.9M	$1.0M	25x	as long as short
BloFin TRX-USDT	+0.0044%	8h	0.3440	−0.068%	$4.6M	$4.0M	50x	as long as short
Paradex TRX-USD-PERP	+0.0051%	8h	0.3440	−0.066%	$9K	$385	20x	as long as short
Phemex TRXUSDT	+0.0071%	8h	0.3441	−0.056%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3439	−0.101%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3441	−0.059%	$14K	$107K	20x	as long as short
Gate TRX_USDT	+0.0090%	8h	0.3440	−0.068%	$9.6M	$2.5M	75x	as long as short
BingX TRX-USDT	+0.0097%	8h	0.3441	−0.059%	—	$40.0M	—	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3443	−0.007%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3440	−0.070%	$9.4M	$2.0M	75x	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.060%	$587K	$432K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3441	−0.044%	$115K	$545K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3442	−0.016%	$196K	$917K	30x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3442	−0.022%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0444%	1h	0.3445	+0.059%	$832K	$411K	25x	as long as short