Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0146%/8h= −16.0% APRpaid last 24h −0.046%

Price spread now: Phoenix against edgeX+0.058%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on edgeX Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

The price spread pays, funding is against you. Phoenix is 0.058% dearer against edgeX than usual: you sell high and buy low (spread +0.058% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 32 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TRXUSDC	0.3461	0.0100	pay 0.0050% / 4h	2h 53m	$590K	$440K	20x
Short	Phoenix TRX	0.3463	−0.0046	pay 0.0006% / 1h	53m 55s	$5K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against edgeX. 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 edgeXbpFee PhoenixbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$30.75
Price spread: +0.058% → 0.000%: $5.84
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$40.91
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: edgeX: live order book, 15 min ago; Phoenix: no order-book sample. 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 edgeX live order book, 15 min ago	0.87 bp	5.4 bp −$5	6.8 bp −$68	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.3462	+0.029%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0054%	8h	0.3464	+0.081%	$8.7M	$3.5M	75x	as long as short
Phoenix TRXshort	−0.0046%	1h	0.3463	+0.058%	$5K	$14K	10x
dYdX TRX-USD	0.0000%	1h	0.3462	+0.044%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3463	+0.056%	$122K	—	150x	as long as short
Backpack TRX_USDC_PERP	+0.0010%	1h	0.3463	+0.050%	$59K	$4K	10x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.572%	$1K	$163K	12x	as long as short
Variational Omni TRX	+0.0090%	8h	0.3461	+0.005%	$565K	$37K	—	as long as short
Orderly PERP_TRX_USDC	+0.0093%	8h	0.3462	+0.038%	$15K	$107K	20x	as long as short
Paradex TRX-USD-PERP	+0.0095%	8h	0.3462	+0.039%	$9K	$251	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRX	+0.0096%	1h	0.3462	+0.044%	$485K	$618K	10x	as long as short
MEXC TRX_USDT	+0.0099%	8h	0.3463	+0.073%	$18.6M	$1.9M	200x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3466	+0.136%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3462	+0.042%	$957K	$668K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3464	+0.081%	$101.6M	$49.1M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3464	+0.093%	$55.2M	$8.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3464	+0.096%	$15.5M	$8.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3464	+0.087%	$9.7M	$2.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3465	+0.110%	$10.4M	$3.1M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3464	+0.087%	—	$32.9M	—	as long as short
edgeX TRXUSDClong	+0.0100%	4h	0.3461	long leg	$590K	$440K	20x
ApeX Omni TRXUSDT	+0.0100%	1h	0.3463	+0.064%	$115K	$568K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3459	−0.054%	$197K	$983K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3462	+0.047%	$404	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3459	−0.042%	$831K	$782K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3462	+0.044%	$3.9M	$1.6M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3464	+0.082%	$196K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3461	−0.007%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3462	+0.021%	$4.6M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0403% / S −0.0481%	1h	0.3462	+0.045%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0525%	1h	0.3464	+0.090%	$2.3M	$1.6M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0576%	1h	0.3466	+0.158%	$785K	$424K	25x	as long as short