Funding you earn now, next payment 23:00 UTC+0.0092%/8h= +10.1% APRnext payment +$0.12 per $10,000 · paid last 24h +0.035%
Price spread now: Hyperliquid against Extended+0.070%7-day average +0.078% · you sell dearer than you buy
Net, funding: paid 7d − costs−$13as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$190.192% of the position
Funding, last 7 days+0.063%+$6 on $10k
+Price spread, last 4 days (all we have)−0.018%−$2 · spread now +0.070%, 7d avg +0.078%
=Together, before fees+0.045%+ Points / potential airdropExtended: Active · Hyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.078%, so right now this pair is about funding alone: +$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Extended TRX-USD | 0.3441 | 0.0008 | pay 0.0001% / 1h | 41m 24s | $196K | $1.1M | 25x |
| Short | Hyperliquid TRX | 0.3443 | 0.0100 | get 0.0013% / 1h | 41m 24s | $13.2M | $2.2M | 10x |
Extended TRX-USD
Hyperliquid TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Extended. 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
- $19.32
- Price spread: +0.070% → +0.078%
- −$0.82
- Slippage, 4 orders
- −$5.21
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$0.7
- Costs to cover
- 0.192%
- Break-even
- 7.3 days
Slippage from Extended: live order book, 2 min ago; Hyperliquid: live order book, 11 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 Extended live order book, 2 min ago | 0.14 bp | 3.5 bp −$4 | 9.5 bp −$95 | doesn't fit | doesn't fit |
| Sell Hyperliquid live order book, 11 min ago | 0.14 bp | 6.0 bp −$6 | doesn't fit | 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 | 0.3441 | +0.010% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | −0.003% | $1K | $163K | 12x | as long as short |
| Variational Omni TRX | −0.0085% | 8h | 0.3439 | −0.056% | $563K | $39K | — | as long as short |
| Bybit TRXUSDT | −0.0075% | 8h | 0.3441 | +0.006% | $54.7M | $8.2M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3443 | +0.052% | $5K | $13K | 10x | as long as short |
| Backpack TRX_USDC_PERP | −0.0033% | 1h | 0.3442 | +0.011% | $58K | $4K | 10x | as long as short |
| KuCoin TRXUSDTM | −0.0027% | 8h | 0.3442 | +0.011% | $8.7M | $3.6M | 75x | as long as short |
| HTX TRX-USDT | −0.0020% | 8h | 0.3440 | −0.034% | $826K | $715K | 75x | as long as short |
| Aster TRXUSDT | −0.0016% | 8h | 0.3444 | +0.070% | $953K | $656K | 75x | as long as short |
| SoDEX TRX-USD | −0.0001% | 1h | 0.3442 | +0.017% | $402 | $5K | 5x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
Variational Omni TRX
Bybit TRXUSDT
Phoenix TRX
Backpack TRX_USDC_PERP
KuCoin TRXUSDTM
HTX TRX-USDT
Aster TRXUSDT
SoDEX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX TRX-USD | 0.0000% | 1h | 0.3443 | +0.047% | $181K | $10K | 10x | as long as short |
| OKX TRX-USDT-SWAP | +0.0001% | 8h | 0.3442 | +0.011% | $15.6M | $8.8M | 50x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3443 | +0.064% | $121K | — | 150x | as long as short |
| Lighter TRX | +0.0008% | 1h | 0.3442 | +0.017% | $482K | $637K | 10x | as long as short |
| Extended TRX-USDlong | +0.0008% | 1h | 0.3441 | long leg | $196K | $1.1M | 25x | |
| MEXC TRX_USDT | +0.0008% | 8h | 0.3442 | +0.026% | $18.2M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0009% | 8h | 0.3442 | +0.027% | $99.3M | $48.4M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3444 | +0.075% | $1.9M | $1.0M | 25x | as long as short |
| BloFin TRX-USDT | +0.0034% | 8h | 0.3441 | +0.006% | $4.6M | $4.0M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0052% | 8h | 0.3442 | +0.013% | $9K | $385 | 20x | as long as short |
| Phemex TRXUSDT | +0.0071% | 8h | 0.3442 | +0.026% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3440 | −0.022% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3442 | +0.020% | $14K | $107K | 20x | as long as short |
| BingX TRX-USDT | +0.0092% | 8h | 0.3442 | +0.017% | — | $40.0M | — | as long as short |
| Gate TRX_USDT | +0.0094% | 8h | 0.3442 | +0.020% | $9.7M | $2.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0095% | 8h | 0.3442 | +0.029% | $9.4M | $2.1M | 75x | as long as short |
| Hyperliquid TRXshort | +0.0100% | 1h | 0.3443 | +0.070% | $13.2M | $2.2M | 10x | |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | +0.004% | $587K | $431K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3442 | +0.011% | $115K | $547K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.076% | $196K | $916K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3443 | +0.048% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0369% | 1h | 0.3446 | +0.132% | $833K | $411K | 25x | as long as short |
dYdX TRX-USD
OKX TRX-USDT-SWAP
gTrade (Gains Network) TRX/USD
Lighter TRX
MEXC TRX_USDT
Binance TRXUSDT
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
Paradex TRX-USD-PERP
Phemex TRXUSDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
BingX TRX-USDT
Gate TRX_USDT
Bitget TRXUSDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL