Funding you earn now, next payment 04:00 UTC+0.0568%/8h= +62.2% APRnext payment +$0.71 per $10,000 · paid last 24h +0.080%
Price spread now: Deribit against gTrade (Gains Network)+0.085%7-day average +0.047% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$279as in the Price arb table
costs, in and out, $10k−$2832.828% of the position
Funding, last 3 days (all we have)+0.136%+$14 on $10k
+Price spread, last 4 days (all we have)−0.075%−$7 · spread now +0.085%, 7d avg +0.047%
=Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Deribit is 0.038% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.047%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.136% in total (about 15.0% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.71 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 | gTrade (Gains Network) TRX/USD | 0.3471 | L +0.0003% / S −0.0008% | pay 0.0000% / 1h | 48m 11s | $122K | — | 150x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3474 | 0.0571 | get 0.0071% / 1h | 48m 11s | $843K | $503K | 25x |
gTrade (Gains Network) TRX/USD
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against gTrade (Gains Network). 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
- $119.25
- Price spread: +0.085% → +0.047%
- $3.78
- Slippage, 4 orders
- −$265.79
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$159.76
- Costs to cover
- 2.828%
- Break-even
- 16.4 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 11 min ago; Deribit: 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 gTrade (Gains Network) virtual book (oracle venue), 11 min ago | 130.02 bp | 135.0 bp −$135 | 224.8 bp −$2,248 | 2109.1 bp −$210.9K | 10777.2 bp −$5.39M |
| Sell Deribit live order book, 11 min ago | 2.73 bp | 6.5 bp −$7 | 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 | 0.3470 | −0.045% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3473 | +0.067% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3473 | +0.051% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USDlong | L +0.0003% / S −0.0008% | 1h | 0.3471 | long leg | $122K | — | 150x | |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.867% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0063% | 1h | 0.3470 | −0.031% | $62K | $5K | 10x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3471 | −0.011% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3470 | −0.023% | $484K | $665K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0098% | 8h | 0.3470 | −0.026% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0098% | 8h | 0.3471 | −0.008% | $15K | $100K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
BingX TRX-USDC
Lighter TRX
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDCShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3473 | +0.058% | $13.1M | $2.6M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3470 | −0.022% | $962K | $695K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3470 | −0.023% | $105.0M | $58.3M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3470 | −0.031% | $53.6M | $11.6M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3470 | −0.034% | $15.5M | $9.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3470 | −0.029% | $9.6M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3470 | −0.023% | $18.8M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3471 | −0.005% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3471 | −0.005% | $10.3M | $3.3M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3472 | +0.023% | $568K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3473 | +0.049% | $592K | $471K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3472 | +0.035% | $115K | $566K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3470 | −0.038% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3470 | −0.020% | $407 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3469 | −0.051% | $834K | $840K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3470 | −0.023% | $3.9M | $1.8M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3469 | −0.055% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3469 | −0.060% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3471 | +0.006% | $4.7M | $3.9M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0261% | 1h | 0.3471 | +0.001% | $2.4M | $1.7M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0405% / S −0.0481% | 1h | 0.3471 | +0.008% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0571% | 1h | 0.3474 | +0.085% | $843K | $503K | 25x |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]