Funding you earn now, next payment 00:00 UTC−0.0017%/8h= −1.9% APRnext payment −$0.17 per $10,000 · paid last 24h +0.017%
Price spread now: Phemex against Gate+0.023%7-day average +0.011% · you sell dearer than you buy
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$390.386% of the position
Funding, last 7 days−0.006%−$1 on $10k
+Price spread, last 3 days (all we have)−0.141%−$14 · spread now +0.023%, 7d avg +0.011%
=The price spread sits at its 7-day average of +0.011%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Gate TRX_USDT | 0.3438 | 0.0100 | pay 0.0100% / 8h | 2h 56m | $9.7M | $2.4M | 75x |
| Short | Phemex TRXUSDT | 0.3439 | 0.0083 | get 0.0083% / 8h | 2h 56m | $3.8M | $1.6M | 50x |
Gate TRX_USDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against Gate. 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
- −$3.67
- Price spread: +0.023% → +0.011%
- $1.22
- Slippage, 4 orders
- −$11.56
- Fee Gate: 7.5 bp × 2 orders
- −$15
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$41.01
- Costs to cover
- 0.386%
- Break-even
- never at this rate
Slippage from Gate: live order book, 2 min ago; Phemex: live order book, 2 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 Gate live order book, 2 min ago | 0.14 bp | 11.6 bp −$12 | 25.5 bp −$255 | 36.9 bp −$3,692 | 63.8 bp −$31.9K |
| Sell Phemex live order book, 2 min ago | 0.14 bp | 6.9 bp −$7 | 13.6 bp −$136 | 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 | 0.3438 | −0.008% | $5 | — | 20x | as long as short |
| Backpack TRX_USDC_PERP | −0.0105% | 1h | 0.3438 | +0.006% | $58K | $7K | 10x | as long as short |
| Bybit TRXUSDT | −0.0095% | 8h | 0.3438 | −0.009% | $54.7M | $8.2M | 75x | as long as short |
| BingX TRX-USDC | −0.0093% | 8h | 0.3438 | +0.003% | — | $6.5M | — | as long as short |
| Variational Omni TRX | −0.0081% | 8h | 0.3439 | +0.007% | $562K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3440 | +0.049% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0056% | 8h | 0.3439 | +0.029% | $951K | $636K | 75x | as long as short |
| SoDEX TRX-USD | −0.0050% | 1h | 0.3438 | +0.006% | $402 | $5K | 5x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3439 | +0.020% | $1K | $100K | 12x | as long as short |
| Lighter TRX | −0.0040% | 1h | 0.3438 | 0.000% | $483K | $628K | 10x | as long as short |
Reya TRXRUSDPERP
Backpack TRX_USDC_PERP
Bybit TRXUSDT
BingX TRX-USDC
Variational Omni TRX
Phoenix TRX
Aster TRXUSDT
SoDEX TRX-USD
Injective TRX/USDC PERP
Lighter TRXShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| HTX TRX-USDT | −0.0039% | 8h | 0.3438 | −0.007% | $826K | $704K | 75x | as long as short |
| Binance TRXUSDT | −0.0001% | 8h | 0.3438 | +0.003% | $99.2M | $49.6M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | +0.069% | $181K | $10K | 10x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3438 | −0.017% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | 0.0000% | 8h | 0.3438 | +0.006% | $17.2M | $1.6M | 200x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3440 | +0.049% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0012% | 8h | 0.3438 | −0.006% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0046% | 8h | 0.3439 | +0.007% | $9K | $385 | 20x | as long as short |
| Bitget TRXUSDT | +0.0064% | 8h | 0.3438 | −0.017% | $9.4M | $2.1M | 75x | as long as short |
| KuCoin TRXUSDTM | +0.0071% | 8h | 0.3437 | −0.035% | $8.7M | $3.6M | 75x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3437 | −0.036% | $33K | — | 3x | as long as short |
| Phemex TRXUSDTshort | +0.0083% | 8h | 0.3439 | +0.023% | $3.8M | $1.6M | 50x | |
| Orderly PERP_TRX_USDC | +0.0086% | 8h | 0.3439 | +0.029% | $14K | $107K | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3440 | +0.062% | $1.9M | $994K | 25x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3441 | +0.070% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDTlong | +0.0100% | 8h | 0.3438 | long leg | $9.7M | $2.4M | 75x | |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | +0.040% | $587K | $434K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | +0.090% | $115K | $543K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3441 | +0.078% | $196K | $915K | 30x | as long as short |
| BloFin TRX-USDT | +0.0119% | 8h | 0.3439 | +0.032% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0351% / S −0.0367% | 1h | 0.3440 | +0.053% | $19K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0357% | 1h | 0.3442 | +0.121% | $828K | $409K | 25x | as long as short |
HTX TRX-USDT
Binance TRXUSDT
dYdX TRX-USD
Extended TRX-USD
MEXC TRX_USDT
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
Bitget TRXUSDT
KuCoin TRXUSDTM
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Kraken Futures PF_TRXUSD
Hyperliquid TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL