Funding arb · Price arb /

TRX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0170%/8h= −18.6% APRpaid last 24h −0.018%

Price spread now: Phoenix against Gate+0.038%7-day average — · you sell dearer than you buy

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

Long on Gate 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—needs both histories

The price spread pays, funding is against you. Phoenix is 0.038% dearer against Gate than usual: you sell high and buy low (spread +0.038% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 18 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate TRX_USDT	0.3441	0.0100	pay 0.0100% / 8h	2h 17m	$9.7M	$2.5M	75x
Short	Phoenix TRX	0.3442	−0.0070	pay 0.0009% / 1h	17m 25s	$5K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Gate. 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 GatebpFee PhoenixbpOrdersPrice spread, now +0.038%Rate

Funding earned: −$35.65
Price spread: +0.038% → 0.000%: $3.78
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$53.87
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 1 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 Gate live order book, 1 min ago	0.14 bp	11.3 bp −$11	24.3 bp −$243	32.1 bp −$3,212	58.7 bp −$29.3K
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	0.3441	−0.007%	$5	—	20x	as long as short
Bybit TRXUSDT	−0.0091%	8h	0.3439	−0.052%	$54.7M	$8.2M	75x	as long as short
Variational Omni TRX	−0.0089%	8h	0.3439	−0.049%	$562K	$39K	—	as long as short
Phoenix TRXshort	−0.0070%	1h	0.3442	+0.038%	$5K	$13K	10x
Backpack TRX_USDC_PERP	−0.0063%	1h	0.3441	−0.012%	$58K	$5K	10x	as long as short
Injective TRX/USDC PERP	−0.0048%	1h	0.3440	−0.029%	$1K	$129K	12x	as long as short
Aster TRXUSDT	−0.0041%	8h	0.3441	−0.003%	$951K	$638K	75x	as long as short
HTX TRX-USDT	−0.0027%	8h	0.3440	−0.028%	$826K	$710K	75x	as long as short
Binance TRXUSDT	0.0000%	8h	0.3441	0.000%	$99.3M	$49.0M	75x	as long as short
Extended TRX-USD	0.0000%	1h	0.3441	−0.014%	$196K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TRX_USDT	0.0000%	8h	0.3441	+0.003%	$17.9M	$1.7M	200x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3442	+0.038%	$121K	—	150x	as long as short
OKX TRX-USDT-SWAP	+0.0006%	8h	0.3439	−0.058%	$15.5M	$8.8M	50x	as long as short
Lighter TRX	+0.0008%	1h	0.3441	+0.003%	$482K	$639K	10x	as long as short
KuCoin TRXUSDTM	+0.0012%	8h	0.3440	−0.020%	$8.7M	$3.6M	75x	as long as short
SoDEX TRX-USD	+0.0031%	1h	0.3441	−0.003%	$405	$5K	5x	as long as short
Paradex TRX-USD-PERP	+0.0053%	8h	0.3441	−0.007%	$9K	$385	20x	as long as short
BingX TRX-USDC	+0.0071%	8h	0.3441	−0.015%	—	$6.5M	—	as long as short
Phemex TRXUSDT	+0.0072%	8h	0.3441	0.000%	$3.8M	$1.6M	50x	as long as short
Bitget TRXUSDT	+0.0074%	8h	0.3441	0.000%	$9.4M	$2.1M	75x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3439	−0.048%	$33K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0087%	1h	0.3443	+0.053%	$1.9M	$977K	25x	as long as short
Orderly PERP_TRX_USDC	+0.0089%	8h	0.3441	+0.003%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3443	+0.058%	$13.2M	$2.2M	10x	as long as short
Gate TRX_USDTlong	+0.0100%	8h	0.3441	long leg	$9.7M	$2.5M	75x
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.005%	$587K	$438K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3441	−0.012%	$115K	$541K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3444	+0.080%	$196K	$917K	30x	as long as short
BloFin TRX-USDT	+0.0119%	8h	0.3441	+0.003%	$4.6M	$4.0M	50x	as long as short
dYdX TRX-USD	+0.0134%	1h	0.3443	+0.048%	$181K	$10K	10x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0319%	1h	0.3445	+0.118%	$829K	$407K	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3443	+0.047%	$20K	—	100x	as long as short