Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0311%/8h= −34.1% APRpaid last 24h −0.099%

Price spread now: Bybit against GMX−0.014%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 3 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 sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRX/USD [ETH-USDC]	0.3486	L +0.0411% / S −0.0492%	pay 0.0051% / 1h	42m 21s	$20K	—	100x
Short	Bybit TRXUSDT	0.3486	0.0100	get 0.0100% / 8h	2h 42m	$54.0M	$11.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now −0.014%Rate

Funding earned: −$65.31
Price spread: −0.014% → 0.000%: −$1.38
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$89.69
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 2 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 2 min ago	1.43 bp	6.9 bp −$7	9.9 bp −$99	39.6 bp −$3,964	183.7 bp −$91.8K

GMX: 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	0.3486	−0.021%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3487	+0.018%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	−0.003%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3487	+0.007%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.304%	$1K	$163K	12x	as long as short
HTX TRX-USDT	+0.0052%	8h	0.3482	−0.120%	$823K	$868K	75x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3487	+0.006%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3487	+0.012%	$487K	$666K	10x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3486	−0.001%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3487	+0.003%	$14K	$60K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3490	+0.092%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3486	−0.014%	$965K	$696K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3487	+0.001%	$106.7M	$61.6M	75x	as long as short
Bybit TRXUSDTshort	+0.0100%	8h	0.3486	−0.014%	$54.0M	$11.9M	75x
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3486	−0.005%	$15.5M	$10.2M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3487	+0.001%	$9.7M	$3.0M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3487	+0.009%	$18.9M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3487	+0.015%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3486	−0.014%	$10.5M	$3.5M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3486	−0.014%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3484	−0.074%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3485	−0.035%	$594K	$474K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3485	−0.048%	$116K	$580K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3485	−0.030%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3486	−0.002%	$407	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3487	+0.015%	$4.0M	$1.9M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3486	−0.013%	$195K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3485	−0.047%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	+0.021%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]long	L +0.0411% / S −0.0492%	1h	0.3486	long leg	$20K	—	100x
Kraken Futures PF_TRXUSD	+0.0415%	1h	0.3487	+0.017%	$2.4M	$1.7M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0762%	1h	0.3491	+0.128%	$901K	$633K	25x	as long as short