Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0265%/8h= −29.0% APRpaid last 24h −0.063%

Price spread now: SunX against GMX+0.043%7-day average — · you sell dearer than you buy

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

Long on GMX Short on SunX

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 pays, funding is against you. SunX is 0.043% dearer against GMX than usual: you sell high and buy low (spread +0.043% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 13 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRX/USD [ETH-USDC]	0.3443	L +0.0365% / S −0.0395%	pay 0.0046% / 1h	54m 18s	$20K	—	100x
Short	SunX TRX-USDT	0.3444	0.0100	get 0.0100% / 8h	54m 18s	$196K	$918K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now +0.043%Rate

Funding earned: −$55.7
Price spread: +0.043% → 0.000%: $4.27
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee SunX: 4 bp × 2 orders: −$8
Net: −$71.43
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; SunX: live order book, 8 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 SunX live order book, 8 min ago	7.89 bp	29.3 bp −$29	39.7 bp −$397	doesn't fit	doesn't fit

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
Backpack TRX_USDC_PERP	−0.0150%	1h	0.3442	−0.038%	$58K	$4K	10x	as long as short
Injective TRX/USDC PERP	−0.0146%	1h	0.3441	−0.058%	$1K	$163K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3442	−0.031%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0087%	8h	0.3442	−0.029%	$8.7M	$3.7M	75x	as long as short
Phoenix TRX	−0.0070%	1h	0.3442	−0.029%	$5K	$13K	10x	as long as short
Variational Omni TRX	−0.0060%	8h	0.3440	−0.086%	$563K	$38K	—	as long as short
Bybit TRXUSDT	−0.0042%	8h	0.3442	−0.029%	$54.6M	$8.1M	75x	as long as short
HTX TRX-USDT	−0.0027%	8h	0.3440	−0.084%	$826K	$723K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3442	−0.015%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3444	+0.021%	$121K	—	150x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRX-USDT-SWAP	+0.0003%	8h	0.3443	−0.015%	$15.6M	$8.7M	50x	as long as short
MEXC TRX_USDT	+0.0021%	8h	0.3443	−0.012%	$18.1M	$1.7M	200x	as long as short
Binance TRXUSDT	+0.0021%	8h	0.3442	−0.015%	$99.3M	$47.8M	75x	as long as short
Extended TRX-USD	+0.0024%	1h	0.3442	−0.036%	$196K	$1.1M	25x	as long as short
Aster TRXUSDT	+0.0030%	8h	0.3442	−0.023%	$955K	$659K	75x	as long as short
Lighter TRX	+0.0040%	1h	0.3442	−0.029%	$482K	$630K	10x	as long as short
Paradex TRX-USD-PERP	+0.0050%	8h	0.3442	−0.036%	$9K	$385	20x	as long as short
Kraken Futures PF_TRXUSD	+0.0062%	1h	0.3444	+0.018%	$1.9M	$1.0M	25x	as long as short
Phemex TRXUSDT	+0.0075%	8h	0.3442	−0.018%	$3.8M	$1.6M	50x	as long as short
BloFin TRX-USDT	+0.0085%	8h	0.3442	−0.041%	$4.6M	$4.0M	50x	as long as short
SoDEX TRX-USD	+0.0085%	1h	0.3442	−0.018%	$403	$5K	5x	as long as short
Gate TRX_USDT	+0.0086%	8h	0.3443	−0.006%	$9.6M	$2.5M	75x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3441	−0.070%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3442	−0.035%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3444	+0.020%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3442	−0.018%	$9.5M	$2.1M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3442	−0.041%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.071%	$587K	$429K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3440	−0.085%	$115K	$556K	50x	as long as short
SunX TRX-USDTshort	+0.0100%	8h	0.3444	+0.043%	$196K	$918K	30x
GMX TRX/USD [ETH-USDC]long	L +0.0365% / S −0.0395%	1h	0.3443	long leg	$20K	—	100x
Deribit TRX_USDC-PERPETUAL	+0.0412%	1h	0.3446	+0.088%	$829K	$414K	25x	as long as short