Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0077%/8h= −8.4% APRpaid last 24h +0.042%

Price spread now: gTrade (Gains Network) against HTX+0.037%51s7-day average +0.063% · 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—prices read too far apart to compare

costs, in and out, $10k−$2912.906% of the position

Long on HTX Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.121%+$12 on $10k

Price spread, last 3 days (all we have)+0.043%+$4 · spread now +0.037%, 7d avg +0.063%

Together, before fees+0.165%+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and gTrade (Gains Network) is 0.026% cheaper against HTX than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.063%). Swap the legs. Mind the row above: over the last 3 days funding on this pair paid +0.121%, so the current rate has only just turned against you. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX TRX-USDT	0.3456	0.0084	pay 0.0084% / 8h	7h 16m	$830K	$754K	75x
Short	gTrade (Gains Network) TRX/USD	0.3457	L +0.0003% / S −0.0007%	get 0.0001% / 1h	16m 28s	$122K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) against HTX. 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 HTXbpFee gTrade (Gains Network)bpOrdersPrice spread, now +0.037%Rate

Funding earned: −$16.1
Price spread: +0.037% → +0.063%: −$2.62
Slippage, 4 orders: −$268.63
Fee HTX: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$309.34
Costs to cover: 2.906%
Break-even: never at this rate

Slippage from HTX: live order book, 57 min ago; gTrade (Gains Network): virtual book (oracle venue), 58 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 HTX live order book, 57 min ago	4.27 bp	10.3 bp −$10	13.7 bp −$137	doesn't fit	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 58 min ago	130.02 bp	135.0 bp −$135	205.2 bp −$2,052	2197.0 bp −$219.7K	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	0.3456	−0.001%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0087%	8h	0.3456	−0.005%	$8.7M	$3.5M	75x	as long as short
Phoenix TRX	−0.0046%	1h	0.3457	+0.036%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3456	+0.021%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USDshort	L +0.0003% / S −0.0007%	1h	0.3457	+0.037%	$122K	—	150x
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.424%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0043%	1h	0.3455	−0.008%	$58K	$4K	10x	as long as short
Variational Omni TRX	+0.0050%	8h	0.3454	−0.050%	$565K	$36K	—	as long as short
Extended TRX-USD	+0.0080%	1h	0.3455	−0.007%	$194K	$1.0M	25x	as long as short
MEXC TRX_USDT	+0.0080%	8h	0.3457	+0.024%	$18.4M	$1.9M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TRXUSDT	+0.0081%	8h	0.3456	+0.022%	$100.7M	$48.0M	75x	as long as short
HTX TRX-USDTlong	+0.0084%	8h	0.3456	long leg	$830K	$754K	75x
OKX TRX-USDT-SWAP	+0.0091%	8h	0.3457	+0.036%	$15.5M	$8.4M	50x	as long as short
Paradex TRX-USD-PERP	+0.0091%	8h	0.3456	+0.005%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0092%	8h	0.3456	+0.010%	$15K	$107K	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3456	−0.002%	$484K	$630K	10x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3458	+0.065%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3456	+0.007%	$957K	$664K	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3456	+0.010%	$55.1M	$8.3M	75x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3457	+0.030%	$9.7M	$2.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3456	+0.013%	$9.5M	$2.1M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3456	+0.016%	—	$6.5M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3454	−0.037%	$590K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3454	−0.039%	$115K	$565K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3453	−0.076%	$196K	$957K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3456	+0.010%	$406	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3456	+0.007%	$3.9M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3454	−0.037%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0172%	1h	0.3458	+0.067%	$2.3M	$1.5M	25x	as long as short
BloFin TRX-USDT	+0.0201%	8h	0.3456	+0.010%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0367% / S −0.0395%	1h	0.3456	+0.010%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0601%	1h	0.3460	+0.115%	$846K	$421K	25x	as long as short