Funding you earn now, next payment 23:00 UTC−0.0082%/8h= −9.0% APRpaid last 24h −0.039%
Price spread now: Binance against Hyperliquid−0.052%7-day average −0.013% · you buy dearer than you sell
Net, funding: paid 7d − costs−$26as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$230.227% of the position
Funding, last 7 days−0.038%−$4 on $10k
+Price spread, last 7 days+0.057%+$6 · spread now −0.052%, 7d avg −0.013%
=Together, before fees+0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 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 Binance is 0.039% cheaper against Hyperliquid than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.013%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TRX | 0.3442 | 0.0100 | pay 0.0013% / 1h | 2m 30s | $13.2M | $2.2M | 10x |
| Short | Binance TRXUSDT | 0.3441 | 0.0018 | get 0.0018% / 8h | 1h 02m | $99.3M | $48.2M | 75x |
Hyperliquid TRX
Binance TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Hyperliquid. 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
- −$17.32
- Price spread: −0.052% → −0.013%
- −$3.94
- Slippage, 4 orders
- −$3.71
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$43.96
- Costs to cover
- 0.227%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 10 min ago; Binance: live order book, 10 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 Hyperliquid live order book, 10 min ago | 0.14 bp | 5.1 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell Binance live order book, 10 min ago | 0.14 bp | 6.2 bp −$6 | 9.9 bp −$99 | 33.6 bp −$3,361 | 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 | 0.3440 | −0.067% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | −0.038% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | −0.0083% | 8h | 0.3440 | −0.073% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3441 | −0.041% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0068% | 8h | 0.3438 | −0.124% | $562K | $38K | — | as long as short |
| Bybit TRXUSDT | −0.0050% | 8h | 0.3440 | −0.067% | $54.6M | $8.2M | 75x | as long as short |
| HTX TRX-USDT | −0.0024% | 8h | 0.3438 | −0.127% | $825K | $722K | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0007% | 1h | 0.3440 | −0.058% | $58K | $4K | 10x | as long as short |
| OKX TRX-USDT-SWAP | 0.0000% | 8h | 0.3440 | −0.058% | $15.6M | $8.8M | 50x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | −0.048% | $181K | $10K | 10x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
HTX TRX-USDT
Backpack TRX_USDC_PERP
OKX TRX-USDT-SWAP
dYdX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3442 | −0.016% | $121K | — | 150x | as long as short |
| Lighter TRX | +0.0008% | 1h | 0.3440 | −0.067% | $482K | $637K | 10x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3440 | −0.075% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0016% | 8h | 0.3441 | −0.052% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDTshort | +0.0018% | 8h | 0.3441 | −0.052% | $99.3M | $48.2M | 75x | |
| Aster TRXUSDT | +0.0020% | 8h | 0.3440 | −0.070% | $955K | $659K | 75x | as long as short |
| SoDEX TRX-USD | +0.0024% | 1h | 0.3440 | −0.055% | $405 | $5K | 5x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3442 | −0.019% | $1.9M | $1.0M | 25x | as long as short |
| Paradex TRX-USD-PERP | +0.0041% | 8h | 0.3440 | −0.070% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDT | +0.0068% | 8h | 0.3441 | −0.049% | $4.6M | $4.0M | 50x | as long as short |
| Phemex TRXUSDT | +0.0075% | 8h | 0.3441 | −0.049% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0083% | 8h | 0.3441 | −0.049% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3439 | −0.107% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3440 | −0.064% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRXlong | +0.0100% | 1h | 0.3442 | long leg | $13.2M | $2.2M | 10x | |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3441 | −0.046% | $9.4M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3440 | −0.064% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3439 | −0.085% | $587K | $431K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.055% | $115K | $552K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.008% | $196K | $920K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3441 | −0.036% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0497% | 1h | 0.3444 | +0.064% | $832K | $411K | 25x | as long as short |
gTrade (Gains Network) TRX/USD
Lighter TRX
Extended TRX-USD
MEXC TRX_USDT
Aster TRXUSDT
SoDEX TRX-USD
Kraken Futures PF_TRXUSD
Paradex TRX-USD-PERP
BloFin TRX-USDT
Phemex TRXUSDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL