Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRnext payment +$0.08 per $10,000 · paid last 24h −0.021%
Price spread now: Backpack against Injective+1.290%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.380%−$38 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Backpack is 1.290% dearer against Injective than usual: you sell high and buy low: +$129 more if the spread goes back to zero (this spread has no 7-day history yet). Mind the row above: over the last 7 days funding on this pair cost −0.380%, so the current rate has only just turned in your favour.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective TRX/USDC PERP | 0.3441 | 0.0033 | pay 0.0004% / 1h | 0m 48s | $1K | $163K | 12x |
| Short | Backpack TRX_USDC_PERP | 0.3485 | 0.0100 | get 0.0013% / 1h | 0m 48s | $62K | $5K | 10x |
Injective TRX/USDC PERP
Backpack TRX_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Injective. 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
- $14
- Price spread: +1.290% → 0.000%
- $129.03
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- $133.01
- Costs to cover
- 0.100%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Backpack: 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 Injective no order-book sample | — | — | — | — | — |
| Sell Backpack no order-book sample | — | — | — | — | — |
Injective and Backpack: 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 | 0.3485 | +1.287% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3489 | +1.409% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | +1.319% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3486 | +1.319% | $123K | — | 150x | as long as short |
| HTX TRX-USDT | +0.0003% | 8h | 0.3483 | +1.232% | $833K | $932K | 75x | as long as short |
| Injective TRX/USDC PERPlong | +0.0033% | 1h | 0.3441 | long leg | $1K | $163K | 12x | |
| BingX TRX-USDT | +0.0070% | 8h | 0.3486 | +1.319% | — | $32.8M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3486 | +1.311% | $487K | $671K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3486 | +1.297% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3486 | +1.308% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
HTX TRX-USDT
BingX TRX-USDT
Lighter TRX
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDCShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3489 | +1.398% | $13.2M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3485 | +1.292% | $966K | $701K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3487 | +1.322% | $107.2M | $62.6M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3486 | +1.308% | $53.6M | $12.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3486 | +1.308% | $15.5M | $10.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3486 | +1.314% | $9.7M | $3.2M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3487 | +1.328% | $18.9M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3487 | +1.331% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3485 | +1.276% | $9.9M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERPshort | +0.0100% | 1h | 0.3485 | +1.290% | $62K | $5K | 10x | |
| Variational Omni TRX | +0.0100% | 8h | 0.3485 | +1.274% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | +1.303% | $594K | $474K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3487 | +1.328% | $116K | $580K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3485 | +1.269% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3486 | +1.319% | $409 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3487 | +1.325% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3485 | +1.275% | $195K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3484 | +1.264% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3486 | +1.319% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0492% | 1h | 0.3486 | +1.317% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0415% | 1h | 0.3487 | +1.330% | $2.4M | $1.8M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.1233% | 1h | 0.3492 | +1.477% | $909K | $680K | 25x | as long as short |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD
Deribit TRX_USDC-PERPETUAL