Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0089%/8h= −9.8% APRpaid last 24h −0.030%

Price spread now: Binance against Kraken Futures−0.050%7-day average −0.024% · you buy dearer than you sell

Net, funding: paid 7d − costs−$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$300.297% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days+0.071%+$7 on $10k

Price spread, last 3 days (all we have)+0.067%+$7 · spread now −0.050%, 7d avg −0.024%

Together, before fees+0.138%+$14 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.026% cheaper against Kraken Futures than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.024%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.071%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRXUSD	0.3460	0.0172	pay 0.0022% / 1h	14m 48s	$2.3M	$1.5M	25x
Short	Binance TRXUSDT	0.3458	0.0083	get 0.0083% / 8h	7h 14m	$100.8M	$48.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.050%Rate

Funding earned: −$18.72
Price spread: −0.050% → −0.024%: −$2.57
Slippage, 4 orders: −$9.68
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$50.97
Costs to cover: 0.297%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 4 min ago; Binance: live order book, 13 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 Kraken Futures live order book, 4 min ago	3.76 bp	9.1 bp −$9	21.1 bp −$211	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	0.14 bp	5.1 bp −$5	7.9 bp −$79	31.6 bp −$3,159	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	0.3457	−0.073%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0086%	8h	0.3458	−0.055%	$8.7M	$3.5M	75x	as long as short
Phoenix TRX	−0.0046%	1h	0.3457	−0.078%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3456	−0.093%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3458	−0.033%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.538%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0044%	1h	0.3457	−0.076%	$58K	$4K	10x	as long as short
Variational Omni TRX	+0.0057%	8h	0.3455	−0.134%	$564K	$37K	—	as long as short
Extended TRX-USD	+0.0080%	1h	0.3457	−0.079%	$194K	$1.0M	25x	as long as short
MEXC TRX_USDT	+0.0080%	8h	0.3458	−0.050%	$18.5M	$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 TRXUSDTshort	+0.0083%	8h	0.3458	−0.050%	$100.8M	$48.2M	75x
HTX TRX-USDT	+0.0086%	8h	0.3456	−0.091%	$830K	$755K	75x	as long as short
Paradex TRX-USD-PERP	+0.0091%	8h	0.3457	−0.079%	$9K	$251	20x	as long as short
OKX TRX-USDT-SWAP	+0.0092%	8h	0.3458	−0.032%	$15.5M	$8.4M	50x	as long as short
Orderly PERP_TRX_USDC	+0.0092%	8h	0.3458	−0.061%	$15K	$107K	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3458	−0.058%	$484K	$630K	10x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3460	+0.008%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3457	−0.062%	$957K	$664K	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3457	−0.073%	$55.1M	$8.3M	75x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3458	−0.038%	$9.7M	$2.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3458	−0.038%	$9.6M	$2.2M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3458	−0.055%	—	$6.5M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3455	−0.124%	$590K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3456	−0.096%	$115K	$566K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3454	−0.152%	$196K	$957K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3458	−0.052%	$402	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3458	−0.058%	$3.9M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3456	−0.112%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSDlong	+0.0172%	1h	0.3460	long leg	$2.3M	$1.5M	25x
BloFin TRX-USDT	+0.0203%	8h	0.3458	−0.058%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0367% / S −0.0395%	1h	0.3458	−0.051%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0479%	1h	0.3461	+0.054%	$847K	$421K	25x	as long as short