Funding you earn now, next payment 22:00 UTC−0.0178%/8h= −19.4% APRpaid last 24h −0.040%
Price spread now: Bybit against Kraken Futures−0.086%7-day average −0.047% · you buy dearer than you sell
Net, funding: paid 7d − costs−$33as in the Funding arb table
Net, price: spread back to 7d avg − costs−$38as in the Price arb table
costs, in and out, $10k−$340.339% of the position
Funding, last 7 days+0.009%+$1 on $10k
+Price spread, last 3 days (all we have)+0.123%+$12 · spread now −0.086%, 7d avg −0.047%
=Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Bybit is 0.039% cheaper against Kraken Futures than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.047%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_TRXUSD | 0.3440 | 0.0087 | pay 0.0011% / 1h | 35m 32s | $1.9M | $978K | 25x |
| Short | Bybit TRXUSDT | 0.3437 | −0.0091 | pay 0.0091% / 8h | 2h 35m | $54.7M | $8.2M | 75x |
Kraken Futures PF_TRXUSD
Bybit TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit 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 itlatest
How often the price spread is this wide · share of time at each level, last 7D show
Profit calculator
- Funding earned
- −$37.28
- Price spread: −0.086% → −0.047%
- −$3.92
- Slippage, 4 orders
- −$12.94
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$75.15
- Costs to cover
- 0.339%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; Bybit: live order book, 3 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, 3 min ago | 1.45 bp | 8.1 bp −$8 | 13.0 bp −$130 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 1.46 bp | 9.0 bp −$9 | 12.5 bp −$125 | 49.8 bp −$4,984 | 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 | 0.3438 | −0.063% | $5 | — | 20x | as long as short |
| Bybit TRXUSDTshort | −0.0091% | 8h | 0.3437 | −0.086% | $54.7M | $8.2M | 75x | |
| Variational Omni TRX | −0.0087% | 8h | 0.3438 | −0.071% | $562K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3439 | −0.028% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0056% | 8h | 0.3437 | −0.073% | $950K | $634K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3439 | −0.028% | $1K | $100K | 12x | as long as short |
| Backpack TRX_USDC_PERP | −0.0044% | 1h | 0.3438 | −0.054% | $58K | $7K | 10x | as long as short |
| HTX TRX-USDT | −0.0034% | 8h | 0.3436 | −0.110% | $825K | $707K | 75x | as long as short |
| SoDEX TRX-USD | −0.0021% | 1h | 0.3438 | −0.051% | $402 | $5K | 5x | as long as short |
| Lighter TRX | −0.0008% | 1h | 0.3438 | −0.069% | $483K | $628K | 10x | as long as short |
Reya TRXRUSDPERP
Variational Omni TRX
Phoenix TRX
Aster TRXUSDT
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
HTX TRX-USDT
SoDEX TRX-USD
Lighter TRXShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TRX_USDT | −0.0003% | 8h | 0.3439 | −0.037% | $17.2M | $1.6M | 200x | as long as short |
| Binance TRXUSDT | −0.0003% | 8h | 0.3438 | −0.045% | $99.3M | $49.2M | 75x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3438 | −0.070% | $196K | $1.1M | 25x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3440 | −0.008% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0008% | 8h | 0.3438 | −0.054% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0038% | 8h | 0.3438 | −0.055% | $9K | $385 | 20x | as long as short |
| KuCoin TRXUSDTM | +0.0038% | 8h | 0.3436 | −0.109% | $8.7M | $3.6M | 75x | as long as short |
| BingX TRX-USDT | +0.0066% | 8h | 0.3438 | −0.069% | — | $38.2M | — | as long as short |
| Bitget TRXUSDT | +0.0067% | 8h | 0.3438 | −0.066% | $9.4M | $2.1M | 75x | as long as short |
| Phemex TRXUSDT | +0.0073% | 8h | 0.3438 | −0.051% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3437 | −0.099% | $33K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSDlong | +0.0087% | 1h | 0.3440 | long leg | $1.9M | $978K | 25x | |
| Orderly PERP_TRX_USDC | +0.0087% | 8h | 0.3438 | −0.051% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3440 | +0.004% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3438 | −0.054% | $9.7M | $2.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3438 | −0.062% | $587K | $435K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.010% | $115K | $541K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | +0.047% | $196K | $914K | 30x | as long as short |
| BloFin TRX-USDT | +0.0118% | 8h | 0.3439 | −0.028% | $4.6M | $4.0M | 50x | as long as short |
| dYdX TRX-USD | +0.0137% | 1h | 0.3439 | −0.038% | $181K | $10K | 10x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0351% / S −0.0367% | 1h | 0.3439 | −0.025% | $19K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0375% | 1h | 0.3442 | +0.072% | $828K | $407K | 25x | as long as short |
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
KuCoin TRXUSDTM
BingX TRX-USDT
Bitget TRXUSDT
Phemex TRXUSDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
dYdX TRX-USD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL