Funding you earn now, next payment 00:00 UTC−0.0062%/8h= −6.8% APRnext payment −$0.08 per $10,000 · paid last 24h +0.023%
Price spread now: dYdX against Kraken Futures−0.047%7-day average −0.001% · you buy dearer than you sell
Net, funding: paid 7d − costs−$163as in the Funding arb table
Net, price: spread back to 7d avg − costs−$220as in the Price arb table
costs, in and out, $10k−$2152.149% of the position
Funding, last 7 days+0.519%+$52 on $10k
+Price spread, last 3 days (all we have)+0.124%+$12 · spread now −0.047%, 7d avg −0.001%
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and dYdX is 0.046% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.001%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.519%, 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 | 0.3444 | 0.0062 | pay 0.0008% / 1h | 50m 05s | $1.9M | $1.0M | 25x |
| Short | dYdX TRX-USD | 0.3442 | 0 | get 0.0000% / 1h | 50m 05s | $181K | $10K | 10x |
Kraken Futures PF_TRXUSD
dYdX TRX-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX 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
- −$13.03
- Price spread: −0.047% → −0.001%
- −$4.63
- Slippage, 4 orders
- −$194.91
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$232.57
- Costs to cover
- 2.149%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 3 min ago; dYdX: live order book, 29 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 | 1.60 bp | 11.2 bp −$11 | 18.5 bp −$185 | doesn't fit | doesn't fit |
| Sell dYdX live order book, 29 min ago | 60.16 bp | 69.8 bp −$70 | 124.3 bp −$1,243 | 153.7 bp −$15.4K | 394.6 bp −$197.3K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.090% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3442 | −0.053% | $5 | — | 20x | as long as short |
| Backpack TRX_USDC_PERP | −0.0112% | 1h | 0.3442 | −0.053% | $58K | $4K | 10x | as long as short |
| KuCoin TRXUSDTM | −0.0088% | 8h | 0.3442 | −0.056% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3444 | −0.012% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0056% | 8h | 0.3442 | −0.059% | $563K | $36K | — | as long as short |
| Bybit TRXUSDT | −0.0034% | 8h | 0.3443 | −0.047% | $54.6M | $8.0M | 75x | as long as short |
| HTX TRX-USDT | −0.0029% | 8h | 0.3441 | −0.093% | $826K | $724K | 75x | as long as short |
| dYdX TRX-USDshort | 0.0000% | 1h | 0.3442 | −0.047% | $181K | $10K | 10x | |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | −0.011% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
Backpack TRX_USDC_PERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
HTX TRX-USDT
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0005% | 8h | 0.3443 | −0.038% | $15.6M | $8.7M | 50x | as long as short |
| MEXC TRX_USDT | +0.0022% | 8h | 0.3443 | −0.041% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0023% | 8h | 0.3443 | −0.038% | $99.3M | $47.8M | 75x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3442 | −0.059% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0034% | 8h | 0.3443 | −0.026% | $956K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0054% | 8h | 0.3442 | −0.061% | $9K | $385 | 20x | as long as short |
| Lighter TRX | +0.0056% | 1h | 0.3442 | −0.053% | $482K | $630K | 10x | as long as short |
| Kraken Futures PF_TRXUSDlong | +0.0062% | 1h | 0.3444 | long leg | $1.9M | $1.0M | 25x | |
| Phemex TRXUSDT | +0.0079% | 8h | 0.3443 | −0.041% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0087% | 8h | 0.3443 | −0.041% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.093% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3443 | −0.047% | $14K | $107K | 20x | as long as short |
| BloFin TRX-USDT | +0.0090% | 8h | 0.3443 | −0.041% | $4.6M | $4.0M | 50x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3445 | +0.014% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | −0.035% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3443 | −0.041% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | −0.067% | $587K | $430K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3442 | −0.073% | $115K | $557K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3445 | +0.015% | $196K | $918K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3443 | −0.038% | $403 | $5K | 5x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | −0.029% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0517% | 1h | 0.3447 | +0.070% | $829K | $414K | 25x | as long as short |
OKX TRX-USDT-SWAP
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
Aster TRXUSDT
Paradex TRX-USD-PERP
Lighter TRX
Phemex TRXUSDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
BloFin TRX-USDT
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL