Funding you earn now, next payment 09:00 UTC+0.0076%/8h= +8.4% APRnext payment +$0.10 per $10,000 · paid last 24h −0.033%
Price spread now: Lighter against Kraken Futures−0.045%7-day average −0.030% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$28as in the Price arb table
costs, in and out, $10k−$260.263% of the position
Funding, last 7 days+0.113%+$11 on $10k
+Price spread, last 4 days (all we have)+0.055%+$6 · spread now −0.045%, 7d avg −0.030%
=Together, before fees+0.168%+ Points / potential airdropLighter: Season 3 · farm board+$17 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of −0.030%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_TRXUSD | 0.3488 | 0.0020 | pay 0.0002% / 1h | 56m 34s | $2.4M | $1.9M | 25x |
| Short | Lighter TRX | 0.3486 | 0.0096 | get 0.0012% / 1h | 56m 34s | $487K | $671K | 10x |
Kraken Futures PF_TRXUSD
Lighter TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $16.02
- Price spread: −0.045% → −0.030%
- −$1.57
- Slippage, 4 orders
- −$16.34
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$11.89
- Costs to cover
- 0.263%
- Break-even
- 12.2 days
Slippage from Kraken Futures: live order book, 2 min ago; Lighter: live order book, 38 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, 2 min ago | 5.45 bp | 10.5 bp −$11 | 18.0 bp −$180 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 38 min ago | 1.00 bp | 2.6 bp −$3 | 11.8 bp −$118 | 42.1 bp −$4,207 | 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX TRX-USDT | −0.0182% | 8h | 0.3482 | −0.180% | $835K | $959K | 75x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3486 | −0.052% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3484 | −0.103% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3487 | −0.023% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3487 | −0.016% | $126K | — | 150x | as long as short |
| Kraken Futures PF_TRXUSDlong | +0.0020% | 1h | 0.3488 | long leg | $2.4M | $1.9M | 25x | |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.347% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3486 | −0.051% | — | $6.5M | — | as long as short |
| Paradex TRX-USD-PERP | +0.0091% | 8h | 0.3487 | −0.039% | $9K | $251 | 20x | as long as short |
| Lighter TRXshort | +0.0096% | 1h | 0.3486 | −0.045% | $487K | $671K | 10x |
HTX TRX-USDT
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3487 | −0.034% | $14K | $63K | 20x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3485 | −0.090% | $971K | $741K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3487 | −0.029% | $107.2M | $65.3M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3486 | −0.045% | $53.5M | $12.7M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3486 | −0.060% | $15.7M | $10.9M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3486 | −0.060% | $9.6M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3487 | −0.037% | $19.0M | $2.3M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3487 | −0.019% | $8.5M | $3.3M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3486 | −0.071% | $9.8M | $4.4M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3487 | −0.042% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3482 | −0.171% | $569K | $30K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3483 | −0.134% | $594K | $500K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3484 | −0.103% | $116K | $608K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3485 | −0.073% | $198K | $1.4M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3488 | −0.014% | $407 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3487 | −0.025% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3485 | −0.081% | $206K | $1.2M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3485 | −0.081% | $34K | — | 3x | as long as short |
| Hyperliquid TRX | +0.0152% | 1h | 0.3489 | +0.041% | $13.4M | $2.8M | 10x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3488 | −0.005% | $4.8M | $4.1M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0492% | 1h | 0.3487 | −0.035% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0642% | 1h | 0.3491 | +0.092% | $844K | $719K | 25x | as long as short |
Orderly PERP_TRX_USDC
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
Hyperliquid TRX
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL