Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0315%/8h= −34.5% APRpaid last 24h −0.021%

Price spread now: SunX against Kraken Futures−0.084%7-day average −0.121% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.232%+$23 on $10k

Price spread, last 4 days (all we have)−0.116%−$12 · spread now −0.084%, 7d avg −0.121%

Together, before fees+0.116%+$12 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.038% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.084% now, against its 7-day average of −0.121%): +$4 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 10 hours. Mind the row above: over the last 7 days funding on this pair paid +0.232%, 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	0.3491	0.0415	pay 0.0052% / 1h	15m 56s	$2.4M	$1.8M	25x
Short	SunX TRX-USDT	0.3488	0.0100	get 0.0100% / 8h	2h 15m	$198K	$1.3M	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$66.08
Price spread: −0.084% → −0.121%: $3.75
Slippage, 4 orders: −$48.36
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$128.69
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SunX: live order book, 8 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	1.72 bp	13.8 bp −$14	20.4 bp −$204	doesn't fit	doesn't fit
Sell SunX live order book, 8 min ago	13.98 bp	18.0 bp −$18	24.7 bp −$247	doesn't fit	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	0.3489	−0.043%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3491	+0.021%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3490	−0.004%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3490	−0.024%	$123K	—	150x	as long as short
HTX TRX-USDT	+0.0025%	8h	0.3488	−0.074%	$834K	$930K	75x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.420%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3490	−0.013%	—	$32.8M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3489	−0.034%	$487K	$671K	10x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3489	−0.046%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3490	−0.028%	$14K	$60K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3492	+0.052%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3491	+0.001%	$968K	$701K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3490	−0.019%	$107.3M	$62.5M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3490	−0.016%	$54.0M	$12.2M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3490	−0.011%	$15.5M	$10.4M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3490	−0.016%	$9.7M	$3.1M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3490	−0.019%	$18.9M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3490	−0.016%	$8.5M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3488	−0.059%	$9.9M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3489	−0.045%	$63K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3489	−0.048%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3490	−0.018%	$595K	$475K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3490	−0.005%	$116K	$580K	50x	as long as short
SunX TRX-USDTshort	+0.0100%	8h	0.3488	−0.084%	$198K	$1.3M	30x
SoDEX TRX-USD	+0.0100%	1h	0.3490	−0.022%	$410	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3490	−0.022%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3489	−0.054%	$195K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3488	−0.073%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3490	−0.016%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0492%	1h	0.3489	−0.033%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSDlong	+0.0415%	1h	0.3491	long leg	$2.4M	$1.8M	25x
Deribit TRX_USDC-PERPETUAL	+0.1059%	1h	0.3495	+0.117%	$904K	$668K	25x	as long as short