Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h +0.008%

Price spread now: Injective against KuCoin−1.396%85s7-day average −0.270% · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.233%+$23 on $10k

Price spread, last 4 days (all we have)+1.350%+$135 · spread now −1.396%, 7d avg −0.270%

Together, before fees+1.583%+$158 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.126% cheaper against KuCoin than usual: you would sell low and buy high (−$113 if the spread goes back to its 7-day average of −0.270%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.233%, so the current rate has only just turned against you. The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRXUSDTM	0.3490	0.0100	pay 0.0100% / 8h	1h 35m	$8.5M	$3.4M	75x
Short	Injective TRX/USDC PERP	0.3441	0.0033	get 0.0004% / 1h	35m 56s	$1K	$163K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against KuCoin. 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 KuCoinbpFee InjectivebpOrdersPrice spread, now −1.396%Rate

Funding earned: −$14
Price spread: −1.396% → −0.270%: −$112.56
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$138.58
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: KuCoin: live order book, 2 min ago; Injective: no order-book sample. Net counts fees only.

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 KuCoin live order book, 2 min ago	0.57 bp	10.6 bp −$11	90.0 bp −$900	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.3488	−0.049%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0017%	8h	0.3485	−0.121%	$833K	$938K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3490	+0.020%	$183K	$12K	10x	as long as short
Phoenix TRX	0.0000%	1h	0.3491	+0.023%	$5K	$14K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3489	−0.015%	$123K	—	150x	as long as short
Injective TRX/USDC PERPshort	+0.0033%	1h	0.3441	−1.396%	$1K	$163K	12x
BingX TRX-USDC	+0.0070%	8h	0.3489	−0.023%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3489	−0.032%	$487K	$670K	10x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3489	−0.008%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3488	−0.034%	$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	+0.054%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3489	−0.032%	$966K	$701K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3489	−0.029%	$107.4M	$62.6M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3489	−0.020%	$53.6M	$12.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3488	−0.034%	$15.5M	$10.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3490	+0.011%	$9.7M	$3.2M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3489	−0.032%	$19.6M	$2.2M	200x	as long as short
KuCoin TRXUSDTMlong	+0.0100%	8h	0.3490	long leg	$8.5M	$3.4M	75x
Bitget TRXUSDT	+0.0100%	8h	0.3488	−0.052%	$9.8M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3487	−0.066%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3489	−0.023%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3489	−0.025%	$595K	$461K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3490	+0.009%	$116K	$582K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3487	−0.074%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3489	−0.032%	$409	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3489	−0.029%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3488	−0.060%	$205K	$658K	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3487	−0.066%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3490	+0.009%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0252%	1h	0.3490	−0.004%	$2.4M	$1.8M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0411% / S −0.0492%	1h	0.3489	−0.007%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0850%	1h	0.3493	+0.100%	$907K	$684K	25x	as long as short