Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0038%/8h= +4.1% APRpaid last 24h −0.017%

Price spread now: Phoenix against KuCoin−0.069%7-day average — · you buy dearer than you sell

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

Long on KuCoin Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Phoenix is 0.069% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.069% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 6.2 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRXUSDTM	0.3459	−0.0084	get 0.0084% / 8h	7h 12m	$8.7M	$3.5M	75x
Short	Phoenix TRX	0.3457	−0.0046	pay 0.0006% / 1h	12m 46s	$5K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now −0.069%Rate

Funding earned: $7.89
Price spread: −0.069% → 0.000%: −$6.94
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$18.05
Costs to cover: 0.190%
Break-even: 23.0 days

Slippage unknown: KuCoin: live order book, 5 min ago; Phoenix: 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, 5 min ago	1.01 bp	14.0 bp −$14	110.3 bp −$1,103	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	0.3459	−0.017%	$5	—	20x	as long as short
KuCoin TRXUSDTMlong	−0.0084%	8h	0.3459	long leg	$8.7M	$3.5M	75x
Phoenix TRXshort	−0.0046%	1h	0.3457	−0.069%	$5K	$14K	10x
dYdX TRX-USD	0.0000%	1h	0.3458	−0.026%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3460	+0.023%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.529%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0039%	1h	0.3458	−0.040%	$59K	$4K	10x	as long as short
Variational Omni TRX	+0.0057%	8h	0.3455	−0.125%	$564K	$37K	—	as long as short
MEXC TRX_USDT	+0.0084%	8h	0.3459	−0.009%	$18.5M	$1.9M	200x	as long as short
Binance TRXUSDT	+0.0085%	8h	0.3459	+0.006%	$101.1M	$48.4M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TRX-USDT	+0.0088%	8h	0.3458	−0.047%	$831K	$769K	75x	as long as short
Extended TRX-USD	+0.0088%	1h	0.3459	−0.018%	$194K	$1.0M	25x	as long as short
Paradex TRX-USD-PERP	+0.0092%	8h	0.3458	−0.028%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0092%	8h	0.3459	−0.020%	$15K	$107K	20x	as long as short
OKX TRX-USDT-SWAP	+0.0095%	8h	0.3460	+0.023%	$15.5M	$8.5M	50x	as long as short
Lighter TRX	+0.0096%	1h	0.3459	−0.017%	$484K	$630K	10x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3461	+0.052%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3459	−0.001%	$957K	$666K	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3460	+0.020%	$55.2M	$8.3M	75x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3460	+0.012%	$9.7M	$2.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3461	+0.035%	$10.0M	$2.7M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3460	+0.017%	—	$32.9M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3457	−0.072%	$590K	$443K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3458	−0.046%	$115K	$566K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3456	−0.104%	$196K	$959K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3459	−0.006%	$406	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3459	0.000%	$3.9M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3457	−0.068%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0172%	1h	0.3461	+0.040%	$2.3M	$1.5M	25x	as long as short
BloFin TRX-USDT	+0.0205%	8h	0.3459	−0.012%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0367% / S −0.0395%	1h	0.3459	−0.012%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0519%	1h	0.3463	+0.097%	$847K	$421K	25x	as long as short