Funding you earn now, next payment 02:00 UTC+0.0428%/8h= +46.9% APRnext payment +$0.54 per $10,000 · paid last 24h +0.014%
Price spread now: Kraken Futures against Lighter−0.008%7-day average +0.029% · you buy dearer than you sell
Net, funding: paid 7d − costs−$39as in the Funding arb table
Net, price: spread back to 7d avg − costs−$27as in the Price arb table
costs, in and out, $10k−$230.231% of the position
Funding, last 7 days−0.156%−$16 on $10k
+Price spread, last 3 days (all we have)−0.002%$0 · spread now −0.008%, 7d avg +0.029%
=Together, before fees−0.158%+ Points / potential airdropLighter: Season 3 · farm board−$16 on $10k · with fees, hour by hour
Funding pays, the price is against you. Kraken Futures is 0.037% cheaper against Lighter than usual: you would sell low and buy high (spread −0.008% now, against its 7-day average of +0.029%). If the spread goes back, that is −$4 on $10k: about 7 hours of funding at the current rate (+$13 a day). Mind the row above: over the last 7 days funding on this pair cost −0.156%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.156% in total (about -8.1% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.54 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TRX | 0.3472 | 0.0096 | pay 0.0012% / 1h | 25m 38s | $485K | $662K | 10x |
| Short | Kraken Futures PF_TRXUSD | 0.3472 | 0.0524 | get 0.0066% / 1h | 25m 38s | $2.3M | $1.6M | 25x |
Lighter TRX
Kraken Futures PF_TRXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. 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
- $89.91
- Price spread: −0.008% → +0.029%
- −$3.71
- Slippage, 4 orders
- −$13.09
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $63.11
- Costs to cover
- 0.231%
- Break-even
- 2.1 days
Slippage from Lighter: live order book, 39 min ago; Kraken Futures: live order book, 3 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 Lighter live order book, 39 min ago | 1.30 bp | 2.4 bp −$2 | 10.6 bp −$106 | 41.6 bp −$4,158 | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 2.74 bp | 9.4 bp −$9 | 16.2 bp −$162 | doesn't fit | doesn't fit |
TRX on 31 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 | 0.3471 | −0.043% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3469 | −0.084% | $5K | $14K | 10x | as long as short |
| KuCoin TRXUSDTM | −0.0001% | 8h | 0.3473 | +0.017% | $8.7M | $3.5M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3472 | +0.006% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3471 | −0.047% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.899% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0058% | 1h | 0.3469 | −0.078% | $59K | $4K | 10x | as long as short |
| HTX TRX-USDT | +0.0091% | 8h | 0.3469 | −0.080% | $833K | $795K | 75x | as long as short |
| Orderly PERP_TRX_USDC | +0.0094% | 8h | 0.3470 | −0.060% | $14K | $122K | 20x | as long as short |
| Lighter TRXlong | +0.0096% | 1h | 0.3472 | long leg | $485K | $662K | 10x |
Reya TRXRUSDPERP
Phoenix TRX
KuCoin TRXUSDTM
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
HTX TRX-USDT
Orderly PERP_TRX_USDCShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex TRX-USD-PERP | +0.0097% | 8h | 0.3472 | −0.003% | $9K | $251 | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3472 | 0.000% | $13.2M | $2.3M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3470 | −0.063% | $958K | $670K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3472 | +0.003% | $102.8M | $50.8M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3473 | +0.012% | $54.9M | $9.6M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3473 | +0.026% | $15.5M | $8.7M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3473 | +0.009% | $9.7M | $2.6M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3472 | −0.009% | $18.5M | $2.0M | 200x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3473 | +0.026% | $10.4M | $3.2M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3472 | +0.006% | — | $32.7M | — | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3471 | −0.037% | $566K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3468 | −0.130% | $592K | $447K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3468 | −0.132% | $115K | $563K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3468 | −0.122% | $197K | $1.0M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3471 | −0.043% | $406 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3470 | −0.058% | $3.9M | $1.7M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3472 | +0.002% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3468 | −0.108% | $34K | — | 3x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0402% / S −0.0481% | 1h | 0.3470 | −0.065% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0524% | 1h | 0.3472 | −0.008% | $2.3M | $1.6M | 25x | |
| Deribit TRX_USDC-PERPETUAL | +0.0666% | 1h | 0.3474 | +0.047% | $800K | $463K | 25x | as long as short |
Paradex TRX-USD-PERP
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
Bitget TRXUSDT
BingX TRX-USDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL