Funding you earn now, next payment 00:00 UTC−0.0087%/8h= −9.5% APRnext payment −$0.87 per $10,000 · paid last 24h −0.033%
Price spread now: Binance against Orderly−0.023%49s7-day average +0.008% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.245%−$24 on $10k
+Price spread, last 3 days (all we have)+0.147%+$15 · spread now −0.023%, 7d avg +0.008%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Binance is 0.031% cheaper against Orderly than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of +0.008%). Swap the legs. The two prices were read 49 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 | Orderly PERP_TRX_USDC | 0.3440 | 0.0086 | pay 0.0086% / 8h | 2h 58m | $14K | $107K | 20x |
| Short | Binance TRXUSDT | 0.3440 | −0.0001 | pay 0.0001% / 8h | 2h 58m | $99.3M | $49.8M | 75x |
Orderly PERP_TRX_USDC
Binance TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Orderly. 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
- −$18.25
- Price spread: −0.023% → +0.008%
- −$3.1
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$37.34
- Costs to cover
- 0.160%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; Binance: live order book, 14 min ago. 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 14 min ago | 0.14 bp | 5.9 bp −$6 | 9.4 bp −$94 | 31.9 bp −$3,189 | doesn't fit |
Orderly: 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 | 0.3439 | −0.030% | $5 | — | 20x | as long as short |
| Bybit TRXUSDT | −0.0094% | 8h | 0.3439 | −0.041% | $54.7M | $8.2M | 75x | as long as short |
| BingX TRX-USDT | −0.0093% | 8h | 0.3439 | −0.029% | — | $38.1M | — | as long as short |
| Variational Omni TRX | −0.0081% | 8h | 0.3439 | −0.054% | $562K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | +0.035% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0056% | 8h | 0.3439 | −0.032% | $951K | $636K | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0052% | 1h | 0.3440 | −0.020% | $58K | $7K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3440 | −0.012% | $1K | $89K | 12x | as long as short |
| HTX TRX-USDT | −0.0038% | 8h | 0.3439 | −0.042% | $826K | $704K | 75x | as long as short |
| SoDEX TRX-USD | −0.0011% | 1h | 0.3440 | −0.023% | $404 | $5K | 5x | as long as short |
Reya TRXRUSDPERP
Bybit TRXUSDT
BingX TRX-USDT
Variational Omni TRX
Phoenix TRX
Aster TRXUSDT
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
HTX TRX-USDT
SoDEX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TRXUSDTshort | −0.0001% | 8h | 0.3440 | −0.023% | $99.3M | $49.8M | 75x | |
| Lighter TRX | 0.0000% | 1h | 0.3439 | −0.029% | $483K | $628K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | +0.008% | $181K | $10K | 10x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3439 | −0.043% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | 0.0000% | 8h | 0.3440 | −0.012% | $17.2M | $1.6M | 200x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3441 | +0.031% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0013% | 8h | 0.3439 | −0.029% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0048% | 8h | 0.3439 | −0.026% | $9K | $385 | 20x | as long as short |
| Bitget TRXUSDT | +0.0064% | 8h | 0.3440 | −0.020% | $9.4M | $2.1M | 75x | as long as short |
| KuCoin TRXUSDTM | +0.0075% | 8h | 0.3438 | −0.055% | $8.7M | $3.6M | 75x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3438 | −0.062% | $33K | — | 3x | as long as short |
| Phemex TRXUSDT | +0.0081% | 8h | 0.3440 | −0.009% | $3.8M | $1.7M | 50x | as long as short |
| Orderly PERP_TRX_USDClong | +0.0086% | 8h | 0.3440 | long leg | $14K | $107K | 20x | |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3442 | +0.043% | $1.9M | $994K | 25x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3442 | +0.047% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3440 | −0.023% | $9.7M | $2.4M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | −0.005% | $587K | $439K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | +0.023% | $115K | $542K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | +0.045% | $196K | $915K | 30x | as long as short |
| BloFin TRX-USDT | +0.0119% | 8h | 0.3440 | −0.015% | $4.6M | $4.0M | 50x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0322% | 1h | 0.3444 | +0.091% | $828K | $409K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0350% / S −0.0367% | 1h | 0.3441 | +0.016% | $19K | — | 100x | as long as short |
Lighter TRX
dYdX TRX-USD
Extended TRX-USD
MEXC TRX_USDT
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
Bitget TRXUSDT
KuCoin TRXUSDTM
Aevo TRX-PERP
Phemex TRXUSDT
Kraken Futures PF_TRXUSD
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]