Funding you earn now, next payment 00:00 UTC+0.0024%/8h= +2.6% APRnext payment +$0.24 per $10,000 · paid last 24h −0.028%
Price spread now: BingX against Phemex0.000%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$25as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$260.258% of the position
Funding, last 7 days+0.010%+$1 on $10k
+Price spread, last 3 days (all we have)+0.031%+$3 · spread now 0.000%, 7d avg −0.014%
=The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TRXUSDT | 0.3440 | 0.0076 | pay 0.0076% / 8h | 1h 12m | $3.8M | $1.6M | 50x |
| Short | BingX TRX-USDT | 0.3440 | 0.0100 | get 0.0100% / 8h | 1h 12m | — | $40.0M | — |
Phemex TRXUSDT
BingX TRX-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Phemex. 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
- $5.08
- Price spread: 0.000% → −0.014%
- $1.45
- Slippage, 4 orders
- −$3.82
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$19.3
- Costs to cover
- 0.258%
- Break-even
- 33.6 days
Slippage from Phemex: live order book, 2 min ago; BingX: live order book, 7 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 Phemex live order book, 2 min ago | 0.14 bp | 7.3 bp −$7 | 11.9 bp −$119 | doesn't fit | doesn't fit |
| Sell BingX live order book, 7 min ago | 0.29 bp | 5.3 bp −$5 | 7.1 bp −$71 | 16.6 bp −$1,658 | 46.0 bp −$23.0K |
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 |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | +0.023% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | −0.0072% | 8h | 0.3439 | −0.041% | $8.7M | $3.6M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3441 | +0.023% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0070% | 8h | 0.3439 | −0.033% | $562K | $39K | — | as long as short |
| Bybit TRXUSDT | −0.0053% | 8h | 0.3439 | −0.035% | $54.6M | $8.2M | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0029% | 1h | 0.3441 | +0.009% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | −0.0021% | 8h | 0.3438 | −0.052% | $825K | $720K | 75x | as long as short |
| OKX TRX-USDT-SWAP | −0.0003% | 8h | 0.3440 | −0.012% | $15.6M | $8.8M | 50x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | +0.064% | $181K | $10K | 10x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
Backpack TRX_USDC_PERP
HTX TRX-USDT
OKX TRX-USDT-SWAP
dYdX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3441 | +0.028% | $121K | — | 150x | as long as short |
| Lighter TRX | +0.0008% | 1h | 0.3439 | −0.029% | $482K | $637K | 10x | as long as short |
| Aster TRXUSDT | +0.0013% | 8h | 0.3440 | +0.003% | $956K | $659K | 75x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3439 | −0.037% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0016% | 8h | 0.3440 | −0.003% | $18.2M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0016% | 8h | 0.3440 | −0.012% | $99.2M | $48.2M | 75x | as long as short |
| SoDEX TRX-USD | +0.0020% | 1h | 0.3440 | −0.012% | $406 | $5K | 5x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3441 | +0.025% | $1.9M | $1.0M | 25x | as long as short |
| Paradex TRX-USD-PERP | +0.0037% | 8h | 0.3440 | −0.019% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDT | +0.0065% | 8h | 0.3440 | −0.012% | $4.6M | $4.0M | 50x | as long as short |
| Phemex TRXUSDTlong | +0.0076% | 8h | 0.3440 | long leg | $3.8M | $1.6M | 50x | |
| Gate TRX_USDT | +0.0084% | 8h | 0.3440 | −0.017% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3437 | −0.079% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3440 | −0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3441 | +0.037% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3440 | −0.017% | $9.4M | $2.0M | 75x | as long as short |
| BingX TRX-USDTshort | +0.0100% | 8h | 0.3440 | 0.000% | — | $40.0M | — | |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | −0.010% | $587K | $432K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3439 | −0.026% | $115K | $548K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | +0.042% | $196K | $918K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3441 | +0.021% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0436% | 1h | 0.3444 | +0.112% | $832K | $411K | 25x | as long as short |
gTrade (Gains Network) TRX/USD
Lighter TRX
Aster TRXUSDT
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
SoDEX TRX-USD
Kraken Futures PF_TRXUSD
Paradex TRX-USD-PERP
BloFin TRX-USDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL