Funding you earn now, next payment 08:00 UTC−0.0024%/8h= −2.6% APRnext payment −$0.24 per $10,000 · paid last 24h −0.057%
Price spread now: HTX against Phemex−0.016%7-day average −0.046% · you buy dearer than you sell
Net, funding: paid 7d − costs−$75as in the Funding arb table
Net, price: spread back to 7d avg − costs−$34as in the Price arb table
costs, in and out, $10k−$370.367% of the position
Funding, last 7 days−0.386%−$39 on $10k
+Price spread, last 3 days (all we have)−0.040%−$4 · spread now −0.016%, 7d avg −0.046%
=The price spread pays, funding is against you. HTX is 0.030% dearer against Phemex than usual: you sell high and buy low (spread −0.016% now, against its 7-day average of −0.046%): +$3 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.2 days. At the pace of the last 7 days (−0.386% in total) that is about 13 hours.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TRXUSDT | 0.3451 | 0.0100 | pay 0.0100% / 8h | 7h 38m | $3.8M | $1.6M | 50x |
| Short | HTX TRX-USDT | 0.3450 | 0.0076 | get 0.0076% / 8h | 7h 38m | $828K | $736K | 75x |
Phemex TRXUSDT
HTX TRX-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
HTX 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
- −$5.03
- Price spread: −0.016% → −0.046%
- $3.03
- Slippage, 4 orders
- −$12.74
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee HTX: 6 bp × 2 orders
- −$12
- Net
- −$38.74
- Costs to cover
- 0.367%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; HTX: live order book, 35 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, 5 min ago | 1.16 bp | 8.8 bp −$9 | 12.5 bp −$125 | doesn't fit | doesn't fit |
| Sell HTX live order book, 35 min ago | 4.27 bp | 10.3 bp −$10 | 17.3 bp −$173 | doesn't fit | doesn't fit |
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 | 0.3450 | −0.022% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0089% | 8h | 0.3450 | −0.029% | $8.7M | $3.5M | 75x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3451 | +0.009% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3450 | −0.012% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3451 | +0.020% | $122K | — | 150x | as long as short |
| Variational Omni TRX | +0.0014% | 8h | 0.3449 | −0.053% | $564K | $36K | — | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.284% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0050% | 1h | 0.3450 | −0.014% | $58K | $4K | 10x | as long as short |
| OKX TRX-USDT-SWAP | +0.0055% | 8h | 0.3452 | +0.020% | $15.6M | $8.1M | 50x | as long as short |
| Extended TRX-USD | +0.0056% | 1h | 0.3450 | −0.028% | $197K | $1.3M | 25x | as long as short |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Variational Omni TRX
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
OKX TRX-USDT-SWAP
Extended TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TRX_USDT | +0.0059% | 8h | 0.3451 | −0.003% | $18.3M | $1.9M | 200x | as long as short |
| Binance TRXUSDT | +0.0060% | 8h | 0.3451 | −0.006% | $100.1M | $47.1M | 75x | as long as short |
| HTX TRX-USDTshort | +0.0076% | 8h | 0.3450 | −0.016% | $828K | $736K | 75x | |
| Gate TRX_USDT | +0.0085% | 8h | 0.3451 | +0.012% | $9.7M | $2.4M | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0086% | 8h | 0.3450 | −0.011% | $9K | $385 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3451 | −0.009% | $14K | $107K | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3450 | −0.020% | $483K | $630K | 10x | as long as short |
| Aevo TRX-PERP | +0.0096% | 1h | 0.3449 | −0.065% | $33K | — | 3x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3453 | +0.049% | $13.2M | $2.2M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3450 | −0.032% | $957K | $657K | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3451 | +0.006% | $54.8M | $8.0M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3449 | −0.038% | $9.4M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3451 | 0.000% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3450 | −0.029% | $589K | $434K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3450 | −0.023% | $115K | $569K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3449 | −0.042% | $196K | $934K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3451 | −0.003% | $402 | $5K | 5x | as long as short |
| Phemex TRXUSDTlong | +0.0100% | 8h | 0.3451 | long leg | $3.8M | $1.6M | 50x | |
| Kraken Futures PF_TRXUSD | +0.0172% | 1h | 0.3454 | +0.084% | $2.2M | $1.4M | 25x | as long as short |
| BloFin TRX-USDT | +0.0179% | 8h | 0.3451 | −0.006% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0367% / S −0.0395% | 1h | 0.3451 | +0.006% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0558% | 1h | 0.3454 | +0.100% | $834K | $417K | 25x | as long as short |
MEXC TRX_USDT
Binance TRXUSDT
Gate TRX_USDT
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
Lighter TRX
Aevo TRX-PERP
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL