Funding you earn now, next payment 00:00 UTC−0.0114%/8h= −12.5% APRnext payment −$1.14 per $10,000 · paid last 24h −0.028%
Price spread now: KuCoin against Phemex−0.041%7-day average −0.009% · you buy dearer than you sell
Net, funding: paid 7d − costs−$51as in the Funding arb table
Net, price: spread back to 7d avg − costs−$42as in the Price arb table
costs, in and out, $10k−$390.393% of the position
Funding, last 7 days−0.119%−$12 on $10k
+Price spread, last 3 days (all we have)+0.097%+$10 · spread now −0.041%, 7d avg −0.009%
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and KuCoin is 0.031% cheaper against Phemex than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.009%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TRXUSDT | 0.3440 | 0.0067 | pay 0.0067% / 8h | 1h 29m | $3.8M | $1.6M | 50x |
| Short | KuCoin TRXUSDTM | 0.3438 | −0.0047 | pay 0.0047% / 8h | 1h 29m | $8.6M | $3.7M | 75x |
Phemex TRXUSDT
KuCoin TRXUSDTMFunding history
latest
Range statsloading…
Price spread between the two exchanges
KuCoin 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
- −$23.89
- Price spread: −0.041% → −0.009%
- −$3.12
- Slippage, 4 orders
- −$15.33
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee KuCoin: 6 bp × 2 orders
- −$12
- Net
- −$66.34
- Costs to cover
- 0.393%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 4 min ago; KuCoin: 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 Phemex live order book, 4 min ago | 0.14 bp | 6.7 bp −$7 | 13.0 bp −$130 | doesn't fit | doesn't fit |
| Sell KuCoin live order book, 3 min ago | 0.87 bp | 9.8 bp −$10 | 46.2 bp −$462 | 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 | 0.3439 | −0.023% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | +0.041% | $1K | $163K | 12x | as long as short |
| Variational Omni TRX | −0.0082% | 8h | 0.3439 | −0.015% | $562K | $39K | — | as long as short |
| Bybit TRXUSDT | −0.0072% | 8h | 0.3438 | −0.038% | $54.6M | $8.2M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | +0.064% | $5K | $13K | 10x | as long as short |
| KuCoin TRXUSDTMshort | −0.0047% | 8h | 0.3438 | −0.041% | $8.6M | $3.7M | 75x | |
| Backpack TRX_USDC_PERP | −0.0029% | 1h | 0.3440 | +0.017% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | −0.0021% | 8h | 0.3439 | −0.026% | $825K | $717K | 75x | as long as short |
| SoDEX TRX-USD | −0.0015% | 1h | 0.3440 | 0.000% | $404 | $5K | 5x | as long as short |
| Aster TRXUSDT | −0.0006% | 8h | 0.3440 | +0.012% | $958K | $658K | 75x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
Variational Omni TRX
Bybit TRXUSDT
Phoenix TRX
Backpack TRX_USDC_PERP
HTX TRX-USDT
SoDEX TRX-USD
Aster TRXUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | −0.0002% | 8h | 0.3439 | −0.006% | $15.6M | $8.8M | 50x | as long as short |
| Lighter TRX | 0.0000% | 1h | 0.3439 | −0.015% | $482K | $637K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3443 | +0.091% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3441 | +0.045% | $121K | — | 150x | as long as short |
| Extended TRX-USD | +0.0008% | 1h | 0.3439 | −0.029% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0010% | 8h | 0.3440 | +0.003% | $18.2M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0010% | 8h | 0.3440 | +0.006% | $99.2M | $48.3M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3441 | +0.039% | $1.9M | $1.0M | 25x | as long as short |
| BloFin TRX-USDT | +0.0043% | 8h | 0.3440 | +0.009% | $4.6M | $4.0M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0046% | 8h | 0.3439 | −0.013% | $9K | $385 | 20x | as long as short |
| Phemex TRXUSDTlong | +0.0067% | 8h | 0.3440 | long leg | $3.8M | $1.6M | 50x | |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3439 | −0.021% | $33K | — | 3x | as long as short |
| Gate TRX_USDT | +0.0088% | 8h | 0.3439 | −0.020% | $9.6M | $2.5M | 75x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3439 | −0.009% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3441 | +0.052% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3439 | −0.012% | $9.4M | $2.0M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3439 | −0.009% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | +0.018% | $587K | $432K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | +0.020% | $115K | $546K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3441 | +0.040% | $196K | $918K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3441 | +0.039% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0413% | 1h | 0.3444 | +0.114% | $832K | $411K | 25x | as long as short |
OKX TRX-USDT-SWAP
Lighter TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
Paradex TRX-USD-PERP
Aevo TRX-PERP
Gate TRX_USDT
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL