TRX

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0034%/8h= +3.7% APRnext payment +$0.04 per $10,000 · paid last 24h −0.002%

Price spread now: Backpack against Phoenix−0.044%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. Backpack is 0.044% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 4.3 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TRX	0.3443	−0.0070	get 0.0009% / 1h	39m 08s	$5K	$13K	10x
Short	Backpack TRX_USDC_PERP	0.3441	−0.0036	pay 0.0004% / 1h	39m 08s	$58K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee BackpackbpOrdersPrice spread, now −0.044%Rate

Funding earned: $7.08
Price spread: −0.044% → 0.000%: −$4.36
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.27
Costs to cover: 0.170%
Break-even: 21.1 days

Slippage unknown: Phoenix: no order-book sample; Backpack: no order-book sample. 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 Phoenix no order-book sample	—	—	—	—	—
Sell Backpack no order-book sample	—	—	—	—	—

Phoenix and Backpack: 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	0.3441	−0.044%	$5	—	20x	as long as short
Injective TRX/USDC PERP	−0.0120%	1h	0.3441	−0.055%	$1K	$163K	12x	as long as short
Variational Omni TRX	−0.0083%	8h	0.3441	−0.052%	$563K	$39K	—	as long as short
Bybit TRXUSDT	−0.0075%	8h	0.3441	−0.052%	$54.7M	$8.2M	75x	as long as short
Phoenix TRXlong	−0.0070%	1h	0.3443	long leg	$5K	$13K	10x
Backpack TRX_USDC_PERPshort	−0.0036%	1h	0.3441	−0.044%	$58K	$4K	10x
KuCoin TRXUSDTM	−0.0029%	8h	0.3441	−0.046%	$8.7M	$3.6M	75x	as long as short
HTX TRX-USDT	−0.0020%	8h	0.3440	−0.079%	$826K	$715K	75x	as long as short
Aster TRXUSDT	−0.0013%	8h	0.3444	+0.019%	$959K	$656K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3443	−0.005%	$181K	$10K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRX-USDT-SWAP	+0.0001%	8h	0.3441	−0.044%	$15.6M	$8.8M	50x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3443	+0.003%	$121K	—	150x	as long as short
Extended TRX-USD	+0.0008%	1h	0.3441	−0.050%	$196K	$1.1M	25x	as long as short
MEXC TRX_USDT	+0.0010%	8h	0.3442	−0.015%	$18.2M	$1.7M	200x	as long as short
Binance TRXUSDT	+0.0010%	8h	0.3442	−0.029%	$99.3M	$48.4M	75x	as long as short
SoDEX TRX-USD	+0.0020%	1h	0.3442	−0.029%	$401	$5K	5x	as long as short
Lighter TRX	+0.0024%	1h	0.3442	−0.041%	$482K	$637K	10x	as long as short
Kraken Futures PF_TRXUSD	+0.0026%	1h	0.3443	+0.011%	$1.9M	$1.0M	25x	as long as short
BloFin TRX-USDT	+0.0042%	8h	0.3442	−0.026%	$4.6M	$4.0M	50x	as long as short
Paradex TRX-USD-PERP	+0.0053%	8h	0.3442	−0.036%	$9K	$385	20x	as long as short
Phemex TRXUSDT	+0.0071%	8h	0.3442	−0.026%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3440	−0.080%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3442	−0.035%	$14K	$107K	20x	as long as short
BingX TRX-USDT	+0.0092%	8h	0.3442	−0.032%	—	$40.0M	—	as long as short
Gate TRX_USDT	+0.0094%	8h	0.3442	−0.032%	$9.7M	$2.5M	75x	as long as short
Bitget TRXUSDT	+0.0097%	8h	0.3442	−0.015%	$9.4M	$2.0M	75x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3444	+0.023%	$13.2M	$2.2M	10x	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3442	−0.040%	$587K	$431K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3442	−0.038%	$115K	$546K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3444	+0.018%	$196K	$917K	30x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3443	−0.003%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0438%	1h	0.3446	+0.082%	$833K	$411K	25x	as long as short