Funding you earn now, next payment 21:00 UTC+0.0071%/8h= +7.7% APRpaid last 24h +0.016%
Price spread now: Binance against Phoenix−0.035%55s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
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. Binance is 0.035% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.035% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 40 hours of funding at the current rate (+$2 a day). The two prices were read 55 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 | Phoenix TRX | 0.3442 | −0.0070 | get 0.0009% / 1h | 14m 36s | $5K | $13K | 10x |
| Short | Binance TRXUSDT | 0.3441 | 0.0001 | get 0.0001% / 8h | 2h 14m | $99.3M | $49.0M | 75x |
Phoenix TRX
Binance TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Binance against Phoenix. 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
- $14.81
- Price spread: −0.035% → 0.000%
- −$3.49
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Binance: 5 bp × 2 orders
- −$10
- Net
- −$5.67
- Costs to cover
- 0.170%
- Break-even
- 9.7 days
Slippage unknown: Phoenix: no order-book sample; Binance: live order book, 13 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Binance live order book, 13 min ago | 0.14 bp | 6.7 bp −$7 | 12.7 bp −$127 | 37.8 bp −$3,777 | doesn't fit |
Phoenix: 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 | −0.050% | $5 | — | 20x | as long as short |
| Variational Omni TRX | −0.0090% | 8h | 0.3439 | −0.086% | $563K | $39K | — | as long as short |
| Bybit TRXUSDT | −0.0089% | 8h | 0.3440 | −0.067% | $54.7M | $8.2M | 75x | as long as short |
| Phoenix TRXlong | −0.0070% | 1h | 0.3442 | long leg | $5K | $13K | 10x | |
| Backpack TRX_USDC_PERP | −0.0065% | 1h | 0.3441 | −0.044% | $58K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3440 | −0.067% | $1K | $129K | 12x | as long as short |
| Aster TRXUSDT | −0.0039% | 8h | 0.3441 | −0.038% | $951K | $638K | 75x | as long as short |
| HTX TRX-USDT | −0.0026% | 8h | 0.3440 | −0.073% | $826K | $710K | 75x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3440 | −0.055% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | 0.0000% | 8h | 0.3441 | −0.029% | $17.9M | $1.7M | 200x | as long as short |
Reya TRXRUSDPERP
Variational Omni TRX
Bybit TRXUSDT
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Aster TRXUSDT
HTX TRX-USDT
Extended TRX-USD
MEXC TRX_USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TRXUSDTshort | +0.0001% | 8h | 0.3441 | −0.035% | $99.3M | $49.0M | 75x | |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3443 | +0.008% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0005% | 8h | 0.3442 | −0.020% | $15.6M | $8.8M | 50x | as long as short |
| Lighter TRX | +0.0008% | 1h | 0.3441 | −0.044% | $482K | $639K | 10x | as long as short |
| KuCoin TRXUSDTM | +0.0009% | 8h | 0.3441 | −0.046% | $8.7M | $3.6M | 75x | as long as short |
| SoDEX TRX-USD | +0.0037% | 1h | 0.3441 | −0.038% | $405 | $5K | 5x | as long as short |
| Paradex TRX-USD-PERP | +0.0054% | 8h | 0.3441 | −0.044% | $9K | $385 | 20x | as long as short |
| BingX TRX-USDC | +0.0073% | 8h | 0.3441 | −0.049% | — | $6.5M | — | as long as short |
| Phemex TRXUSDT | +0.0073% | 8h | 0.3441 | −0.035% | $3.8M | $1.6M | 50x | as long as short |
| Bitget TRXUSDT | +0.0076% | 8h | 0.3441 | −0.038% | $9.4M | $2.1M | 75x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3440 | −0.074% | $33K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3443 | +0.030% | $1.9M | $975K | 25x | as long as short |
| Orderly PERP_TRX_USDC | +0.0089% | 8h | 0.3441 | −0.035% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3443 | +0.020% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3441 | −0.044% | $9.7M | $2.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | −0.037% | $587K | $438K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | −0.038% | $115K | $541K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3444 | +0.045% | $196K | $918K | 30x | as long as short |
| BloFin TRX-USDT | +0.0101% | 8h | 0.3441 | −0.032% | $4.6M | $4.0M | 50x | as long as short |
| dYdX TRX-USD | +0.0125% | 1h | 0.3443 | +0.011% | $181K | $10K | 10x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0337% | 1h | 0.3445 | +0.085% | $829K | $407K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3442 | −0.006% | $20K | — | 100x | as long as short |
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Lighter TRX
KuCoin TRXUSDTM
SoDEX TRX-USD
Paradex TRX-USD-PERP
BingX TRX-USDC
Phemex TRXUSDT
Bitget TRXUSDT
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
Orderly PERP_TRX_USDC
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
dYdX TRX-USD
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]