Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.043%

Price spread now: BloFin against Phoenix−0.061%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 BloFin

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. BloFin is 0.061% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.061% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$6 on $10k: about 2.0 days of funding at the current rate (+$3 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	52m 42s	$5K	$13K	10x
Short	BloFin TRX-USDT	0.3441	0.0030	get 0.0030% / 8h	1h 52m	$4.6M	$4.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.061%Rate

Funding earned: $20.94
Price spread: −0.061% → 0.000%: −$6.1
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$4.16
Costs to cover: 0.190%
Break-even: 8.4 days

Slippage unknown: Phoenix: no order-book sample; BloFin: live order book, 6 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 BloFin live order book, 6 min ago	0.14 bp	7.8 bp −$8	10.1 bp −$101	23.6 bp −$2,364	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	−0.067%	$5	—	20x	as long as short
Injective TRX/USDC PERP	−0.0120%	1h	0.3441	−0.052%	$1K	$163K	12x	as long as short
Variational Omni TRX	−0.0086%	8h	0.3440	−0.075%	$563K	$39K	—	as long as short
Bybit TRXUSDT	−0.0080%	8h	0.3440	−0.073%	$54.7M	$8.2M	75x	as long as short
Phoenix TRXlong	−0.0070%	1h	0.3443	long leg	$5K	$13K	10x
Aster TRXUSDT	−0.0024%	8h	0.3440	−0.077%	$952K	$638K	75x	as long as short
HTX TRX-USDT	−0.0019%	8h	0.3440	−0.076%	$826K	$713K	75x	as long as short
KuCoin TRXUSDTM	−0.0014%	8h	0.3440	−0.081%	$8.7M	$3.6M	75x	as long as short
Lighter TRX	0.0000%	1h	0.3440	−0.070%	$482K	$637K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3443	−0.002%	$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
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3442	−0.011%	$121K	—	150x	as long as short
OKX TRX-USDT-SWAP	+0.0004%	8h	0.3441	−0.058%	$15.6M	$8.8M	50x	as long as short
MEXC TRX_USDT	+0.0006%	8h	0.3441	−0.055%	$18.2M	$1.7M	200x	as long as short
Binance TRXUSDT	+0.0008%	8h	0.3441	−0.055%	$99.3M	$48.8M	75x	as long as short
Extended TRX-USD	+0.0008%	1h	0.3440	−0.079%	$196K	$1.1M	25x	as long as short
Backpack TRX_USDC_PERP	+0.0016%	1h	0.3441	−0.064%	$58K	$4K	10x	as long as short
Kraken Futures PF_TRXUSD	+0.0026%	1h	0.3443	−0.005%	$1.9M	$979K	25x	as long as short
SoDEX TRX-USD	+0.0027%	1h	0.3441	−0.061%	$406	$5K	5x	as long as short
BloFin TRX-USDTshort	+0.0030%	8h	0.3441	−0.061%	$4.6M	$4.0M	50x
Paradex TRX-USD-PERP	+0.0055%	8h	0.3441	−0.057%	$9K	$385	20x	as long as short
Phemex TRXUSDT	+0.0076%	8h	0.3441	−0.049%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3439	−0.103%	$33K	—	3x	as long as short
BingX TRX-USDT	+0.0084%	8h	0.3442	−0.038%	—	$40.0M	—	as long as short
Bitget TRXUSDT	+0.0088%	8h	0.3441	−0.049%	$9.4M	$2.1M	75x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3441	−0.052%	$14K	$107K	20x	as long as short
Gate TRX_USDT	+0.0097%	8h	0.3440	−0.073%	$9.7M	$2.5M	75x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3443	−0.009%	$13.2M	$2.2M	10x	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3442	−0.037%	$587K	$433K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3442	−0.029%	$115K	$547K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3443	−0.003%	$196K	$918K	30x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3442	−0.025%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0476%	1h	0.3445	+0.053%	$832K	$411K	25x	as long as short