Funding you earn now, next payment 21:00 UTC+0.0299%/8h= +32.8% APRnext payment +$0.37 per $10,000 · paid last 24h +0.081%
Price spread now: Deribit against Phoenix+0.111%7-day average — · you sell dearer than you buy
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
Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Deribit is 0.111% dearer against Phoenix than usual: you sell high and buy low: +$11 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TRX | 0.3440 | −0.0070 | get 0.0009% / 1h | 52m 35s | $5K | $13K | 10x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3444 | 0.0229 | get 0.0029% / 1h | 52m 35s | $828K | $407K | 25x |
Phoenix TRX
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $62.81
- Price spread: +0.111% → 0.000%
- $11.08
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $59.89
- Costs to cover
- 0.140%
- Break-even
- 0.3 days
Slippage unknown: Phoenix: no order-book sample; Deribit: live order book, 36 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 Deribit live order book, 36 min ago | 0.73 bp | 7.1 bp −$7 | doesn't fit | doesn't fit | 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 | 0.3440 | −0.014% | $5 | — | 20x | as long as short |
| Bybit TRXUSDT | −0.0095% | 8h | 0.3438 | −0.055% | $54.7M | $8.2M | 75x | as long as short |
| BingX TRX-USDC | −0.0094% | 8h | 0.3439 | −0.015% | — | $6.5M | — | as long as short |
| Backpack TRX_USDC_PERP | −0.0085% | 1h | 0.3440 | −0.009% | $58K | $7K | 10x | as long as short |
| Variational Omni TRX | −0.0083% | 8h | 0.3437 | −0.073% | $562K | $39K | — | as long as short |
| Phoenix TRXlong | −0.0070% | 1h | 0.3440 | long leg | $5K | $13K | 10x | |
| Aster TRXUSDT | −0.0056% | 8h | 0.3439 | −0.020% | $951K | $636K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3439 | −0.029% | $1K | $100K | 12x | as long as short |
| HTX TRX-USDT | −0.0037% | 8h | 0.3438 | −0.055% | $826K | $705K | 75x | as long as short |
| SoDEX TRX-USD | −0.0035% | 1h | 0.3440 | −0.012% | $401 | $5K | 5x | as long as short |
Reya TRXRUSDPERP
Bybit TRXUSDT
BingX TRX-USDC
Backpack TRX_USDC_PERP
Variational Omni TRX
Aster TRXUSDT
Injective TRX/USDC PERP
HTX TRX-USDT
SoDEX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TRX | −0.0008% | 1h | 0.3439 | −0.023% | $483K | $628K | 10x | as long as short |
| Binance TRXUSDT | −0.0001% | 8h | 0.3440 | −0.009% | $99.3M | $49.4M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | +0.019% | $181K | $10K | 10x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3439 | −0.028% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | 0.0000% | 8h | 0.3440 | +0.003% | $17.2M | $1.6M | 200x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3441 | +0.036% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0011% | 8h | 0.3439 | −0.017% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0044% | 8h | 0.3440 | −0.008% | $9K | $385 | 20x | as long as short |
| Bitget TRXUSDT | +0.0065% | 8h | 0.3440 | −0.009% | $9.4M | $2.1M | 75x | as long as short |
| KuCoin TRXUSDTM | +0.0067% | 8h | 0.3439 | −0.023% | $8.7M | $3.6M | 75x | as long as short |
| Phemex TRXUSDT | +0.0080% | 8h | 0.3440 | −0.012% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3438 | −0.055% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0086% | 8h | 0.3440 | +0.003% | $14K | $107K | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3442 | +0.056% | $1.9M | $994K | 25x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3442 | +0.058% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3440 | −0.012% | $9.7M | $2.4M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3439 | −0.023% | $587K | $435K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.012% | $115K | $542K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | +0.066% | $196K | $912K | 30x | as long as short |
| BloFin TRX-USDT | +0.0119% | 8h | 0.3439 | −0.020% | $4.6M | $4.0M | 50x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0229% | 1h | 0.3444 | +0.111% | $828K | $407K | 25x | |
| GMX TRX/USD [ETH-USDC] | L +0.0351% / S −0.0367% | 1h | 0.3441 | +0.024% | $19K | — | 100x | as long as short |
Lighter TRX
Binance TRXUSDT
dYdX TRX-USD
Extended TRX-USD
MEXC TRX_USDT
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
Bitget TRXUSDT
KuCoin TRXUSDTM
Phemex TRXUSDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Kraken Futures PF_TRXUSD
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]