Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0074%/8h= −8.1% APRpaid last 24h −0.001%

Price spread now: Kraken Futures against SunX+0.016%7-day average +0.125% · you sell dearer than you buy

Net, funding: paid 7d − costs−$90as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$620.620% of the position

Long on SunX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.282%−$28 on $10k

Price spread, last 3 days (all we have)+0.179%+$18 · spread now +0.016%, 7d avg +0.125%

Together, before fees−0.103%−$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Kraken Futures is 0.109% cheaper against SunX than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of +0.125%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TRX-USDT	0.3443	0.0100	pay 0.0100% / 8h	1h 21m	$196K	$918K	30x
Short	Kraken Futures PF_TRXUSD	0.3443	0.0026	get 0.0003% / 1h	21m 30s	$1.9M	$1.0M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against SunX. 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 SunXbpFee Kraken FuturesbpOrdersPrice spread, now +0.016%Rate

Funding earned: −$15.45
Price spread: +0.016% → +0.125%: −$10.85
Slippage, 4 orders: −$43.95
Fee SunX: 4 bp × 2 orders: −$8
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$88.25
Costs to cover: 0.620%
Break-even: never at this rate

Slippage from SunX: live order book, 51 min ago; Kraken Futures: live order book, 2 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 SunX live order book, 51 min ago	6.51 bp	19.1 bp −$19	26.5 bp −$265	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	1.89 bp	9.0 bp −$9	19.4 bp −$194	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	0.3441	−0.058%	$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	−0.0078%	8h	0.3440	−0.079%	$563K	$39K	—	as long as short
Phoenix TRX	−0.0070%	1h	0.3442	−0.012%	$5K	$13K	10x	as long as short
Bybit TRXUSDT	−0.0056%	8h	0.3441	−0.052%	$54.6M	$8.2M	75x	as long as short
KuCoin TRXUSDTM	−0.0054%	8h	0.3441	−0.061%	$8.7M	$3.6M	75x	as long as short
Backpack TRX_USDC_PERP	−0.0024%	1h	0.3441	−0.058%	$58K	$4K	10x	as long as short
HTX TRX-USDT	−0.0018%	8h	0.3438	−0.140%	$826K	$718K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3442	−0.011%	$181K	$10K	10x	as long as short
OKX TRX-USDT-SWAP	+0.0001%	8h	0.3441	−0.049%	$15.6M	$8.8M	50x	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	0.3443	−0.001%	$121K	—	150x	as long as short
Aster TRXUSDT	+0.0008%	8h	0.3442	−0.025%	$957K	$658K	75x	as long as short
MEXC TRX_USDT	+0.0015%	8h	0.3442	−0.026%	$18.2M	$1.7M	200x	as long as short
Lighter TRX	+0.0016%	1h	0.3441	−0.058%	$482K	$637K	10x	as long as short
Extended TRX-USD	+0.0016%	1h	0.3441	−0.065%	$196K	$1.1M	25x	as long as short
Binance TRXUSDT	+0.0017%	8h	0.3442	−0.032%	$99.3M	$48.3M	75x	as long as short
Kraken Futures PF_TRXUSDshort	+0.0026%	1h	0.3443	+0.016%	$1.9M	$1.0M	25x
SoDEX TRX-USD	+0.0031%	1h	0.3442	−0.038%	$400	$5K	5x	as long as short
Paradex TRX-USD-PERP	+0.0053%	8h	0.3441	−0.057%	$9K	$385	20x	as long as short
BloFin TRX-USDT	+0.0061%	8h	0.3441	−0.041%	$4.6M	$4.0M	50x	as long as short
Phemex TRXUSDT	+0.0076%	8h	0.3442	−0.038%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3440	−0.094%	$33K	—	3x	as long as short
Gate TRX_USDT	+0.0089%	8h	0.3441	−0.052%	$9.6M	$2.5M	75x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3441	−0.049%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3443	+0.009%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3441	−0.046%	$9.4M	$2.0M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3441	−0.046%	—	$6.5M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.052%	$587K	$431K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3443	−0.006%	$115K	$547K	50x	as long as short
SunX TRX-USDTlong	+0.0100%	8h	0.3443	long leg	$196K	$918K	30x
Deribit TRX_USDC-PERPETUAL	+0.0223%	1h	0.3444	+0.048%	$832K	$411K	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3442	−0.019%	$20K	—	100x	as long as short