Funding you earn now, next payment 00:00 UTC−0.0027%/8h= −2.9% APRnext payment −$0.27 per $10,000 · paid last 24h −0.021%
Price spread now: Phemex against SunX−0.098%7-day average +0.108% · you buy dearer than you sell
Net, funding: paid 7d − costs−$73as in the Funding arb table
Net, price: spread back to 7d avg − costs−$80as in the Price arb table
costs, in and out, $10k−$590.594% of the position
Funding, last 7 days−0.138%−$14 on $10k
+Price spread, last 3 days (all we have)+0.223%+$22 · spread now −0.098%, 7d avg +0.108%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and Phemex is 0.206% cheaper against SunX than usual: you would sell low and buy high (−$21 if the spread goes back to its 7-day average of +0.108%). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | SunX TRX-USDT | 0.3442 | 0.0100 | pay 0.0100% / 8h | 2h 36m | $196K | $914K | 30x |
| Short | Phemex TRXUSDT | 0.3438 | 0.0073 | get 0.0073% / 8h | 2h 36m | $3.8M | $1.6M | 50x |
SunX TRX-USDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against SunX. 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
- −$5.66
- Price spread: −0.098% → +0.108%
- −$20.58
- Slippage, 4 orders
- −$39.39
- Fee SunX: 4 bp × 2 orders
- −$8
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$85.62
- Costs to cover
- 0.594%
- Break-even
- never at this rate
Slippage from SunX: live order book, 46 min ago; Phemex: live order book, 3 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, 46 min ago | 2.99 bp | 10.3 bp −$10 | 24.8 bp −$248 | doesn't fit | doesn't fit |
| Sell Phemex live order book, 3 min ago | 0.14 bp | 8.1 bp −$8 | 10.9 bp −$109 | 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 | 0.3438 | −0.110% | $5 | — | 20x | as long as short |
| Bybit TRXUSDT | −0.0091% | 8h | 0.3437 | −0.133% | $54.7M | $8.2M | 75x | as long as short |
| Variational Omni TRX | −0.0087% | 8h | 0.3438 | −0.118% | $562K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3439 | −0.075% | $5K | $13K | 10x | as long as short |
| Aster TRXUSDT | −0.0057% | 8h | 0.3437 | −0.121% | $950K | $634K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3439 | −0.075% | $1K | $100K | 12x | as long as short |
| Backpack TRX_USDC_PERP | −0.0044% | 1h | 0.3438 | −0.101% | $58K | $7K | 10x | as long as short |
| HTX TRX-USDT | −0.0034% | 8h | 0.3436 | −0.156% | $825K | $707K | 75x | as long as short |
| SoDEX TRX-USD | −0.0021% | 1h | 0.3438 | −0.098% | $402 | $5K | 5x | as long as short |
| Lighter TRX | −0.0008% | 1h | 0.3438 | −0.115% | $483K | $628K | 10x | as long as short |
Reya TRXRUSDPERP
Bybit TRXUSDT
Variational Omni TRX
Phoenix TRX
Aster TRXUSDT
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
HTX TRX-USDT
SoDEX TRX-USD
Lighter TRXShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TRXUSDT | −0.0003% | 8h | 0.3438 | −0.098% | $99.3M | $49.2M | 75x | as long as short |
| MEXC TRX_USDT | −0.0002% | 8h | 0.3438 | −0.101% | $17.2M | $1.6M | 200x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3437 | −0.119% | $196K | $1.1M | 25x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3440 | −0.055% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0007% | 8h | 0.3438 | −0.101% | $15.6M | $8.8M | 50x | as long as short |
| Paradex TRX-USD-PERP | +0.0036% | 8h | 0.3438 | −0.102% | $9K | $385 | 20x | as long as short |
| KuCoin TRXUSDTM | +0.0039% | 8h | 0.3436 | −0.159% | $8.7M | $3.6M | 75x | as long as short |
| BingX TRX-USDC | +0.0066% | 8h | 0.3438 | −0.112% | — | $6.5M | — | as long as short |
| Bitget TRXUSDT | +0.0067% | 8h | 0.3438 | −0.110% | $9.4M | $2.1M | 75x | as long as short |
| Phemex TRXUSDTshort | +0.0073% | 8h | 0.3438 | −0.098% | $3.8M | $1.6M | 50x | |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3437 | −0.146% | $33K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3440 | −0.047% | $1.9M | $978K | 25x | as long as short |
| Orderly PERP_TRX_USDC | +0.0087% | 8h | 0.3438 | −0.098% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3440 | −0.050% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3438 | −0.104% | $9.7M | $2.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3438 | −0.109% | $587K | $435K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3438 | −0.098% | $115K | $540K | 50x | as long as short |
| SunX TRX-USDTlong | +0.0100% | 8h | 0.3442 | long leg | $196K | $914K | 30x | |
| BloFin TRX-USDT | +0.0118% | 8h | 0.3439 | −0.075% | $4.6M | $4.0M | 50x | as long as short |
| dYdX TRX-USD | +0.0136% | 1h | 0.3439 | −0.085% | $181K | $10K | 10x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0351% / S −0.0367% | 1h | 0.3439 | −0.071% | $19K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0375% | 1h | 0.3442 | +0.025% | $828K | $407K | 25x | as long as short |
Binance TRXUSDT
MEXC TRX_USDT
Extended TRX-USD
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
Paradex TRX-USD-PERP
KuCoin TRXUSDTM
BingX TRX-USDC
Bitget TRXUSDT
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
Orderly PERP_TRX_USDC
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
BloFin TRX-USDT
dYdX TRX-USD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL