Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0435%/8h= +47.6% APRpaid last 24h +0.103%

Price spread now: GMX against Variational Omni+0.056%50s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Variational Omni Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$13 a day on $10k at the current rate, and GMX is 0.056% dearer against Variational Omni than usual: you sell high and buy low: +$6 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 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	Variational Omni TRX	0.3442	−0.0040	get 0.0040% / 8h	33m 29s	$563K	$36K	—
Short	GMX TRX/USD [ETH-USDC]	0.3444	L +0.0366% / S −0.0395%	get 0.0049% / 1h	33m 29s	$20K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now +0.056%Rate

Funding earned: $91.37
Price spread: +0.056% → 0.000%: $5.59
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: $84.97
Costs to cover: 0.120%
Break-even: 0.5 days

Slippage unknown: Variational Omni: RFQ quote, 46 min ago; GMX: no order-book sample. 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 Variational Omni RFQ quote, 46 min ago	5.81 bp	doesn't fit	8.7 bp −$87	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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
Injective TRX/USDC PERP	−0.0146%	1h	0.3441	−0.032%	$1K	$163K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3443	+0.024%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0090%	8h	0.3443	+0.032%	$8.7M	$3.7M	75x	as long as short
Backpack TRX_USDC_PERP	−0.0081%	1h	0.3443	+0.017%	$58K	$4K	10x	as long as short
Phoenix TRX	−0.0070%	1h	0.3445	+0.078%	$5K	$13K	10x	as long as short
Variational Omni TRXlong	−0.0040%	8h	0.3442	long leg	$563K	$36K	—
HTX TRX-USDT	−0.0027%	8h	0.3442	−0.008%	$827K	$728K	75x	as long as short
Bybit TRXUSDT	−0.0021%	8h	0.3443	+0.017%	$54.7M	$8.0M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3445	+0.097%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3445	+0.071%	$121K	—	150x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRX-USDT-SWAP	+0.0014%	8h	0.3443	+0.035%	$15.6M	$8.7M	50x	as long as short
MEXC TRX_USDT	+0.0028%	8h	0.3443	+0.035%	$18.2M	$1.8M	200x	as long as short
Binance TRXUSDT	+0.0029%	8h	0.3443	+0.038%	$99.3M	$47.9M	75x	as long as short
Extended TRX-USD	+0.0032%	1h	0.3443	+0.019%	$196K	$1.1M	25x	as long as short
Aster TRXUSDT	+0.0052%	8h	0.3444	+0.064%	$956K	$659K	75x	as long as short
Kraken Futures PF_TRXUSD	+0.0062%	1h	0.3445	+0.081%	$1.9M	$1.0M	25x	as long as short
Paradex TRX-USD-PERP	+0.0065%	8h	0.3443	+0.030%	$9K	$385	20x	as long as short
Phemex TRXUSDT	+0.0083%	8h	0.3443	+0.035%	$3.8M	$1.6M	50x	as long as short
Gate TRX_USDT	+0.0085%	8h	0.3443	+0.023%	$9.6M	$2.5M	75x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3442	−0.012%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3443	+0.026%	$14K	$107K	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3443	+0.020%	$482K	$630K	10x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3445	+0.090%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3443	+0.038%	$9.5M	$2.2M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3443	+0.035%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3444	+0.045%	$588K	$431K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3445	+0.084%	$115K	$564K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3445	+0.073%	$196K	$923K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3443	+0.038%	$405	$5K	5x	as long as short
BloFin TRX-USDT	+0.0115%	8h	0.3443	+0.038%	$4.6M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]short	L +0.0366% / S −0.0395%	1h	0.3444	+0.056%	$20K	—	100x
Deribit TRX_USDC-PERPETUAL	+0.0409%	1h	0.3447	+0.148%	$830K	$414K	25x	as long as short