Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0047%/8h= −5.1% APRpaid last 24h −0.015%

Price spread now: Phoenix against Variational Omni+0.061%7-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 Phoenix

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

The price spread pays, funding is against you. Phoenix is 0.061% dearer against Variational Omni than usual: you sell high and buy low (spread +0.061% now, against zero (this spread has no 7-day history yet)): +$6 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 4.3 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni TRX	0.3442	−0.0023	get 0.0023% / 8h	11m 25s	$563K	$36K	—
Short	Phoenix TRX	0.3444	−0.0070	pay 0.0009% / 1h	11m 25s	$5K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$9.87
Price spread: +0.061% → 0.000%: $6.1
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$10.77
Costs to cover: 0.070%
Break-even: never at this rate

Slippage unknown: Variational Omni: RFQ quote, 3 min ago; Phoenix: 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, 3 min ago	5.81 bp	doesn't fit	8.7 bp −$87	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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
Injective TRX/USDC PERP	−0.0146%	1h	0.3441	−0.029%	$1K	$163K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3442	+0.012%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0095%	8h	0.3443	+0.023%	$8.7M	$3.6M	75x	as long as short
Backpack TRX_USDC_PERP	−0.0078%	1h	0.3443	+0.026%	$58K	$4K	10x	as long as short
Phoenix TRXshort	−0.0070%	1h	0.3444	+0.061%	$5K	$13K	10x
Variational Omni TRXlong	−0.0023%	8h	0.3442	long leg	$563K	$36K	—
HTX TRX-USDT	−0.0019%	8h	0.3441	−0.019%	$827K	$731K	75x	as long as short
Bybit TRXUSDT	−0.0012%	8h	0.3442	+0.003%	$54.6M	$8.1M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3444	+0.069%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3444	+0.068%	$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	+0.0028%	8h	0.3443	+0.023%	$15.6M	$8.8M	50x	as long as short
MEXC TRX_USDT	+0.0036%	8h	0.3444	+0.046%	$18.2M	$1.9M	200x	as long as short
Binance TRXUSDT	+0.0037%	8h	0.3443	+0.042%	$99.3M	$47.9M	75x	as long as short
Extended TRX-USD	+0.0040%	1h	0.3442	+0.007%	$196K	$1.1M	25x	as long as short
Kraken Futures PF_TRXUSD	+0.0062%	1h	0.3444	+0.071%	$1.9M	$1.0M	25x	as long as short
Paradex TRX-USD-PERP	+0.0074%	8h	0.3443	+0.015%	$9K	$385	20x	as long as short
Aster TRXUSDT	+0.0075%	8h	0.3443	+0.036%	$956K	$660K	75x	as long as short
Lighter TRX	+0.0080%	1h	0.3443	+0.020%	$482K	$630K	10x	as long as short
SoDEX TRX-USD	+0.0081%	1h	0.3443	+0.032%	$404	$5K	5x	as long as short
Gate TRX_USDT	+0.0082%	8h	0.3443	+0.023%	$9.6M	$2.5M	75x	as long as short
Phemex TRXUSDT	+0.0084%	8h	0.3443	+0.035%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3442	−0.013%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0091%	8h	0.3443	+0.017%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3445	+0.080%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3443	+0.020%	$9.5M	$2.2M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3443	+0.023%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3443	+0.024%	$588K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3444	+0.049%	$115K	$568K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3444	+0.045%	$196K	$927K	30x	as long as short
BloFin TRX-USDT	+0.0142%	8h	0.3443	+0.035%	$4.6M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3444	+0.050%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0485%	1h	0.3447	+0.137%	$832K	$417K	25x	as long as short