Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.070%

Price spread now: HTX against ApeX Omni−0.149%76s7-day average −0.045% · you buy dearer than you sell

Net, funding: paid 7d − costs−$107as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$460.464% of the position

Long on ApeX Omni Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.605%−$60 on $10k

Price spread, last 4 days (all we have)+0.012%+$1 · spread now −0.149%, 7d avg −0.045%

Together, before fees−0.593%−$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and HTX is 0.104% cheaper against ApeX Omni than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.045%). Swap the legs. The two prices were read 76 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	ApeX Omni TRXUSDT	0.3490	0.0100	pay 0.0013% / 1h	3m 40s	$116K	$579K	50x
Short	HTX TRX-USDT	0.3485	0.0007	get 0.0007% / 8h	2h 03m	$833K	$932K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against ApeX 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 ApeX OmnibpFee HTXbpOrdersPrice spread, now −0.149%Rate

Funding earned: −$19.53
Price spread: −0.149% → −0.045%: −$10.38
Slippage, 4 orders: −$24.39
Fee ApeX Omni: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$76.3
Costs to cover: 0.464%
Break-even: never at this rate

Slippage from ApeX Omni: live order book, 44 min ago; HTX: live order book, 45 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 ApeX Omni live order book, 44 min ago	4.59 bp	12.6 bp −$13	107.7 bp −$1,077	doesn't fit	doesn't fit
Sell HTX live order book, 45 min ago	2.93 bp	12.3 bp −$12	19.0 bp −$190	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	0.3486	−0.117%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3489	−0.014%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	−0.104%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3487	−0.087%	$123K	—	150x	as long as short
HTX TRX-USDTshort	+0.0007%	8h	0.3485	−0.149%	$833K	$932K	75x
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.404%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3487	−0.089%	—	$32.8M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3486	−0.109%	$487K	$671K	10x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3486	−0.127%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3486	−0.103%	$14K	$60K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3489	−0.025%	$13.2M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3488	−0.056%	$967K	$701K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3486	−0.103%	$107.2M	$62.5M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3486	−0.115%	$53.6M	$12.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3486	−0.103%	$15.5M	$10.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3487	−0.100%	$9.7M	$3.2M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3486	−0.103%	$18.9M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3487	−0.092%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3485	−0.138%	$9.9M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3486	−0.126%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3486	−0.118%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3488	−0.051%	$595K	$473K	20x	as long as short
ApeX Omni TRXUSDTlong	+0.0100%	1h	0.3490	long leg	$116K	$579K	50x
SunX TRX-USDT	+0.0100%	8h	0.3485	−0.153%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3487	−0.097%	$410	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3487	−0.092%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3485	−0.134%	$195K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3485	−0.143%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	−0.083%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0492%	1h	0.3487	−0.094%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0415%	1h	0.3487	−0.072%	$2.4M	$1.8M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.1169%	1h	0.3492	+0.060%	$908K	$679K	25x	as long as short