Funding you earn now, next payment 04:00 UTC+0.0220%/8h= +24.1% APRnext payment +$0.28 per $10,000 · paid last 24h +0.071%
Price spread now: Kraken Futures against Backpack+0.070%7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.157%+$16 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.070% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Backpack TRX_USDC_PERP | 0.3473 | 0.0041 | pay 0.0005% / 1h | 21m 46s | $62K | $5K | 10x |
| Short | Kraken Futures PF_TRXUSD | 0.3476 | 0.0261 | get 0.0033% / 1h | 21m 46s | $2.4M | $1.7M | 25x |
Backpack TRX_USDC_PERP
Kraken Futures PF_TRXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Backpack. 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
- $46.27
- Price spread: +0.070% → 0.000%
- $6.95
- Slippage, 4 orders
- no order book: not counted
- Fee Backpack: 5 bp × 2 orders
- −$10
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $33.23
- Costs to cover
- 0.200%
- Break-even
- 2.0 days
Slippage unknown: Backpack: no order-book sample; Kraken Futures: live order book, 2 min ago. 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 Backpack no order-book sample | — | — | — | — | — |
| Sell Kraken Futures live order book, 2 min ago | 0.14 bp | 9.4 bp −$9 | 14.3 bp −$143 | doesn't fit | doesn't fit |
Backpack: 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3474 | +0.036% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3477 | +0.098% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3474 | +0.034% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3476 | +0.068% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.927% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERPlong | +0.0041% | 1h | 0.3473 | long leg | $62K | $5K | 10x | |
| BingX TRX-USDT | +0.0070% | 8h | 0.3474 | +0.017% | — | $32.8M | — | as long as short |
| Paradex TRX-USD-PERP | +0.0092% | 8h | 0.3472 | −0.032% | $9K | $251 | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3472 | −0.029% | $484K | $669K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3475 | +0.046% | $15K | $100K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDT
Paradex TRX-USD-PERP
Lighter TRX
Orderly PERP_TRX_USDCShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3476 | +0.077% | $13.1M | $2.6M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3473 | +0.003% | $962K | $696K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3472 | −0.026% | $105.2M | $58.9M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3472 | −0.023% | $53.6M | $11.7M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3473 | −0.020% | $15.5M | $9.8M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3474 | +0.012% | $9.6M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3473 | 0.000% | $18.8M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3473 | −0.009% | $8.6M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3474 | +0.012% | $10.3M | $3.3M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3475 | +0.048% | $569K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3475 | +0.053% | $593K | $472K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3476 | +0.081% | $116K | $564K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3473 | −0.007% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3474 | +0.037% | $403 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3474 | +0.021% | $834K | $847K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3475 | +0.058% | $3.9M | $1.9M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3472 | −0.024% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3473 | −0.009% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3474 | +0.029% | $4.7M | $3.9M | 50x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0261% | 1h | 0.3476 | +0.070% | $2.4M | $1.7M | 25x | |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3476 | +0.066% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0498% | 1h | 0.3478 | +0.149% | $843K | $504K | 25x | as long as short |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL