Funding you earn now, next payment 00:00 UTC−0.0103%/8h= −11.3% APRpaid last 24h −0.012%
Price spread now: Backpack against Bybit−0.020%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.135%−$14 on $10k
+Price spread, last 7 days—no price history on both exchanges yet
=Together, before fees—needs both histories
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Backpack is 0.020% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3443 | −0.0038 | get 0.0038% / 8h | 51m 33s | $54.6M | $8.1M | 75x |
| Short | Backpack TRX_USDC_PERP | 0.3442 | −0.0141 | pay 0.0018% / 1h | 51m 33s | $58K | $4K | 10x |
Bybit TRXUSDT
Backpack TRX_USDC_PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Backpack against Bybit. 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
- −$21.61
- Price spread: −0.020% → 0.000%
- −$2.03
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Backpack: 5 bp × 2 orders
- −$10
- Net
- −$44.64
- Costs to cover
- 0.210%
- Break-even
- never at this rate
Slippage unknown: Bybit: live order book, 2 min ago; Backpack: 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 Bybit live order book, 2 min ago | 1.45 bp | 9.1 bp −$9 | 11.9 bp −$119 | 43.6 bp −$4,365 | doesn't fit |
| Sell Backpack no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.058% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERPshort | −0.0141% | 1h | 0.3442 | −0.020% | $58K | $4K | 10x | |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3442 | −0.022% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3442 | −0.020% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.029% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0060% | 8h | 0.3440 | −0.086% | $563K | $38K | — | as long as short |
| Bybit TRXUSDTlong | −0.0038% | 8h | 0.3443 | long leg | $54.6M | $8.1M | 75x | |
| HTX TRX-USDT | −0.0028% | 8h | 0.3442 | −0.041% | $826K | $723K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | −0.015% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | +0.022% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
HTX TRX-USDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0004% | 8h | 0.3443 | −0.006% | $15.6M | $8.7M | 50x | as long as short |
| MEXC TRX_USDT | +0.0022% | 8h | 0.3443 | 0.000% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0023% | 8h | 0.3443 | 0.000% | $99.3M | $47.9M | 75x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3442 | −0.027% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0032% | 8h | 0.3443 | +0.005% | $956K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0053% | 8h | 0.3442 | −0.020% | $9K | $385 | 20x | as long as short |
| Lighter TRX | +0.0056% | 1h | 0.3442 | −0.017% | $482K | $630K | 10x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3444 | +0.028% | $1.9M | $1.0M | 25x | as long as short |
| Phemex TRXUSDT | +0.0077% | 8h | 0.3443 | −0.006% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0087% | 8h | 0.3443 | 0.000% | $9.6M | $2.5M | 75x | as long as short |
| BloFin TRX-USDT | +0.0087% | 8h | 0.3443 | −0.006% | $4.6M | $4.0M | 50x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.060% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3443 | −0.015% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3444 | +0.044% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | −0.003% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3443 | −0.015% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | −0.035% | $587K | $430K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.084% | $115K | $556K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3445 | +0.052% | $196K | $918K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3443 | −0.006% | $404 | $5K | 5x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | +0.004% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0456% | 1h | 0.3446 | +0.097% | $829K | $414K | 25x | as long as short |
OKX TRX-USDT-SWAP
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
Aster TRXUSDT
Paradex TRX-USD-PERP
Lighter TRX
Kraken Futures PF_TRXUSD
Phemex TRXUSDT
Gate TRX_USDT
BloFin TRX-USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL