Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment −$0.00 per $10,000 · paid last 24h +0.027%

Price spread now: Orderly against Bybit+0.075%50s7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days+0.261%+$26 on $10k

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

Together, before fees—needs both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.075% dearer against Bybit than usual: you sell high and buy low, +$7 on $10k if it 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	Bybit TRXUSDT	0.3486	0.0100	pay 0.0100% / 8h	1h 02m	$53.6M	$12.5M	75x
Short	Orderly PERP_TRX_USDC	0.3488	0.0100	get 0.0100% / 8h	1h 02m	$14K	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly against Bybit. 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 BybitbpFee OrderlybpOrdersPrice spread, now +0.075%Rate

Funding earned: −$0.01
Price spread: +0.075% → 0.000%: $7.46
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$9.55
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Orderly: 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, 1 min ago	1.43 bp	6.9 bp −$7	10.2 bp −$102	42.6 bp −$4,261	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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	0.3484	−0.040%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0067%	8h	0.3488	+0.065%	$834K	$943K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	+0.025%	$183K	$12K	10x	as long as short
Phoenix TRX	0.0000%	1h	0.3491	+0.158%	$5K	$14K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3486	+0.020%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.277%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3485	−0.006%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3485	−0.003%	$487K	$671K	10x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3486	+0.015%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDCshort	+0.0100%	8h	0.3488	+0.075%	$14K	$60K	20x

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	+0.092%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3485	−0.020%	$967K	$706K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3485	−0.008%	$107.3M	$62.5M	75x	as long as short
Bybit TRXUSDTlong	+0.0100%	8h	0.3486	long leg	$53.6M	$12.5M	75x
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3485	−0.006%	$15.6M	$10.6M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3486	+0.017%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3485	−0.014%	$19.6M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3486	+0.023%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3484	−0.029%	$9.8M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3486	0.000%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3488	+0.069%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3489	+0.091%	$595K	$460K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3488	+0.086%	$116K	$588K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3488	+0.071%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3488	+0.057%	$414	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3488	+0.075%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3484	−0.046%	$205K	$604K	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3486	+0.024%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	+0.043%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0252%	1h	0.3488	+0.058%	$2.4M	$1.8M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0411% / S −0.0492%	1h	0.3486	+0.021%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0988%	1h	0.3493	+0.201%	$909K	$688K	25x	as long as short