Funding you earn now, next payment 21:00 UTC+0.0015%/8h= +1.7% APRpaid last 24h −0.011%
Price spread now: Phoenix against Bybit+0.049%56s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 5 days (all we have)—no history yet
+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 $0 a day on $10k at the current rate, and Phoenix is 0.049% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 56 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 | 0.3441 | −0.0085 | get 0.0085% / 8h | 2h 08m | $54.8M | $8.2M | 75x |
| Short | Phoenix TRX | 0.3443 | −0.0070 | pay 0.0009% / 1h | 8m 31s | $5K | $13K | 10x |
Bybit TRXUSDT
Phoenix TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- $3.19
- Price spread: +0.049% → 0.000%
- $4.94
- Slippage, 4 orders
- no order book: not counted
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$9.87
- Costs to cover
- 0.180%
- Break-even
- 28.7 days
Slippage unknown: Bybit: live order book, 10 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 Bybit live order book, 10 min ago | 1.45 bp | 9.4 bp −$9 | 13.0 bp −$130 | 43.1 bp −$4,311 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3441 | −0.004% | $5 | — | 20x | as long as short |
| Variational Omni TRX | −0.0087% | 8h | 0.3440 | −0.017% | $563K | $39K | — | as long as short |
| Bybit TRXUSDTlong | −0.0085% | 8h | 0.3441 | long leg | $54.8M | $8.2M | 75x | |
| Phoenix TRXshort | −0.0070% | 1h | 0.3443 | +0.049% | $5K | $13K | 10x | |
| Backpack TRX_USDC_PERP | −0.0053% | 1h | 0.3441 | −0.006% | $58K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3440 | −0.029% | $1K | $129K | 12x | as long as short |
| Aster TRXUSDT | −0.0033% | 8h | 0.3441 | 0.000% | $951K | $638K | 75x | as long as short |
| HTX TRX-USDT | −0.0022% | 8h | 0.3440 | −0.032% | $826K | $711K | 75x | as long as short |
| Extended TRX-USD | 0.0000% | 1h | 0.3441 | −0.013% | $196K | $1.1M | 25x | as long as short |
| KuCoin TRXUSDTM | +0.0001% | 8h | 0.3440 | −0.020% | $8.7M | $3.6M | 75x | as long as short |
Reya TRXRUSDPERP
Variational Omni TRX
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Aster TRXUSDT
HTX TRX-USDT
Extended TRX-USD
KuCoin TRXUSDTMShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| MEXC TRX_USDT | +0.0003% | 8h | 0.3441 | +0.003% | $17.9M | $1.7M | 200x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3443 | +0.048% | $121K | — | 150x | as long as short |
| Binance TRXUSDT | +0.0004% | 8h | 0.3441 | +0.001% | $99.3M | $49.0M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0008% | 8h | 0.3441 | −0.003% | $15.6M | $8.8M | 50x | as long as short |
| Lighter TRX | +0.0008% | 1h | 0.3441 | −0.009% | $482K | $639K | 10x | as long as short |
| BloFin TRX-USDT | +0.0013% | 8h | 0.3441 | 0.000% | $4.6M | $4.0M | 50x | as long as short |
| SoDEX TRX-USD | +0.0041% | 1h | 0.3441 | 0.000% | $403 | $5K | 5x | as long as short |
| Paradex TRX-USD-PERP | +0.0059% | 8h | 0.3441 | −0.009% | $9K | $385 | 20x | as long as short |
| BingX TRX-USDT | +0.0076% | 8h | 0.3441 | −0.006% | — | $40.0M | — | as long as short |
| Phemex TRXUSDT | +0.0077% | 8h | 0.3441 | 0.000% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3440 | −0.039% | $33K | — | 3x | as long as short |
| Bitget TRXUSDT | +0.0082% | 8h | 0.3441 | −0.006% | $9.4M | $2.1M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0087% | 1h | 0.3443 | +0.050% | $1.9M | $976K | 25x | as long as short |
| Orderly PERP_TRX_USDC | +0.0089% | 8h | 0.3441 | +0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3443 | +0.046% | $13.2M | $2.2M | 10x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3441 | −0.003% | $9.7M | $2.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | +0.015% | $587K | $435K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | +0.006% | $115K | $543K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.071% | $196K | $918K | 30x | as long as short |
| dYdX TRX-USD | +0.0111% | 1h | 0.3443 | +0.048% | $181K | $10K | 10x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0354% | 1h | 0.3445 | +0.126% | $829K | $407K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3442 | +0.032% | $20K | — | 100x | as long as short |
MEXC TRX_USDT
gTrade (Gains Network) TRX/USD
Binance TRXUSDT
OKX TRX-USDT-SWAP
Lighter TRX
BloFin TRX-USDT
SoDEX TRX-USD
Paradex TRX-USD-PERP
BingX TRX-USDT
Phemex TRXUSDT
Aevo TRX-PERP
Bitget TRXUSDT
Kraken Futures PF_TRXUSD
Orderly PERP_TRX_USDC
Hyperliquid TRX
Gate TRX_USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
dYdX TRX-USD
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]