Funding you earn now, next payment 05:00 UTC−0.0542%/8h= −59.3% APRpaid last 24h −0.057%
Price spread now: Bitget against Deribit−0.066%7-day average −0.087% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$280.281% of the position
Funding, last 7 days−0.143%−$14 on $10k
+Price spread, last 4 days (all we have)+0.027%+$3 · spread now −0.066%, 7d avg −0.087%
=The price spread pays, funding is against you. Bitget is 0.020% dearer against Deribit than usual: you sell high and buy low (spread −0.066% now, against its 7-day average of −0.087%): +$2 on $10k if it goes back. Holding the pair costs −$16 a day in funding at the current rate, which eats that in about 3 hours. At the pace of the last 7 days (−0.143% in total) that is about 24 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.143% in total (about -7.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TRX_USDC-PERPETUAL | 0.3490 | 0.0642 | pay 0.0080% / 1h | 1m 01s | $853K | $558K | 25x |
| Short | Bitget TRXUSDT | 0.3488 | 0.0100 | get 0.0100% / 8h | 3h 01m | $10.6M | $3.5M | 75x |
Deribit TRX_USDC-PERPETUAL
Bitget TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bitget against Deribit. 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
- −$113.81
- Price spread: −0.066% → −0.087%
- $2.03
- Slippage, 4 orders
- −$9.06
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Bitget: 6 bp × 2 orders
- −$12
- Net
- −$139.83
- Costs to cover
- 0.281%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 53 min ago; Bitget: live order book, 2 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 Deribit live order book, 53 min ago | 2.15 bp | 5.9 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Bitget live order book, 2 min ago | 0.14 bp | 7.8 bp −$8 | 11.9 bp −$119 | 34.6 bp −$3,457 | 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 | −0.119% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3488 | −0.064% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | −0.102% | $183K | $9K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3487 | −0.097% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.402% | $1K | $163K | 12x | as long as short |
| HTX TRX-USDT | +0.0069% | 8h | 0.3483 | −0.192% | $825K | $870K | 75x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3486 | −0.104% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3487 | −0.098% | $486K | $671K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3487 | −0.098% | $14K | $60K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3486 | −0.108% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
HTX TRX-USDT
BingX TRX-USDC
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3489 | −0.015% | $13.2M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3486 | −0.112% | $965K | $698K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3486 | −0.107% | $106.4M | $61.8M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3486 | −0.112% | $54.0M | $11.9M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3487 | −0.095% | $15.6M | $10.2M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3486 | −0.107% | $9.7M | $3.0M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3486 | −0.109% | $19.0M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3487 | −0.095% | $8.5M | $3.5M | 75x | as long as short |
| Bitget TRXUSDTshort | +0.0100% | 8h | 0.3488 | −0.066% | $10.6M | $3.5M | 75x | |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3485 | −0.130% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3485 | −0.144% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | −0.099% | $595K | $471K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3486 | −0.109% | $116K | $581K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3484 | −0.167% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3486 | −0.107% | $409 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3487 | −0.089% | $4.0M | $1.9M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3485 | −0.129% | $197K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3485 | −0.140% | $34K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0144% | 1h | 0.3487 | −0.096% | $2.4M | $1.7M | 25x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3487 | −0.084% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0491% | 1h | 0.3487 | −0.098% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0642% | 1h | 0.3490 | long leg | $853K | $558K | 25x |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]