Funding you earn now, next payment 10:00 UTC−0.0494%/8h= −54.1% APRnext payment −$0.62 per $10,000 · paid last 24h −0.116%
Price spread now: Extended against Deribit−0.154%7-day average −0.114% · you buy dearer than you sell
Net, funding: paid 7d − costs−$45as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$210.208% of the position
Funding, last 7 days−0.246%−$25 on $10k
+Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.154%, 7d avg −0.114%
=Together, before fees−0.119%+ Points / potential airdropExtended: Active · farm board−$12 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and Extended is 0.040% cheaper against Deribit than usual: you would sell low and buy high (−$4 if the spread goes back to its 7-day average of −0.114%). Swap the legs.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.246% in total (about -12.9% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.62 per $10,000. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Deribit TRX_USDC-PERPETUAL | 0.3493 | 0.0598 | pay 0.0075% / 1h | 18m 15s | $806K | $740K | 25x |
| Short | Extended TRX-USD | 0.3487 | 0.0104 | get 0.0013% / 1h | 18m 15s | $213K | $1.1M | 25x |
Deribit TRX_USDC-PERPETUAL
Extended TRX-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- −$103.78
- Price spread: −0.154% → −0.114%
- −$3.96
- Slippage, 4 orders
- −$8.78
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$128.53
- Costs to cover
- 0.208%
- Break-even
- never at this rate
Slippage from Deribit: live order book, 33 min ago; Extended: live order book, 3 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, 33 min ago | 1.29 bp | 9.0 bp −$9 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 3 min ago | 0.14 bp | 3.5 bp −$3 | 10.0 bp −$100 | doesn't fit | doesn't fit |
TRX on 32 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | −0.0217% | 8h | 0.3482 | −0.303% | $964K | $928K | 75x | as long as short |
| HTX TRX-USDT | −0.0203% | 8h | 0.3488 | −0.138% | $834K | $947K | 75x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3488 | −0.145% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3492 | −0.008% | $5K | $14K | 10x | as long as short |
| Backpack TRX_USDC_PERP | −0.0013% | 1h | 0.3489 | −0.111% | $63K | $5K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3489 | −0.096% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3491 | −0.044% | $126K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.479% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDT | +0.0070% | 8h | 0.3489 | −0.114% | — | $32.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3489 | −0.102% | $483K | $669K | 10x | as long as short |
Aster TRXUSDT
HTX TRX-USDT
Reya TRXRUSDPERP
Phoenix TRX
Backpack TRX_USDC_PERP
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDT
Lighter TRXShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3488 | −0.123% | $9K | $52 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3489 | −0.114% | $14K | $71K | 20x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3489 | −0.117% | $107.4M | $64.1M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3489 | −0.111% | $53.6M | $13.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3489 | −0.096% | $15.4M | $11.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3489 | −0.111% | $9.6M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3489 | −0.114% | $18.9M | $2.4M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3489 | −0.111% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3488 | −0.122% | $9.7M | $4.4M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3491 | −0.054% | $578K | $30K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3491 | −0.053% | $595K | $514K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3490 | −0.065% | $117K | $617K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3487 | −0.165% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3489 | −0.114% | $405 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3489 | −0.105% | $3.9M | $2.0M | 50x | as long as short |
| Extended TRX-USDshort | +0.0104% | 1h | 0.3487 | −0.154% | $213K | $1.1M | 25x | |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3487 | −0.165% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3490 | −0.079% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0256% | 1h | 0.3490 | −0.077% | $2.4M | $1.7M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0492% | 1h | 0.3491 | −0.055% | $20K | — | 100x | as long as short |
| Hyperliquid TRX | +0.0458% | 1h | 0.3493 | +0.021% | $14.2M | $2.6M | 10x | as long as short |
| Deribit TRX_USDC-PERPETUALlong | +0.0598% | 1h | 0.3493 | long leg | $806K | $740K | 25x |
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
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
Phemex TRXUSDT
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]
Hyperliquid TRX