Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h +0.029%

Price spread now: Bitget against gTrade (Gains Network)+0.025%45s7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2862.863% of the position

Long on gTrade (Gains Network)Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.067%+$7 on $10k

Price spread, last 3 days (all we have)−0.063%−$6 · spread now +0.025%, 7d avg −0.040%

Together, before fees+0.004%$0 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.064% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of −0.040%. The two prices were read 45 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	gTrade (Gains Network) TRX/USD	0.3467	L +0.0003% / S −0.0007%	pay 0.0000% / 1h	46m 42s	$122K	—	150x
Short	Bitget TRXUSDT	0.3467	0.0100	get 0.0100% / 8h	6h 46m	$10.4M	$3.1M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BitgetbpOrdersPrice spread, now +0.025%Rate

Funding earned: $20.34
Price spread: +0.025% → −0.040%: $6.4
Slippage, 4 orders: −$264.33
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$259.58
Costs to cover: 2.863%
Break-even: 96.3 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 22 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 gTrade (Gains Network) virtual book (oracle venue), 22 min ago	130.01 bp	135.0 bp −$135	224.8 bp −$2,248	2109.1 bp −$210.9K	10777.2 bp −$5.39M
Sell Bitget live order book, 2 min ago	1.01 bp	8.2 bp −$8	12.6 bp −$126	doesn't fit	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	0.3466	−0.012%	$5	—	20x	as long as short
Phoenix TRX	−0.0046%	1h	0.3466	−0.013%	$5K	$14K	10x	as long as short
KuCoin TRXUSDTM	−0.0039%	8h	0.3468	+0.027%	$8.7M	$3.5M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3466	−0.003%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USDlong	L +0.0003% / S −0.0007%	1h	0.3467	long leg	$122K	—	150x
Backpack TRX_USDC_PERP	+0.0004%	1h	0.3465	−0.050%	$59K	$4K	10x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.737%	$1K	$163K	12x	as long as short
Orderly PERP_TRX_USDC	+0.0093%	8h	0.3464	−0.076%	$15K	$107K	20x	as long as short
Paradex TRX-USD-PERP	+0.0096%	8h	0.3467	+0.004%	$9K	$251	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3467	−0.001%	$485K	$618K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3469	+0.068%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3467	+0.001%	$957K	$668K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3467	+0.021%	$101.9M	$49.8M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3467	+0.010%	$55.1M	$8.8M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3467	+0.016%	$15.5M	$8.6M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3466	−0.004%	$9.7M	$2.6M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3467	+0.010%	$18.6M	$1.9M	200x	as long as short
Bitget TRXUSDTshort	+0.0100%	8h	0.3467	+0.025%	$10.4M	$3.1M	75x
BingX TRX-USDT	+0.0100%	8h	0.3467	+0.025%	—	$32.9M	—	as long as short
Variational Omni TRX	+0.0100%	8h	0.3465	−0.046%	$565K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3465	−0.057%	$591K	$446K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3465	−0.053%	$115K	$566K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3462	−0.118%	$197K	$1.0M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3465	−0.033%	$405	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3465	−0.046%	$833K	$792K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3466	−0.030%	$3.9M	$1.6M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3466	−0.018%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3464	−0.069%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3465	−0.039%	$4.6M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0402% / S −0.0481%	1h	0.3466	−0.021%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0525%	1h	0.3467	+0.006%	$2.3M	$1.6M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0604%	1h	0.3470	+0.086%	$786K	$424K	25x	as long as short