Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0311%/8h= −34.0% APRpaid last 24h −0.101%

Price spread now: Binance against GMX−0.010%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 3 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRX/USD [ETH-USDC]	0.3480	L +0.0411% / S −0.0492%	pay 0.0051% / 1h	19m 57s	$20K	—	100x
Short	Binance TRXUSDT	0.3480	0.0100	get 0.0100% / 8h	19m 57s	$106.6M	$64.9M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against GMX. 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 GMXbpFee BinancebpOrdersPrice spread, now −0.010%Rate

Funding earned: −$65.21
Price spread: −0.010% → 0.000%: −$1.05
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Binance: 5 bp × 2 orders: −$10
Net: −$88.26
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Binance: live order book, 8 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Binance live order book, 8 min ago	0.14 bp	5.1 bp −$5	10.5 bp −$105	15.3 bp −$1,531	doesn't fit

GMX: 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	0.3479	−0.041%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0083%	8h	0.3478	−0.072%	$834K	$958K	75x	as long as short
Phoenix TRX	−0.0023%	1h	0.3483	+0.066%	$5K	$13K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3479	−0.033%	$182K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3481	+0.017%	$126K	—	150x	as long as short
Backpack TRX_USDC_PERP	+0.0011%	1h	0.3480	−0.026%	$62K	$5K	10x	as long as short
SoDEX TRX-USD	+0.0018%	1h	0.3480	−0.023%	$407	$5K	5x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.135%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3480	−0.023%	—	$6.5M	—	as long as short
Paradex TRX-USD-PERP	+0.0085%	8h	0.3479	−0.052%	$9K	$251	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRX	+0.0096%	1h	0.3480	−0.017%	$487K	$674K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3480	−0.026%	$14K	$63K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3484	+0.092%	$13.4M	$2.8M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3479	−0.037%	$972K	$714K	75x	as long as short
Binance TRXUSDTshort	+0.0100%	8h	0.3480	−0.010%	$106.6M	$64.9M	75x
Bybit TRXUSDT	+0.0100%	8h	0.3480	−0.014%	$53.4M	$12.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3480	−0.020%	$15.6M	$10.9M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3480	−0.014%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3480	−0.017%	$19.1M	$2.4M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3481	+0.012%	$8.5M	$3.3M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3479	−0.040%	$9.8M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3477	−0.103%	$569K	$30K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3480	−0.013%	$593K	$494K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3481	0.000%	$116K	$604K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3478	−0.066%	$198K	$1.3M	30x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3480	−0.011%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3479	−0.051%	$206K	$1.2M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3478	−0.073%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3482	+0.041%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0296%	1h	0.3480	−0.012%	$2.3M	$1.9M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0370%	1h	0.3483	+0.084%	$862K	$757K	25x	as long as short
GMX TRX/USD [ETH-USDC]long	L +0.0411% / S −0.0492%	1h	0.3480	long leg	$20K	—	100x