Funding you earn now, next payment 03:00 UTC+0.0652%/8h= +71.4% APRnext payment +$0.81 per $10,000 · paid last 24h +0.075%
Price spread now: Deribit against Injective+1.095%63s7-day average +0.295% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.026%−$3 on $10k
+Price spread, last 4 days (all we have)−1.073%−$107 · spread now +1.095%, 7d avg +0.295%
=Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Deribit is 0.800% dearer against Injective than usual: you sell high and buy low: +$80 more if the spread goes back to its 7-day average of +0.295%. The two prices were read 63 seconds apart, so part of this spread may be the market moving, not a spread.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.026% in total (about -1.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.81 per $10,000. 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 | Injective TRX/USDC PERP | 0.3441 | 0.0033 | pay 0.0004% / 1h | 12m 11s | $1K | $163K | 12x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3479 | 0.0685 | get 0.0086% / 1h | 12m 11s | $845K | $502K | 25x |
Injective TRX/USDC PERP
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Injective. 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
- $136.88
- Price spread: +1.095% → +0.295%
- $80
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $209.86
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Deribit: live order book, 52 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 Injective no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 52 min ago | 2.15 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
Injective: 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 | 0.3474 | +0.967% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3478 | +1.064% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3477 | +1.032% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3475 | +0.991% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERPlong | +0.0033% | 1h | 0.3441 | long leg | $1K | $163K | 12x | |
| BingX TRX-USDC | +0.0070% | 8h | 0.3475 | +0.994% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3475 | +0.988% | $485K | $664K | 10x | as long as short |
| Backpack TRX_USDC_PERP | +0.0097% | 1h | 0.3474 | +0.959% | $59K | $4K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0098% | 8h | 0.3475 | +0.976% | $14K | $122K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3474 | +0.968% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
BingX TRX-USDC
Lighter TRX
Backpack TRX_USDC_PERP
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 | 0.3477 | +1.058% | $13.1M | $2.6M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3474 | +0.965% | $961K | $691K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3475 | +0.986% | $105.1M | $57.9M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3475 | +0.988% | $53.8M | $11.4M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3476 | +1.003% | $15.5M | $9.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3475 | +0.979% | $9.7M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3475 | +1.000% | $18.7M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3475 | +0.988% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3475 | +0.997% | $10.3M | $3.3M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3476 | +1.012% | $568K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3475 | +0.988% | $593K | $472K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3475 | +0.994% | $116K | $561K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3473 | +0.935% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3475 | +0.982% | $407 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3474 | +0.958% | $839K | $829K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3476 | +1.014% | $3.9M | $1.8M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3474 | +0.960% | $198K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3473 | +0.935% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3475 | +0.988% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3475 | +0.995% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0586% | 1h | 0.3476 | +1.006% | $2.4M | $1.7M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0685% | 1h | 0.3479 | +1.095% | $845K | $502K | 25x |
Hyperliquid TRX
Aster TRXUSDT
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
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD