Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.017%
Price spread now: Phemex against Injective+0.416%65s7-day average +0.219% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.103%−$10 on $10k
+Price spread, last 3 days (all we have)−0.403%−$40 · spread now +0.416%, 7d avg +0.219%
=Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Phemex is 0.197% dearer against Injective than usual: you sell high and buy low: +$20 more if the spread goes back to its 7-day average of +0.219%. Mind the row above: over the last 7 days funding on this pair cost −0.103%, so the current rate has only just turned in your favour. The two prices were read 65 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 | Injective TRX/USDC PERP | 0.3441 | 0.0033 | pay 0.0004% / 1h | 29m 30s | $1K | $163K | 12x |
| Short | Phemex TRXUSDT | 0.3455 | 0.0100 | get 0.0100% / 8h | 7h 29m | $3.9M | $1.6M | 50x |
Injective TRX/USDC PERP
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $14
- Price spread: +0.416% → +0.219%
- $19.68
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- $21.66
- Costs to cover
- 0.120%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Phemex: live order book, 4 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 Phemex live order book, 4 min ago | 0.14 bp | 6.4 bp −$6 | 12.8 bp −$128 | 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 | 0.3455 | +0.405% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0090% | 8h | 0.3455 | +0.398% | $8.7M | $3.5M | 75x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3454 | +0.378% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3456 | +0.447% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3456 | +0.440% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERPlong | +0.0033% | 1h | 0.3441 | long leg | $1K | $163K | 12x | |
| Variational Omni TRX | +0.0034% | 8h | 0.3454 | +0.377% | $565K | $36K | — | as long as short |
| Backpack TRX_USDC_PERP | +0.0054% | 1h | 0.3454 | +0.389% | $58K | $4K | 10x | as long as short |
| Extended TRX-USD | +0.0064% | 1h | 0.3455 | +0.399% | $194K | $1.4M | 25x | as long as short |
| MEXC TRX_USDT | +0.0065% | 8h | 0.3456 | +0.421% | $18.4M | $1.9M | 200x | as long as short |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Variational Omni TRX
Backpack TRX_USDC_PERP
Extended TRX-USD
MEXC TRX_USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TRXUSDT | +0.0067% | 8h | 0.3455 | +0.421% | $100.5M | $47.8M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0072% | 8h | 0.3457 | +0.450% | $15.5M | $8.4M | 50x | as long as short |
| HTX TRX-USDT | +0.0080% | 8h | 0.3452 | +0.332% | $829K | $752K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0088% | 8h | 0.3455 | +0.408% | $9K | $385 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0092% | 8h | 0.3455 | +0.404% | $15K | $107K | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3455 | +0.401% | $483K | $630K | 10x | as long as short |
| Aevo TRX-PERP | +0.0096% | 1h | 0.3453 | +0.359% | $33K | — | 3x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3457 | +0.469% | $13.2M | $2.2M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3456 | +0.434% | $959K | $660K | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3455 | +0.413% | $54.9M | $7.9M | 75x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3456 | +0.436% | $9.7M | $2.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3455 | +0.418% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3455 | +0.416% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3453 | +0.356% | $590K | $439K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3451 | +0.302% | $115K | $570K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3453 | +0.362% | $196K | $939K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3456 | +0.421% | $403 | $5K | 5x | as long as short |
| Phemex TRXUSDTshort | +0.0100% | 8h | 0.3455 | +0.416% | $3.9M | $1.6M | 50x | |
| Kraken Futures PF_TRXUSD | +0.0172% | 1h | 0.3457 | +0.465% | $2.3M | $1.5M | 25x | as long as short |
| BloFin TRX-USDT | +0.0186% | 8h | 0.3454 | +0.372% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0367% / S −0.0395% | 1h | 0.3455 | +0.406% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0473% | 1h | 0.3459 | +0.517% | $835K | $407K | 25x | as long as short |
Binance TRXUSDT
OKX TRX-USDT-SWAP
HTX TRX-USDT
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
Lighter TRX
Aevo TRX-PERP
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
Gate TRX_USDT
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL