TRX

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0651%/8h= +71.3% APRnext payment +$0.81 per $10,000 · paid last 24h +0.043%

Price spread now: Deribit against Kraken Futures+0.123%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$9as in the Funding arb table

Net, price: spread back to 7d avg − costs−$23as in the Price arb table

costs, in and out, $10k−$310.306% of the position

Long on Kraken Futures Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.220%+$22 on $10k

Price spread, last 4 days (all we have)−0.087%−$9 · spread now +0.123%, 7d avg +0.044%

Together, before fees+0.133%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Deribit is 0.079% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to its 7-day average of +0.044%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.220% in total (about 11.5% 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	Kraken Futures PF_TRXUSD	0.3487	0.0252	pay 0.0031% / 1h	54m 15s	$2.4M	$1.8M	25x
Short	Deribit TRX_USDC-PERPETUAL	0.3492	0.0903	get 0.0113% / 1h	54m 15s	$909K	$680K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against Kraken Futures. 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 Kraken FuturesbpFee DeribitbpOrdersPrice spread, now +0.123%Rate

Funding earned: $136.66
Price spread: +0.123% → +0.044%: $7.89
Slippage, 4 orders: −$13.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $114
Costs to cover: 0.306%
Break-even: 1.2 days

Slippage from Kraken Futures: live order book, 4 min ago; Deribit: live order book, 55 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 Kraken Futures live order book, 4 min ago	1.72 bp	8.0 bp −$8	11.5 bp −$115	doesn't fit	doesn't fit
Sell Deribit live order book, 55 min ago	0.14 bp	7.4 bp −$7	doesn't fit	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	0.3486	−0.035%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3488	+0.031%	$5K	$14K	10x	as long as short
HTX TRX-USDT	−0.0002%	8h	0.3485	−0.056%	$833K	$934K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	−0.024%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3487	−0.003%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.325%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3487	−0.012%	—	$32.8M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3486	−0.023%	$487K	$670K	10x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3486	−0.024%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3487	−0.020%	$14K	$60K	20x	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	0.3490	+0.068%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3486	−0.028%	$966K	$701K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3487	−0.006%	$107.3M	$62.6M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3486	−0.035%	$53.5M	$12.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3487	−0.018%	$15.5M	$10.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3487	−0.006%	$9.7M	$3.1M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3487	−0.006%	$18.9M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3488	+0.011%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3486	−0.032%	$9.8M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3486	−0.026%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3486	−0.038%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3486	−0.040%	$594K	$465K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3488	+0.023%	$116K	$580K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3485	−0.051%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3487	−0.006%	$409	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3487	−0.003%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3486	−0.047%	$195K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3485	−0.062%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	−0.006%	$4.7M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSDlong	+0.0252%	1h	0.3487	long leg	$2.4M	$1.8M	25x
GMX TRX/USD [ETH-USDC]	L +0.0411% / S −0.0492%	1h	0.3487	−0.018%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUALshort	+0.0903%	1h	0.3492	+0.123%	$909K	$680K	25x