Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.016%

Price spread now: dYdX against KuCoin+0.058%122s7-day average +0.020% · you sell dearer than you buy

Net, funding: paid 7d − costs−$85as in the Funding arb table

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

costs, in and out, $10k−$1281.283% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.429%+$43 on $10k

Price spread, last 4 days (all we have)−0.085%−$8 · spread now +0.058%, 7d avg +0.020%

Together, before fees+0.344%+$34 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.038% dearer against KuCoin than usual: you sell high and buy low (spread +0.058% now, against its 7-day average of +0.020%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours. Mind the row above: over the last 7 days funding on this pair paid +0.429%, so the current rate has only just turned against you. The two prices were read 122 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	KuCoin TRXUSDTM	0.3474	0.0100	pay 0.0100% / 8h	5h 46m	$8.5M	$3.4M	75x
Short	dYdX TRX-USD	0.3476	0	get 0.0000% / 1h	46m 36s	$182K	$10K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against KuCoin. 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 KuCoinbpFee dYdXbpOrdersPrice spread, now +0.058%Rate

Funding earned: −$21
Price spread: +0.058% → +0.020%: $3.81
Slippage, 4 orders: −$106.27
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$145.46
Costs to cover: 1.283%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; dYdX: live order book, just now.

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 KuCoin live order book, 5 min ago	0.58 bp	10.7 bp −$11	120.3 bp −$1,203	doesn't fit	doesn't fit
Sell dYdX live order book, just now	42.38 bp	53.8 bp −$54	103.5 bp −$1,035	132.2 bp −$13.2K	doesn't fit

TRX on 32 exchanges

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
Aster TRXUSDT	−0.0348%	8h	0.3472	−0.063%	$961K	$936K	75x	as long as short
HTX TRX-USDT	−0.0214%	8h	0.3474	−0.015%	$831K	$885K	75x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3472	−0.054%	$5	—	20x	as long as short
Backpack TRX_USDC_PERP	−0.0065%	1h	0.3474	−0.009%	$57K	$8K	10x	as long as short
Phoenix TRX	−0.0046%	1h	0.3476	+0.046%	$5K	$14K	10x	as long as short
SoDEX TRX-USD	−0.0013%	1h	0.3474	+0.003%	$402	$5K	5x	as long as short
dYdX TRX-USDshort	0.0000%	1h	0.3476	+0.058%	$182K	$10K	10x
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3475	+0.022%	$137K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.953%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3474	−0.014%	—	$6.5M	—	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRX-USD-PERP	+0.0084%	8h	0.3474	−0.011%	$9K	$52	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3474	+0.003%	$481K	$656K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3474	−0.009%	$14K	$71K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3478	+0.112%	$14.3M	$2.7M	10x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3474	+0.007%	$106.6M	$64.2M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3473	−0.040%	$53.3M	$13.6M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3473	−0.017%	$15.4M	$11.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3474	−0.006%	$9.5M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3474	+0.006%	$18.9M	$2.4M	200x	as long as short
KuCoin TRXUSDTMlong	+0.0100%	8h	0.3474	long leg	$8.5M	$3.4M	75x
Bitget TRXUSDT	+0.0100%	8h	0.3473	−0.023%	$9.7M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3473	−0.043%	$576K	$28K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3474	−0.004%	$593K	$508K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3476	+0.043%	$117K	$617K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3473	−0.041%	$197K	$1.3M	30x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3475	+0.020%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3472	−0.062%	$211K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3472	−0.060%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3475	+0.026%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0269%	1h	0.3474	−0.004%	$2.4M	$1.8M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0357%	1h	0.3478	+0.099%	$804K	$724K	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0408% / S −0.0492%	1h	0.3475	+0.035%	$20K	—	100x	as long as short