Funding you earn now, next payment 01:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.018%
Price spread now: BingX against Lighter+0.046%7-day average −0.006% · you sell dearer than you buy
Net, funding: paid 7d − costs−$19as in the Funding arb table
Net, price: spread back to 7d avg − costs−$15as in the Price arb table
costs, in and out, $10k−$200.200% of the position
Funding, last 7 days+0.012%+$1 on $10k
+Price spread, last 4 days (all we have)−0.058%−$6 · spread now +0.046%, 7d avg −0.006%
=Together, before fees−0.046%+ Points / potential airdropLighter: Season 3 · farm board−$5 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: BingX is 0.053% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TRX | 0.3453 | 0.0096 | pay 0.0012% / 1h | 31m 34s | $483K | $630K | 10x |
| Short | BingX TRX-USDC | 0.3454 | 0.0100 | get 0.0100% / 8h | 7h 31m | — | $6.5M | — |
Lighter TRX
BingX TRX-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Lighter. 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
- $0.84
- Price spread: +0.046% → −0.006%
- $5.25
- Slippage, 4 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$13.91
- Costs to cover
- 0.200%
- Break-even
- 122.9 days
Slippage from Lighter: live order book, 38 min ago; BingX: live order book, 4 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 Lighter live order book, 38 min ago | 0.87 bp | 2.9 bp −$3 | 10.5 bp −$105 | 39.3 bp −$3,929 | doesn't fit |
| Sell BingX live order book, 4 min ago | 0.72 bp | 7.0 bp −$7 | 24.8 bp −$248 | 316.8 bp −$31.7K | 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 | 0.3452 | −0.019% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0090% | 8h | 0.3452 | −0.014% | $8.7M | $3.5M | 75x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3452 | −0.014% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3453 | +0.001% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3454 | +0.040% | $122K | — | 150x | as long as short |
| Variational Omni TRX | +0.0023% | 8h | 0.3451 | −0.050% | $564K | $36K | — | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.339% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0060% | 1h | 0.3452 | −0.023% | $58K | $4K | 10x | as long as short |
| Extended TRX-USD | +0.0064% | 1h | 0.3454 | +0.031% | $196K | $1.4M | 25x | as long as short |
| MEXC TRX_USDT | +0.0065% | 8h | 0.3453 | +0.003% | $18.3M | $1.9M | 200x | as long as short |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Variational Omni TRX
Injective TRX/USDC PERP
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 | +0.0066% | 8h | 0.3454 | +0.049% | $100.2M | $46.9M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0066% | 8h | 0.3456 | +0.084% | $15.5M | $8.4M | 50x | as long as short |
| HTX TRX-USDT | +0.0085% | 8h | 0.3451 | −0.052% | $829K | $737K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0088% | 8h | 0.3453 | +0.021% | $9K | $385 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0092% | 8h | 0.3453 | −0.003% | $15K | $107K | 20x | as long as short |
| Lighter TRXlong | +0.0096% | 1h | 0.3453 | long leg | $483K | $630K | 10x | |
| Aevo TRX-PERP | +0.0096% | 1h | 0.3451 | −0.047% | $33K | — | 3x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3455 | +0.067% | $13.2M | $2.2M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3454 | +0.031% | $958K | $660K | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3455 | +0.067% | $54.9M | $7.9M | 75x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3455 | +0.061% | $9.7M | $2.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3454 | +0.032% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDCshort | +0.0100% | 8h | 0.3454 | +0.046% | — | $6.5M | — | |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3451 | −0.060% | $590K | $435K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3451 | −0.038% | $115K | $570K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3451 | −0.055% | $196K | $930K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3453 | 0.000% | $407 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3453 | +0.006% | $3.8M | $1.6M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0172% | 1h | 0.3455 | +0.062% | $2.3M | $1.5M | 25x | as long as short |
| BloFin TRX-USDT | +0.0184% | 8h | 0.3451 | −0.046% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0367% / S −0.0395% | 1h | 0.3453 | +0.010% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0451% | 1h | 0.3456 | +0.107% | $835K | $407K | 25x | as long as short |
Binance TRXUSDT
OKX TRX-USDT-SWAP
HTX TRX-USDT
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
Aevo TRX-PERP
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
Gate TRX_USDT
Bitget TRXUSDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL