Funding you earn now, next payment 00:00 UTC−0.0234%/8h= −25.6% APRnext payment −$0.29 per $10,000 · paid last 24h −0.021%
Price spread now: Injective against Lighter+0.017%96s7-day average −0.209% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.116%+$12 on $10k
+Price spread, last 3 days (all we have)−0.065%−$6 · spread now +0.017%, 7d avg −0.209%
=Together, before fees+0.051%+ Points / potential airdropLighter: Season 3 · farm board+$5 on $10k · with fees, hour by hour
The price spread pays, funding is against you. Injective is 0.227% dearer against Lighter than usual: you sell high and buy low (spread +0.017% now, against its 7-day average of −0.209%): +$23 on $10k if it goes back. Holding the pair costs −$7 a day in funding at the current rate, which eats that in about 3.2 days. Mind the row above: over the last 7 days funding on this pair paid +0.116%, so the current rate has only just turned against you. The two prices were read 96 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 0.116% in total (about 6.0% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.29 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 | Lighter TRX | 0.3440 | 0.0088 | pay 0.0011% / 1h | 23m 26s | $482K | $630K | 10x |
| Short | Injective TRX/USDC PERP | 0.3441 | −0.0146 | pay 0.0018% / 1h | 23m 26s | $1K | $163K | 12x |
Lighter TRX
Injective TRX/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$49.08
- Price spread: +0.017% → −0.209%
- $22.68
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$26.42
- Costs to cover
- 0.000%
- Break-even
- from the start
Slippage unknown: Lighter: live order book, 51 min ago; Injective: no order-book sample. 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 Lighter live order book, 51 min ago | 0.73 bp | 3.1 bp −$3 | 10.5 bp −$105 | 45.2 bp −$4,524 | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERPshort | −0.0146% | 1h | 0.3441 | +0.017% | $1K | $163K | 12x | |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3440 | −0.019% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0093% | 8h | 0.3441 | +0.020% | $8.7M | $3.6M | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0076% | 1h | 0.3440 | −0.003% | $58K | $4K | 10x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3443 | +0.067% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0033% | 8h | 0.3443 | +0.079% | $563K | $36K | — | as long as short |
| HTX TRX-USDT | −0.0021% | 8h | 0.3440 | −0.013% | $826K | $729K | 75x | as long as short |
| Bybit TRXUSDT | −0.0019% | 8h | 0.3440 | −0.003% | $54.6M | $8.1M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3443 | +0.064% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3442 | +0.044% | $121K | — | 150x | as long as short |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
Phoenix TRX
Variational Omni TRX
HTX TRX-USDT
Bybit TRXUSDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0023% | 8h | 0.3441 | +0.006% | $15.6M | $8.8M | 50x | as long as short |
| Extended TRX-USD | +0.0032% | 1h | 0.3440 | −0.021% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0032% | 8h | 0.3441 | +0.009% | $18.2M | $1.9M | 200x | as long as short |
| Binance TRXUSDT | +0.0032% | 8h | 0.3441 | +0.004% | $99.2M | $47.9M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3442 | +0.043% | $1.9M | $1.0M | 25x | as long as short |
| Aster TRXUSDT | +0.0063% | 8h | 0.3443 | +0.067% | $955K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0072% | 8h | 0.3440 | −0.001% | $9K | $385 | 20x | as long as short |
| Gate TRX_USDT | +0.0084% | 8h | 0.3440 | −0.006% | $9.6M | $2.5M | 75x | as long as short |
| Phemex TRXUSDT | +0.0084% | 8h | 0.3441 | +0.006% | $3.8M | $1.6M | 50x | as long as short |
| SoDEX TRX-USD | +0.0086% | 1h | 0.3441 | +0.006% | $401 | $5K | 5x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3439 | −0.042% | $33K | — | 3x | as long as short |
| Lighter TRXlong | +0.0088% | 1h | 0.3440 | long leg | $482K | $630K | 10x | |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3441 | +0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3442 | +0.049% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3440 | 0.000% | $9.5M | $2.2M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3441 | +0.003% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | +0.012% | $587K | $441K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | +0.012% | $115K | $566K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | +0.045% | $196K | $925K | 30x | as long as short |
| BloFin TRX-USDT | +0.0129% | 8h | 0.3441 | +0.023% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3442 | +0.036% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0540% | 1h | 0.3445 | +0.124% | $831K | $416K | 25x | as long as short |
OKX TRX-USDT-SWAP
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
Kraken Futures PF_TRXUSD
Aster TRXUSDT
Paradex TRX-USD-PERP
Gate TRX_USDT
Phemex TRXUSDT
SoDEX TRX-USD
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL