Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%
Price spread now: Phemex against Lighter+0.011%7-day average +0.010% · 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−$21as in the Price arb table
costs, in and out, $10k−$210.209% of the position
Funding, last 7 days+0.019%+$2 on $10k
+Price spread, last 4 days (all we have)−0.138%−$14 · spread now +0.011%, 7d avg +0.010%
=Together, before fees−0.120%+ Points / potential airdropLighter: Season 3 · farm board−$12 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TRX | 0.3482 | 0.0096 | pay 0.0012% / 1h | 42m 39s | $487K | $671K | 10x |
| Short | Phemex TRXUSDT | 0.3482 | 0.0100 | get 0.0100% / 8h | 7h 42m | $3.9M | $2.0M | 50x |
Lighter TRX
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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: +0.011% → +0.010%
- $0.14
- Slippage, 4 orders
- −$8.88
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$19.89
- Costs to cover
- 0.209%
- Break-even
- 172.8 days
Slippage from Lighter: live order book, 52 min ago; Phemex: live order book, 6 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, 52 min ago | 1.00 bp | 2.5 bp −$3 | 9.9 bp −$99 | 44.4 bp −$4,441 | doesn't fit |
| Sell Phemex live order book, 6 min ago | 0.14 bp | 7.1 bp −$7 | 11.0 bp −$110 | 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX TRX-USDT | −0.0243% | 8h | 0.3478 | −0.110% | $834K | $959K | 75x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3481 | −0.024% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3483 | +0.040% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3483 | +0.043% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3482 | +0.008% | $126K | — | 150x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0020% | 1h | 0.3483 | +0.019% | $2.4M | $1.9M | 25x | as long as short |
| Backpack TRX_USDC_PERP | +0.0030% | 1h | 0.3481 | −0.023% | $62K | $5K | 10x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.175% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3482 | 0.000% | — | $6.5M | — | as long as short |
| Paradex TRX-USD-PERP | +0.0093% | 8h | 0.3481 | −0.012% | $9K | $251 | 20x | as long as short |
HTX TRX-USDT
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Kraken Futures PF_TRXUSD
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
BingX TRX-USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TRXlong | +0.0096% | 1h | 0.3482 | long leg | $487K | $671K | 10x | |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3482 | 0.000% | $14K | $63K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3486 | +0.121% | $13.4M | $2.8M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3479 | −0.089% | $968K | $753K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3482 | +0.001% | $107.0M | $65.2M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3482 | +0.003% | $53.5M | $12.8M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3482 | −0.003% | $15.6M | $11.0M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3482 | −0.011% | $9.6M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3482 | +0.003% | $19.0M | $2.3M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3482 | −0.006% | $8.5M | $3.3M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3480 | −0.046% | $9.7M | $4.4M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3481 | −0.028% | $577K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3482 | −0.001% | $594K | $503K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3484 | +0.052% | $116K | $611K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3480 | −0.056% | $198K | $1.4M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3482 | −0.003% | $407 | $5K | 5x | as long as short |
| Phemex TRXUSDTshort | +0.0100% | 8h | 0.3482 | +0.011% | $3.9M | $2.0M | 50x | |
| Extended TRX-USD | +0.0104% | 1h | 0.3481 | −0.033% | $205K | $1.2M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3480 | −0.053% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3482 | +0.006% | $4.8M | $4.1M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0492% | 1h | 0.3482 | +0.013% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0654% | 1h | 0.3486 | +0.116% | $842K | $721K | 25x | as long as short |
Orderly PERP_TRX_USDC
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL