TRX

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0119%/8h= −13.0% APRnext payment −$0.15 per $10,000 · paid last 24h −0.042%

Price spread now: Phoenix against Lighter+0.115%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

The price spread pays, funding is against you. Phoenix is 0.115% dearer against Lighter than usual: you sell high and buy low (spread +0.115% now, against zero (this spread has no 7-day history yet)): +$12 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 3.2 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRX	0.3478	0.0096	pay 0.0012% / 1h	54m 41s	$482K	$656K	10x
Short	Phoenix TRX	0.3482	−0.0023	pay 0.0003% / 1h	54m 41s	$5K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against Lighter. 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 LighterbpFee PhoenixbpOrdersPrice spread, now +0.115%Rate

Funding earned: −$24.98
Price spread: +0.115% → 0.000%: $11.5
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$20.48
Costs to cover: 0.070%
Break-even: from the start

Slippage unknown: Lighter: live order book, 53 min ago; Phoenix: 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, 53 min ago	1.00 bp	1.6 bp −$2	9.5 bp −$95	44.8 bp −$4,478	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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 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	−0.0322%	8h	0.3475	−0.092%	$962K	$929K	75x	as long as short
HTX TRX-USDT	−0.0217%	8h	0.3478	+0.005%	$832K	$884K	75x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3477	−0.026%	$5	—	20x	as long as short
Backpack TRX_USDC_PERP	−0.0069%	1h	0.3478	−0.006%	$57K	$8K	10x	as long as short
Phoenix TRXshort	−0.0023%	1h	0.3482	+0.115%	$5K	$14K	10x
dYdX TRX-USD	0.0000%	1h	0.3479	+0.037%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3481	+0.084%	$137K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.061%	$1K	$163K	12x	as long as short
SoDEX TRX-USD	+0.0047%	1h	0.3478	−0.006%	$405	$5K	5x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3478	+0.006%	—	$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	+0.0096%	8h	0.3477	−0.019%	$9K	$52	20x	as long as short
Lighter TRXlong	+0.0096%	1h	0.3478	long leg	$482K	$656K	10x
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3478	+0.003%	$14K	$71K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3482	+0.121%	$14.3M	$2.7M	10x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3478	−0.006%	$106.8M	$63.8M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3478	+0.003%	$53.4M	$13.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3478	0.000%	$15.4M	$11.4M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3478	0.000%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3478	0.000%	$19.1M	$2.3M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3478	+0.006%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3477	−0.029%	$9.7M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3478	−0.008%	$576K	$28K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3480	+0.053%	$593K	$502K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3483	+0.141%	$117K	$619K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3477	−0.037%	$198K	$1.3M	30x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3479	+0.032%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3476	−0.042%	$211K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3476	−0.042%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3480	+0.055%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0269%	1h	0.3478	+0.013%	$2.4M	$1.8M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0408% / S −0.0492%	1h	0.3479	+0.039%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0420%	1h	0.3482	+0.114%	$805K	$723K	25x	as long as short