Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.006%

Price spread now: Variational Omni against Lighter−0.001%7-day average −0.051% · you buy dearer than you sell

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

Long on Lighter Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.107%−$11 on $10k

Price spread, last 4 days (all we have)−0.079%−$8 · spread now −0.001%, 7d avg −0.051%

Together, before fees−0.186%+ Points / potential airdropLighter: Season 3 · Variational Omni: Active · farm board−$19 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: Variational Omni is 0.050% dearer against Lighter than usual: you sell high and buy low, +$5 on $10k if it goes back to its 7-day average of −0.051%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter TRX	0.3486	0.0096	pay 0.0012% / 1h	0m 16s	$489K	$672K	10x
Short	Variational Omni TRX	0.3486	0.0100	get 0.0100% / 8h	7h 00m	$577K	$36K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.001%Rate

Funding earned: $0.84
Price spread: −0.001% → −0.051%: $4.95
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $5.79
Costs to cover: 0.000%
Break-even: from the start

Slippage unknown: Lighter: live order book, 29 min ago; Variational Omni: RFQ quote, 34 min ago. 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, 29 min ago	2.30 bp	3.9 bp −$4	10.3 bp −$103	48.5 bp −$4,854	doesn't fit
Sell Variational Omni RFQ quote, 34 min ago	5.74 bp	doesn't fit	8.6 bp −$86	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	−0.0151%	8h	0.3484	−0.046%	$835K	$933K	75x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3485	−0.014%	$5	—	20x	as long as short
Aster TRXUSDT	−0.0088%	8h	0.3483	−0.090%	$969K	$879K	75x	as long as short
Phoenix TRX	−0.0046%	1h	0.3487	+0.029%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	+0.012%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3486	+0.007%	$126K	—	150x	as long as short
Kraken Futures PF_TRXUSD	+0.0020%	1h	0.3487	+0.030%	$2.4M	$1.7M	25x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.288%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0058%	1h	0.3485	−0.017%	$62K	$5K	10x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3486	+0.011%	—	$6.5M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRXlong	+0.0096%	1h	0.3486	long leg	$489K	$672K	10x
Paradex TRX-USD-PERP	+0.0097%	8h	0.3486	−0.011%	$9K	$61	20x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3486	−0.003%	$14K	$72K	20x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3486	+0.001%	$107.2M	$64.5M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3487	+0.032%	$53.5M	$12.8M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3486	+0.011%	$15.6M	$11.0M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3486	−0.011%	$9.6M	$3.4M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3486	−0.003%	$18.9M	$2.5M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3486	+0.006%	$8.5M	$3.3M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3486	−0.011%	$9.7M	$4.4M	75x	as long as short
Variational Omni TRXshort	+0.0100%	8h	0.3486	−0.001%	$577K	$36K	—
edgeX TRXUSDC	+0.0100%	4h	0.3483	−0.097%	$594K	$503K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3483	−0.077%	$117K	$616K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3484	−0.051%	$198K	$1.4M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3486	0.000%	$407	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3486	+0.014%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3485	−0.024%	$204K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3484	−0.049%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3486	−0.006%	$4.8M	$4.0M	50x	as long as short
Hyperliquid TRX	+0.0233%	1h	0.3491	+0.135%	$13.6M	$2.8M	10x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0409% / S −0.0492%	1h	0.3486	+0.014%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0527%	1h	0.3489	+0.098%	$808K	$768K	25x	as long as short