Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0093%/8h= −10.2% APRpaid last 24h −0.029%

Price spread now: Phoenix against OKX+0.029%66s7-day average — · you sell dearer than you buy

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

Long on OKX 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—needs both histories

The price spread pays, funding is against you. Phoenix is 0.029% dearer against OKX than usual: you sell high and buy low (spread +0.029% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 25 hours. The two prices were read 66 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX TRX-USDT-SWAP	0.3442	0.0024	pay 0.0024% / 8h	22m 24s	$15.6M	$8.8M	50x
Short	Phoenix TRX	0.3443	−0.0070	pay 0.0009% / 1h	22m 24s	$5K	$13K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against OKX. 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 OKXbpFee PhoenixbpOrdersPrice spread, now +0.029%Rate

Funding earned: −$19.61
Price spread: +0.029% → 0.000%: $2.91
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$33.71
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 1 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 OKX live order book, 1 min ago	0.14 bp	5.9 bp −$6	13.1 bp −$131	doesn't fit	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 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 PERP	−0.0146%	1h	0.3441	−0.020%	$1K	$163K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3441	−0.008%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0091%	8h	0.3442	+0.009%	$8.7M	$3.6M	75x	as long as short
Backpack TRX_USDC_PERP	−0.0077%	1h	0.3441	−0.032%	$58K	$4K	10x	as long as short
Phoenix TRXshort	−0.0070%	1h	0.3443	+0.029%	$5K	$13K	10x
Variational Omni TRX	−0.0033%	8h	0.3443	+0.041%	$563K	$36K	—	as long as short
HTX TRX-USDT	−0.0021%	8h	0.3439	−0.066%	$826K	$730K	75x	as long as short
Bybit TRXUSDT	−0.0020%	8h	0.3442	+0.009%	$54.6M	$8.1M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3443	+0.026%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3444	+0.054%	$121K	—	150x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX TRX-USDT-SWAPlong	+0.0024%	8h	0.3442	long leg	$15.6M	$8.8M	50x
Binance TRXUSDT	+0.0032%	8h	0.3443	+0.024%	$99.2M	$47.9M	75x	as long as short
Extended TRX-USD	+0.0032%	1h	0.3441	−0.012%	$196K	$1.1M	25x	as long as short
MEXC TRX_USDT	+0.0032%	8h	0.3442	−0.006%	$18.2M	$1.9M	200x	as long as short
Kraken Futures PF_TRXUSD	+0.0062%	1h	0.3442	+0.012%	$1.9M	$1.0M	25x	as long as short
Aster TRXUSDT	+0.0064%	8h	0.3444	+0.069%	$956K	$659K	75x	as long as short
Paradex TRX-USD-PERP	+0.0071%	8h	0.3442	+0.001%	$9K	$385	20x	as long as short
SoDEX TRX-USD	+0.0080%	1h	0.3441	−0.023%	$405	$5K	5x	as long as short
Phemex TRXUSDT	+0.0083%	8h	0.3441	−0.015%	$3.8M	$1.6M	50x	as long as short
Gate TRX_USDT	+0.0085%	8h	0.3442	+0.009%	$9.6M	$2.5M	75x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3441	−0.034%	$33K	—	3x	as long as short
Lighter TRX	+0.0088%	1h	0.3441	−0.035%	$482K	$630K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0091%	8h	0.3442	+0.006%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3444	+0.058%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3443	+0.026%	$9.5M	$2.2M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3442	+0.006%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.026%	$587K	$441K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3441	−0.026%	$115K	$566K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3441	−0.010%	$196K	$925K	30x	as long as short
BloFin TRX-USDT	+0.0130%	8h	0.3441	−0.029%	$4.6M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3443	+0.038%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0386%	1h	0.3446	+0.124%	$832K	$417K	25x	as long as short