Funding you earn now, next payment 03:00 UTC+0.0686%/8h= +75.2% APRpaid last 24h +0.048%
Price spread now: Deribit against Orderly+0.122%7-day average +0.073% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days−0.052%−$5 on $10k
+Price spread, last 3 days (all we have)−0.084%−$8 · spread now +0.122%, 7d avg +0.073%
=Both sides work for this trade now. Funding pays +$21 a day on $10k at the current rate, and Deribit is 0.049% dearer against Orderly than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.073%. Mind the row above: over the last 7 days funding on this pair cost −0.052%, so the current rate has only just turned in your favour.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.052% in total (about -2.7% a year). A funding rate is set anew for every payment. 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 | Orderly PERP_TRX_USDC | 0.3484 | 0.0097 | pay 0.0097% / 8h | 5h 57m | $14K | $122K | 20x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3488 | 0.0783 | get 0.0098% / 1h | 57m 02s | $828K | $488K | 25x |
Orderly PERP_TRX_USDC
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Orderly. 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
- $144.15
- Price spread: +0.122% → +0.073%
- $4.9
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $136.05
- Costs to cover
- 0.130%
- Break-even
- 0.4 days
Slippage unknown: Orderly: no order-book sample; Deribit: live order book, 7 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 7 min ago | 2.15 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
Orderly: 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 31 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3485 | +0.038% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3486 | +0.052% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3483 | −0.008% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3486 | +0.061% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.226% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | +0.0061% | 8h | 0.3485 | +0.043% | $8.8M | $3.5M | 75x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3485 | +0.032% | $486K | $662K | 10x | as long as short |
| Orderly PERP_TRX_USDClong | +0.0097% | 8h | 0.3484 | long leg | $14K | $122K | 20x | |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3485 | +0.036% | $9K | $251 | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3486 | +0.066% | $13.0M | $2.5M | 10x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Lighter TRX
Paradex TRX-USD-PERP
Hyperliquid TRXShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | +0.0100% | 8h | 0.3485 | +0.034% | $962K | $692K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3485 | +0.026% | $103.9M | $55.4M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3486 | +0.055% | $54.2M | $10.9M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3486 | +0.055% | $15.7M | $9.2M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3484 | +0.014% | $9.7M | $2.8M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3485 | +0.032% | $19.0M | $2.0M | 200x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3486 | +0.052% | $10.4M | $3.3M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3485 | +0.034% | — | $32.8M | — | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3484 | +0.006% | $59K | $4K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3478 | −0.167% | $567K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3477 | −0.191% | $593K | $466K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3477 | −0.181% | $116K | $561K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3480 | −0.112% | $198K | $1.1M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3484 | +0.014% | $408 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3484 | +0.021% | $840K | $818K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3485 | +0.046% | $3.9M | $1.7M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3484 | +0.010% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3483 | −0.032% | $34K | — | 3x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3485 | +0.051% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0584% | 1h | 0.3486 | +0.063% | $2.4M | $1.6M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0783% | 1h | 0.3488 | +0.122% | $828K | $488K | 25x |
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
Bitget TRXUSDT
BingX TRX-USDT
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD