Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.048%
Price spread now: Phoenix against Orderly+0.054%66s7-day average — · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
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 0.054% dearer against Orderly than usual: you sell high and buy low (spread +0.054% now, against zero (this spread has no 7-day history yet)): +$5 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 44 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 | Orderly PERP_TRX_USDC | 0.3489 | 0.0100 | pay 0.0100% / 8h | 1h 04m | $14K | $60K | 20x |
| Short | Phoenix TRX | 0.3491 | 0 | get 0.0000% / 1h | 4m 20s | $5K | $14K | 10x |
Orderly PERP_TRX_USDC
Phoenix TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phoenix 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
- −$20.99
- Price spread: +0.054% → 0.000%
- $5.45
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$28.54
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Orderly: no order-book sample; 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 Orderly no order-book sample | — | — | — | — | — |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Orderly and 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3488 | −0.028% | $5 | — | 20x | as long as short |
| HTX TRX-USDT | −0.0067% | 8h | 0.3488 | −0.037% | $834K | $943K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3490 | +0.037% | $183K | $12K | 10x | as long as short |
| Phoenix TRXshort | 0.0000% | 1h | 0.3491 | +0.054% | $5K | $14K | 10x | |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3489 | −0.003% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.379% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDT | +0.0070% | 8h | 0.3489 | 0.000% | — | $32.8M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3489 | −0.006% | $488K | $671K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3488 | −0.025% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDClong | +0.0100% | 8h | 0.3489 | long leg | $14K | $60K | 20x |
Reya TRXRUSDPERP
HTX TRX-USDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDT
Lighter TRX
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3492 | +0.092% | $13.3M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3487 | −0.049% | $968K | $706K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3489 | +0.009% | $107.5M | $62.4M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3489 | −0.003% | $53.6M | $12.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3489 | −0.006% | $15.6M | $10.4M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3489 | +0.011% | $9.7M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3489 | +0.009% | $19.6M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3490 | +0.020% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3489 | −0.009% | $9.8M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3488 | −0.020% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3488 | −0.035% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3489 | −0.006% | $595K | $460K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3489 | −0.009% | $116K | $587K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3488 | −0.032% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3489 | +0.003% | $410 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3490 | +0.014% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3488 | −0.041% | $205K | $593K | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3487 | −0.052% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3489 | +0.009% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0252% | 1h | 0.3489 | +0.003% | $2.4M | $1.8M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3489 | +0.004% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.1091% | 1h | 0.3494 | +0.146% | $908K | $687K | 25x | as long as short |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL