Funding you earn now, next payment 08:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.30 per $10,000 · paid last 24h −0.012%
Price spread now: BingX against Phemex+0.003%7-day average −0.014% · you sell dearer than you buy
Net, funding: paid 7d − costs−$34as in the Funding arb table
Net, price: spread back to 7d avg − costs−$33as in the Price arb table
costs, in and out, $10k−$350.347% of the position
Funding, last 7 days+0.005%+$1 on $10k
+Price spread, last 4 days (all we have)+0.052%+$5 · spread now +0.003%, 7d avg −0.014%
=The price spread sits at its 7-day average of −0.014%, so right now this pair is about funding alone: −$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TRXUSDT | 0.3483 | 0.0100 | pay 0.0100% / 8h | 3h 25m | $3.9M | $1.9M | 50x |
| Short | BingX TRX-USDT | 0.3484 | 0.0070 | get 0.0070% / 8h | 3h 25m | — | $32.8M | — |
Phemex TRXUSDT
BingX TRX-USDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Phemex. 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
- −$6.3
- Price spread: +0.003% → −0.014%
- $1.73
- Slippage, 4 orders
- −$12.69
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$39.26
- Costs to cover
- 0.347%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 3 min ago; BingX: live order book, 13 min ago.
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 Phemex live order book, 3 min ago | 4.16 bp | 12.9 bp −$13 | 17.6 bp −$176 | doesn't fit | doesn't fit |
| Sell BingX live order book, 13 min ago | 0.29 bp | 5.3 bp −$5 | 6.8 bp −$68 | 11.4 bp −$1,141 | 14.9 bp −$7,446 |
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 | 0.3483 | −0.021% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3484 | +0.023% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | +0.080% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3484 | +0.015% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.220% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDTshort | +0.0070% | 8h | 0.3484 | +0.003% | — | $32.8M | — | |
| HTX TRX-USDT | +0.0074% | 8h | 0.3484 | +0.004% | $825K | $888K | 75x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3483 | −0.009% | $486K | $671K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3483 | −0.009% | $14K | $60K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3484 | +0.018% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
HTX TRX-USDT
Lighter TRX
Orderly PERP_TRX_USDC
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 | 0.3487 | +0.092% | $13.2M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3485 | +0.045% | $966K | $698K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3484 | +0.001% | $106.2M | $61.2M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3483 | −0.006% | $53.8M | $11.9M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3483 | 0.000% | $15.6M | $10.2M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3483 | −0.003% | $9.7M | $3.0M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3483 | 0.000% | $18.9M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3484 | +0.029% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3484 | +0.006% | $10.6M | $3.5M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3483 | −0.026% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3482 | −0.047% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3483 | −0.011% | $594K | $466K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3482 | −0.043% | $116K | $573K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3481 | −0.065% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3483 | 0.000% | $410 | $5K | 5x | as long as short |
| Phemex TRXUSDTlong | +0.0100% | 8h | 0.3483 | long leg | $3.9M | $1.9M | 50x | |
| Extended TRX-USD | +0.0104% | 1h | 0.3482 | −0.033% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3482 | −0.055% | $34K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0144% | 1h | 0.3484 | +0.020% | $2.4M | $1.7M | 25x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3486 | +0.057% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0491% | 1h | 0.3484 | +0.001% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0735% | 1h | 0.3487 | +0.111% | $843K | $538K | 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
Extended TRX-USD
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL