Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.006%
Price spread now: Lighter against Phemex−0.014%7-day average −0.008% · you buy dearer than you sell
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$200.195% of the position
Funding, last 7 days−0.006%−$1 on $10k
+Price spread, last 3 days (all we have)+0.036%+$4 · spread now −0.014%, 7d avg −0.008%
=Together, before fees+0.030%+ Points / potential airdropLighter: Season 3 · farm board+$3 on $10k · with fees, hour by hour
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TRXUSDT | 0.3461 | 0.0100 | pay 0.0100% / 8h | 7h 03m | $3.9M | $1.6M | 50x |
| Short | Lighter TRX | 0.3460 | 0.0096 | get 0.0012% / 1h | 3m 11s | $484K | $632K | 10x |
Phemex TRXUSDT
Lighter TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$0.84
- Price spread: −0.014% → −0.008%
- −$0.61
- Slippage, 4 orders
- −$7.54
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$20.98
- Costs to cover
- 0.195%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; Lighter: live order book, 1 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, 6 min ago | 0.14 bp | 6.6 bp −$7 | 10.9 bp −$109 | doesn't fit | doesn't fit |
| Sell Lighter live order book, 1 min ago | 1.30 bp | 3.1 bp −$3 | 8.7 bp −$87 | 43.2 bp −$4,317 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3460 | −0.022% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0070% | 8h | 0.3462 | +0.026% | $8.7M | $3.5M | 75x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3463 | +0.058% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3462 | +0.042% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3462 | +0.026% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.575% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0035% | 1h | 0.3460 | −0.020% | $59K | $4K | 10x | as long as short |
| Variational Omni TRX | +0.0073% | 8h | 0.3461 | −0.001% | $565K | $37K | — | as long as short |
| Orderly PERP_TRX_USDC | +0.0092% | 8h | 0.3460 | −0.017% | $15K | $107K | 20x | as long as short |
| MEXC TRX_USDT | +0.0093% | 8h | 0.3461 | 0.000% | $18.6M | $1.9M | 200x | as long as short |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
Variational Omni TRX
Orderly PERP_TRX_USDC
MEXC TRX_USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Paradex TRX-USD-PERP | +0.0094% | 8h | 0.3460 | −0.027% | $9K | $251 | 20x | as long as short |
| Binance TRXUSDT | +0.0094% | 8h | 0.3461 | 0.000% | $101.4M | $48.9M | 75x | as long as short |
| Lighter TRXshort | +0.0096% | 1h | 0.3460 | −0.014% | $484K | $632K | 10x | |
| Extended TRX-USD | +0.0096% | 1h | 0.3461 | −0.002% | $196K | $1.0M | 25x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3463 | +0.049% | $13.2M | $2.3M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3461 | −0.003% | $956K | $667K | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3461 | +0.003% | $55.0M | $8.6M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3462 | +0.023% | $15.5M | $8.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3461 | −0.003% | $9.7M | $2.6M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3462 | +0.029% | $10.4M | $3.0M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3462 | +0.017% | — | $32.9M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3461 | +0.009% | $591K | $441K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3463 | +0.049% | $115K | $567K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3458 | −0.094% | $197K | $976K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3461 | +0.003% | $408 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3459 | −0.063% | $831K | $778K | 75x | as long as short |
| Phemex TRXUSDTlong | +0.0100% | 8h | 0.3461 | long leg | $3.9M | $1.6M | 50x | |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3459 | −0.051% | $34K | — | 3x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0172% | 1h | 0.3463 | +0.056% | $2.3M | $1.5M | 25x | as long as short |
| BloFin TRX-USDT | +0.0214% | 8h | 0.3460 | −0.026% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0401% / S −0.0481% | 1h | 0.3461 | −0.002% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0492% | 1h | 0.3464 | +0.103% | $844K | $425K | 25x | as long as short |
Paradex TRX-USD-PERP
Binance TRXUSDT
Extended TRX-USD
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Aevo TRX-PERP
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL