Funding you earn now, next payment 00:00 UTC+0.0671%/8h= +73.5% APRnext payment +$0.84 per $10,000 · paid last 24h +0.092%
Price spread now: Deribit against Phoenix+0.082%7-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
Both sides work for this trade now. Funding pays +$20 a day on $10k at the current rate, and Deribit is 0.082% dearer against Phoenix than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet).
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TRX | 0.3452 | −0.0046 | get 0.0006% / 1h | 34m 37s | $5K | $14K | 10x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3455 | 0.0625 | get 0.0078% / 1h | 34m 37s | $834K | $414K | 25x |
Phoenix TRX
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Phoenix. 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
- $140.97
- Price spread: +0.082% → 0.000%
- $8.23
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $135.19
- Costs to cover
- 0.140%
- Break-even
- 0.3 days
Slippage unknown: Phoenix: no order-book sample; Deribit: live order book, 39 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 39 min ago | 1.89 bp | 5.9 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
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 | 0.3451 | −0.041% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0090% | 8h | 0.3450 | −0.052% | $8.7M | $3.5M | 75x | as long as short |
| Phoenix TRXlong | −0.0046% | 1h | 0.3452 | long leg | $5K | $14K | 10x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3450 | −0.053% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3452 | −0.003% | $122K | — | 150x | as long as short |
| Variational Omni TRX | +0.0023% | 8h | 0.3451 | −0.036% | $564K | $36K | — | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.324% | $1K | $163K | 12x | as long as short |
| MEXC TRX_USDT | +0.0062% | 8h | 0.3452 | −0.017% | $18.3M | $1.9M | 200x | as long as short |
| OKX TRX-USDT-SWAP | +0.0063% | 8h | 0.3452 | +0.003% | $15.6M | $8.1M | 50x | as long as short |
| Extended TRX-USD | +0.0064% | 1h | 0.3451 | −0.046% | $194K | $1.4M | 25x | as long as short |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Variational Omni TRX
Injective TRX/USDC PERP
MEXC TRX_USDT
OKX TRX-USDT-SWAP
Extended TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Binance TRXUSDT | +0.0064% | 8h | 0.3452 | −0.017% | $100.1M | $46.9M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0066% | 1h | 0.3450 | −0.052% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | +0.0083% | 8h | 0.3450 | −0.072% | $829K | $737K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0087% | 8h | 0.3451 | −0.030% | $9K | $385 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3451 | −0.043% | $14K | $107K | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3451 | −0.041% | $483K | $630K | 10x | as long as short |
| Aevo TRX-PERP | +0.0096% | 1h | 0.3449 | −0.088% | $33K | — | 3x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3453 | +0.020% | $13.2M | $2.2M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3451 | −0.045% | $957K | $658K | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3452 | −0.006% | $54.8M | $7.9M | 75x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3452 | −0.009% | $9.7M | $2.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3451 | −0.038% | $9.4M | $2.1M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3452 | −0.017% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3450 | −0.062% | $589K | $434K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3450 | −0.055% | $115K | $571K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3450 | −0.077% | $196K | $930K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3451 | −0.029% | $404 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3451 | −0.029% | $3.8M | $1.6M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0172% | 1h | 0.3454 | +0.052% | $2.3M | $1.5M | 25x | as long as short |
| BloFin TRX-USDT | +0.0183% | 8h | 0.3451 | −0.032% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0367% / S −0.0395% | 1h | 0.3451 | −0.031% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0625% | 1h | 0.3455 | +0.082% | $834K | $414K | 25x |
Binance TRXUSDT
Backpack TRX_USDC_PERP
HTX TRX-USDT
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
Lighter TRX
Aevo TRX-PERP
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
Gate TRX_USDT
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]