Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.045%

Price spread now: edgeX against Phoenix−0.044%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

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—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Funding pays, the price is against you. edgeX is 0.044% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.044% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$4 on $10k: about 24 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TRX	0.3466	−0.0046	get 0.0006% / 1h	45m 53s	$5K	$14K	10x
Short	edgeX TRXUSDC	0.3465	0.0100	get 0.0050% / 4h	2h 45m	$591K	$446K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

click an exchange to add or hide it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee PhoenixbpFee edgeXbpOrdersPrice spread, now −0.044%Rate

Funding earned: $30.71
Price spread: −0.044% → 0.000%: −$4.38
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $10.32
Costs to cover: 0.160%
Break-even: 4.6 days

Slippage unknown: Phoenix: no order-book sample; edgeX: live order book, 23 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 edgeX live order book, 23 min ago	0.87 bp	5.4 bp −$5	6.9 bp −$69	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	0.3467	+0.017%	$5	—	20x	as long as short
Phoenix TRXlong	−0.0046%	1h	0.3466	long leg	$5K	$14K	10x
KuCoin TRXUSDTM	−0.0039%	8h	0.3467	+0.038%	$8.7M	$3.5M	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3466	+0.010%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3467	+0.033%	$122K	—	150x	as long as short
Backpack TRX_USDC_PERP	+0.0006%	1h	0.3466	−0.009%	$59K	$4K	10x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.724%	$1K	$163K	12x	as long as short
Orderly PERP_TRX_USDC	+0.0093%	8h	0.3465	−0.035%	$15K	$107K	20x	as long as short
Paradex TRX-USD-PERP	+0.0096%	8h	0.3467	+0.017%	$9K	$251	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3466	+0.003%	$485K	$618K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3469	+0.075%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3467	+0.020%	$957K	$669K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3467	+0.019%	$101.9M	$49.9M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3467	+0.035%	$55.1M	$8.8M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3467	+0.032%	$15.5M	$8.6M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3467	+0.017%	$9.7M	$2.6M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3467	+0.020%	$18.6M	$1.9M	200x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3468	+0.055%	$10.4M	$3.1M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3467	+0.038%	—	$6.5M	—	as long as short
Variational Omni TRX	+0.0100%	8h	0.3466	−0.004%	$566K	$37K	—	as long as short
edgeX TRXUSDCshort	+0.0100%	4h	0.3465	−0.044%	$591K	$446K	20x
ApeX Omni TRXUSDT	+0.0100%	1h	0.3465	−0.040%	$115K	$566K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3464	−0.066%	$197K	$1.0M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3467	+0.029%	$409	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3465	−0.042%	$833K	$793K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3467	+0.012%	$3.9M	$1.6M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3466	0.000%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3465	−0.036%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3465	−0.026%	$4.6M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0402% / S −0.0481%	1h	0.3467	+0.017%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0525%	1h	0.3468	+0.059%	$2.3M	$1.6M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0578%	1h	0.3470	+0.119%	$786K	$424K	25x	as long as short