Funding you earn now, next payment 22:00 UTC−0.0051%/8h= −5.6% APRnext payment −$0.06 per $10,000 · paid last 24h +0.029%
Price spread now: Injective against Phoenix−0.041%7-day average — · you buy dearer than you sell
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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.041% cheaper against Phoenix than usual: you would sell low and buy high (−$4 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TRX | 0.3442 | −0.0070 | get 0.0009% / 1h | 20m 58s | $5K | $13K | 10x |
| Short | Injective TRX/USDC PERP | 0.3441 | −0.0120 | pay 0.0015% / 1h | 20m 58s | $1K | $163K | 12x |
Phoenix TRX
Injective TRX/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$10.66
- Price spread: −0.041% → 0.000%
- −$4.07
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$21.74
- Costs to cover
- 0.070%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Injective: 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 Phoenix no order-book sample | — | — | — | — | — |
| Sell Injective no order-book sample | — | — | — | — | — |
Phoenix and Injective: 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 | 0.3441 | −0.046% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERPshort | −0.0120% | 1h | 0.3441 | −0.041% | $1K | $163K | 12x | |
| Variational Omni TRX | −0.0078% | 8h | 0.3440 | −0.068% | $563K | $39K | — | as long as short |
| Phoenix TRXlong | −0.0070% | 1h | 0.3442 | long leg | $5K | $13K | 10x | |
| Bybit TRXUSDT | −0.0056% | 8h | 0.3441 | −0.041% | $54.6M | $8.2M | 75x | as long as short |
| KuCoin TRXUSDTM | −0.0054% | 8h | 0.3441 | −0.055% | $8.7M | $3.6M | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0025% | 1h | 0.3441 | −0.044% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | −0.0018% | 8h | 0.3441 | −0.046% | $826K | $718K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | 0.000% | $181K | $10K | 10x | as long as short |
| OKX TRX-USDT-SWAP | +0.0001% | 8h | 0.3441 | −0.038% | $15.6M | $8.8M | 50x | as long as short |
Reya TRXRUSDPERP
Variational Omni TRX
Bybit TRXUSDT
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
HTX TRX-USDT
dYdX TRX-USD
OKX TRX-USDT-SWAPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3443 | +0.008% | $121K | — | 150x | as long as short |
| Aster TRXUSDT | +0.0008% | 8h | 0.3442 | −0.014% | $957K | $658K | 75x | as long as short |
| MEXC TRX_USDT | +0.0015% | 8h | 0.3442 | −0.026% | $18.2M | $1.7M | 200x | as long as short |
| Lighter TRX | +0.0016% | 1h | 0.3441 | −0.041% | $482K | $637K | 10x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3441 | −0.053% | $196K | $1.1M | 25x | as long as short |
| Binance TRXUSDT | +0.0017% | 8h | 0.3441 | −0.029% | $99.3M | $48.3M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3443 | +0.024% | $1.9M | $1.0M | 25x | as long as short |
| SoDEX TRX-USD | +0.0037% | 1h | 0.3441 | −0.029% | $405 | $5K | 5x | as long as short |
| Paradex TRX-USD-PERP | +0.0053% | 8h | 0.3441 | −0.045% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDT | +0.0066% | 8h | 0.3442 | −0.026% | $4.6M | $4.0M | 50x | as long as short |
| Phemex TRXUSDT | +0.0077% | 8h | 0.3442 | −0.026% | $3.8M | $1.6M | 50x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3440 | −0.080% | $33K | — | 3x | as long as short |
| Gate TRX_USDT | +0.0089% | 8h | 0.3441 | −0.041% | $9.6M | $2.5M | 75x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3441 | −0.032% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3443 | +0.023% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3442 | −0.026% | $9.4M | $2.0M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3441 | −0.041% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | −0.040% | $587K | $431K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3443 | +0.006% | $115K | $547K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.014% | $196K | $918K | 30x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0235% | 1h | 0.3444 | +0.060% | $832K | $411K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3442 | −0.011% | $20K | — | 100x | as long as short |
gTrade (Gains Network) TRX/USD
Aster TRXUSDT
MEXC TRX_USDT
Lighter TRX
Extended TRX-USD
Binance TRXUSDT
Kraken Futures PF_TRXUSD
SoDEX TRX-USD
Paradex TRX-USD-PERP
BloFin TRX-USDT
Phemex TRXUSDT
Aevo TRX-PERP
Gate TRX_USDT
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]