Funding you earn now, next payment 20:00 UTC−0.0064%/8h= −7.0% APRnext payment −$0.08 per $10,000 · paid last 24h −0.013%
Price spread now: Reya against Phoenix−0.022%59s7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 3 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Reya is 0.022% cheaper against Phoenix than usual: you would sell low and buy high (−$2 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 59 seconds apart, so part of this spread may be the market moving, not a spread.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TRX | 0.3443 | −0.0070 | get 0.0009% / 1h | 36m 20s | $5K | $13K | 10x |
| Short | Reya TRXRUSDPERP | 0.3442 | −0.0133 | pay 0.0017% / 1h | 36m 20s | $5 | — | 20x |
Phoenix TRX
Reya TRXRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya 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
- −$13.35
- Price spread: −0.022% → 0.000%
- −$2.21
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$28.57
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Reya: 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 Reya no order-book sample | — | — | — | — | — |
Phoenix and Reya: 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 TRXRUSDPERPshort | −0.0133% | 1h | 0.3442 | −0.022% | $5 | — | 20x | |
| BingX TRX-USDC | −0.0120% | 8h | 0.3442 | −0.015% | — | $6.5M | — | as long as short |
| Bybit TRXUSDT | −0.0106% | 8h | 0.3442 | −0.017% | $54.7M | $7.6M | 75x | as long as short |
| Variational Omni TRX | −0.0082% | 8h | 0.3440 | −0.090% | $564K | $40K | — | as long as short |
| Phoenix TRXlong | −0.0070% | 1h | 0.3443 | long leg | $5K | $13K | 10x | |
| Aster TRXUSDT | −0.0053% | 8h | 0.3442 | −0.029% | $952K | $620K | 75x | as long as short |
| Injective TRX/USDC PERP | −0.0048% | 1h | 0.3438 | −0.134% | $1K | $55K | 12x | as long as short |
| HTX TRX-USDT | −0.0033% | 8h | 0.3442 | −0.021% | $829K | $673K | 75x | as long as short |
| MEXC TRX_USDT | −0.0002% | 8h | 0.3442 | −0.009% | $17.1M | $1.6M | 200x | as long as short |
| Binance TRXUSDT | −0.0001% | 8h | 0.3442 | −0.009% | $99.3M | $49.4M | 75x | as long as short |
BingX TRX-USDC
Bybit TRXUSDT
Variational Omni TRX
Aster TRXUSDT
Injective TRX/USDC PERP
HTX TRX-USDT
MEXC TRX_USDT
Binance TRXUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended TRX-USD | 0.0000% | 1h | 0.3441 | −0.033% | $196K | $1.1M | 25x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | +0.035% | $121K | — | 150x | as long as short |
| OKX TRX-USDT-SWAP | +0.0004% | 8h | 0.3442 | −0.017% | $15.6M | $8.6M | 50x | as long as short |
| SoDEX TRX-USD | +0.0016% | 1h | 0.3442 | −0.006% | $401 | $5K | 5x | as long as short |
| Lighter TRX | +0.0016% | 1h | 0.3442 | −0.026% | $486K | $623K | 10x | as long as short |
| Backpack TRX_USDC_PERP | +0.0016% | 1h | 0.3442 | −0.015% | $59K | $5K | 10x | as long as short |
| dYdX TRX-USD | +0.0024% | 1h | 0.3443 | +0.005% | $183K | $6K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0035% | 8h | 0.3442 | −0.017% | $9K | $384 | 20x | as long as short |
| Bitget TRXUSDT | +0.0067% | 8h | 0.3442 | −0.029% | $9.4M | $2.0M | 75x | as long as short |
| Aevo TRX-PERP | +0.0080% | 1h | 0.3441 | −0.049% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0086% | 8h | 0.3442 | −0.009% | $14K | $107K | 20x | as long as short |
| Gate TRX_USDT | +0.0087% | 8h | 0.3442 | −0.009% | $9.7M | $2.5M | 75x | as long as short |
| Phemex TRXUSDT | +0.0088% | 8h | 0.3442 | −0.009% | $3.7M | $1.5M | 50x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3445 | +0.064% | $13.3M | $2.2M | 10x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3442 | −0.032% | $8.6M | $3.5M | 75x | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | −0.007% | $587K | $442K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | −0.049% | $115K | $533K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.023% | $196K | $904K | 30x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0116% | 1h | 0.3445 | +0.056% | $1.8M | $962K | 25x | as long as short |
| BloFin TRX-USDT | +0.0118% | 8h | 0.3442 | −0.026% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0334% / S −0.0340% | 1h | 0.3443 | +0.022% | $18K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0424% | 1h | 0.3446 | +0.107% | $829K | $409K | 25x | as long as short |
Extended TRX-USD
gTrade (Gains Network) TRX/USD
OKX TRX-USDT-SWAP
SoDEX TRX-USD
Lighter TRX
Backpack TRX_USDC_PERP
dYdX TRX-USD
Paradex TRX-USD-PERP
Bitget TRXUSDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Gate TRX_USDT
Phemex TRXUSDT
Hyperliquid TRX
KuCoin TRXUSDTM
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL