Funding arb · Price arb /

TRX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.049%

Price spread now: Phoenix against SunX+0.095%7-day average — · you sell dearer than you buy

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

Long on SunX Short on Phoenix

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—needs both histories

The price spread pays, funding is against you. Phoenix is 0.095% dearer against SunX than usual: you sell high and buy low (spread +0.095% now, against zero (this spread has no 7-day history yet)): +$10 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 2.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX TRX-USDT	0.3489	0.0100	pay 0.0100% / 8h	6h 19m	$198K	$1.3M	30x
Short	Phoenix TRX	0.3492	−0.0023	pay 0.0003% / 1h	19m 25s	$5K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix against SunX. 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 SunXbpFee PhoenixbpOrdersPrice spread, now +0.095%Rate

Funding earned: −$25.82
Price spread: +0.095% → 0.000%: $9.52
Slippage, 4 orders: no order book: not counted
Fee SunX: 4 bp × 2 orders: −$8
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$31.3
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: SunX: live order book, 8 min ago; Phoenix: 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 SunX live order book, 8 min ago	17.29 bp	24.8 bp −$25	37.9 bp −$379	doesn't fit	doesn't fit
Sell Phoenix no order-book sample	—	—	—	—	—

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 exchanges

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
Aster TRXUSDT	−0.0206%	8h	0.3483	−0.174%	$965K	$924K	75x	as long as short
HTX TRX-USDT	−0.0202%	8h	0.3489	+0.001%	$835K	$947K	75x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3491	+0.045%	$5	—	20x	as long as short
Phoenix TRXshort	−0.0023%	1h	0.3492	+0.095%	$5K	$14K	10x
Backpack TRX_USDC_PERP	−0.0012%	1h	0.3490	+0.035%	$63K	$5K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3491	+0.064%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3491	+0.058%	$126K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.378%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3491	+0.061%	—	$32.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3491	+0.049%	$484K	$669K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Paradex TRX-USD-PERP	+0.0099%	8h	0.3490	+0.036%	$9K	$52	20x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3491	+0.041%	$14K	$71K	20x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3491	+0.052%	$107.5M	$64.2M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3490	+0.029%	$53.7M	$13.4M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3491	+0.066%	$15.5M	$11.4M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3491	+0.049%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3491	+0.052%	$18.9M	$2.4M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3491	+0.049%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3490	+0.035%	$9.7M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3491	+0.049%	$578K	$30K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3491	+0.050%	$595K	$514K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3490	+0.038%	$117K	$617K	50x	as long as short
SunX TRX-USDTlong	+0.0100%	8h	0.3489	long leg	$198K	$1.3M	30x
SoDEX TRX-USD	+0.0100%	1h	0.3491	+0.052%	$406	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3491	+0.061%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3490	+0.015%	$213K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3489	−0.009%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3490	+0.024%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0256%	1h	0.3492	+0.083%	$2.4M	$1.7M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0492%	1h	0.3491	+0.048%	$20K	—	100x	as long as short
Hyperliquid TRX	+0.0457%	1h	0.3496	+0.193%	$14.2M	$2.6M	10x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0684%	1h	0.3495	+0.157%	$806K	$740K	25x	as long as short