Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h +0.042%

Price spread now: dYdX against Binance+0.061%7-day average +0.018% · you sell dearer than you buy

Net, funding: paid 7d − costs−$114as in the Funding arb table

Net, price: spread back to 7d avg − costs−$154as in the Price arb table

costs, in and out, $10k−$1581.584% of the position

Long on Binance Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.441%+$44 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.061%, 7d avg +0.018%

Together, before fees+0.362%+$36 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.043% dearer against Binance than usual: you sell high and buy low (spread +0.061% now, against its 7-day average of +0.018%): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 35 hours. Mind the row above: over the last 7 days funding on this pair paid +0.441%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance TRXUSDT	0.3485	0.0100	pay 0.0100% / 8h	2h 33m	$107.0M	$62.3M	75x
Short	dYdX TRX-USD	0.3487	0	get 0.0000% / 1h	33m 30s	$183K	$12K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Binance. 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 BinancebpFee dYdXbpOrdersPrice spread, now +0.061%Rate

Funding earned: −$21
Price spread: +0.061% → +0.018%: $4.34
Slippage, 4 orders: −$138.36
Fee Binance: 5 bp × 2 orders: −$10
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$175.02
Costs to cover: 1.584%
Break-even: never at this rate

Slippage from Binance: live order book, 9 min ago; dYdX: live order book, 15 min ago.

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 Binance live order book, 9 min ago	0.14 bp	5.6 bp −$6	9.5 bp −$95	28.7 bp −$2,870	doesn't fit
Sell dYdX live order book, 15 min ago	60.59 bp	67.3 bp −$67	68.9 bp −$689	87.5 bp −$8,753	514.4 bp −$257.2K

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	0.3483	−0.056%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3486	+0.039%	$5K	$14K	10x	as long as short
dYdX TRX-USDshort	0.0000%	1h	0.3487	+0.061%	$183K	$12K	10x
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3484	−0.019%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.258%	$1K	$163K	12x	as long as short
HTX TRX-USDT	+0.0046%	8h	0.3484	−0.038%	$832K	$920K	75x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3484	−0.024%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3484	−0.009%	$487K	$671K	10x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3484	−0.016%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3485	+0.008%	$14K	$60K	20x	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	0.3487	+0.057%	$13.2M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3485	−0.009%	$964K	$700K	75x	as long as short
Binance TRXUSDTlong	+0.0100%	8h	0.3485	long leg	$107.0M	$62.3M	75x
Bybit TRXUSDT	+0.0100%	8h	0.3484	−0.024%	$53.9M	$12.0M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3485	−0.007%	$15.5M	$10.4M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3485	−0.001%	$9.7M	$3.1M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3484	−0.012%	$18.9M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3484	−0.029%	$8.5M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3483	−0.041%	$9.9M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3484	−0.012%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3484	−0.025%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3486	+0.022%	$594K	$477K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3488	+0.085%	$116K	$582K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3484	−0.027%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3485	−0.001%	$412	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3485	+0.014%	$4.0M	$1.9M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3483	−0.044%	$195K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3483	−0.038%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	+0.068%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0411% / S −0.0492%	1h	0.3484	−0.012%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0415%	1h	0.3486	+0.022%	$2.4M	$1.8M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0737%	1h	0.3489	+0.124%	$902K	$644K	25x	as long as short