Funding you earn now, next payment 00:00 UTC+0.0079%/8h= +8.6% APRpaid last 24h +0.039%
Price spread now: Hyperliquid against Binance+0.052%7-day average +0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$18as in the Funding arb table
Net, price: spread back to 7d avg − costs−$18as in the Price arb table
costs, in and out, $10k−$220.219% of the position
Funding, last 7 days+0.038%+$4 on $10k
+Price spread, last 7 days−0.056%−$6 · spread now +0.052%, 7d avg +0.013%
=Together, before fees−0.019%+ Points / potential airdropHyperliquid: Season 2 · farm board−$2 on $10k · with fees, hour by hour
Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.039% dearer against Binance than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.013%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TRXUSDT | 0.3442 | 0.0021 | pay 0.0021% / 8h | 54m 53s | $99.3M | $47.8M | 75x |
| Short | Hyperliquid TRX | 0.3444 | 0.0100 | get 0.0013% / 1h | 54m 53s | $13.2M | $2.2M | 10x |
Binance TRXUSDT
Hyperliquid TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Hyperliquid against Binance. 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
- $16.55
- Price spread: +0.052% → +0.013%
- $3.9
- Slippage, 4 orders
- −$2.95
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$1.5
- Costs to cover
- 0.219%
- Break-even
- 7.6 days
Slippage from Binance: live order book, 3 min ago; Hyperliquid: live order book, 8 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, 3 min ago | 0.14 bp | 6.0 bp −$6 | 10.1 bp −$101 | 27.8 bp −$2,784 | doesn't fit |
| Sell Hyperliquid live order book, 8 min ago | 0.14 bp | 5.8 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
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 | |
|---|---|---|---|---|---|---|---|---|
| Backpack TRX_USDC_PERP | −0.0150% | 1h | 0.3442 | −0.021% | $58K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.041% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3442 | −0.013% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3442 | −0.009% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.012% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0060% | 8h | 0.3440 | −0.069% | $563K | $38K | — | as long as short |
| Bybit TRXUSDT | −0.0043% | 8h | 0.3442 | −0.018% | $54.6M | $8.1M | 75x | as long as short |
| HTX TRX-USDT | −0.0026% | 8h | 0.3440 | −0.083% | $826K | $723K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | +0.002% | $181K | $10K | 10x | as long as short |
| OKX TRX-USDT-SWAP | +0.0003% | 8h | 0.3443 | +0.003% | $15.6M | $8.7M | 50x | as long as short |
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
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 | 0.3444 | +0.036% | $121K | — | 150x | as long as short |
| MEXC TRX_USDT | +0.0021% | 8h | 0.3442 | 0.000% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDTlong | +0.0021% | 8h | 0.3442 | long leg | $99.3M | $47.8M | 75x | |
| Extended TRX-USD | +0.0024% | 1h | 0.3442 | −0.019% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0029% | 8h | 0.3443 | +0.015% | $956K | $659K | 75x | as long as short |
| Lighter TRX | +0.0040% | 1h | 0.3442 | −0.012% | $482K | $630K | 10x | as long as short |
| SoDEX TRX-USD | +0.0044% | 1h | 0.3442 | 0.000% | $403 | $5K | 5x | as long as short |
| Paradex TRX-USD-PERP | +0.0049% | 8h | 0.3442 | −0.017% | $9K | $385 | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3444 | +0.052% | $1.9M | $1.0M | 25x | as long as short |
| Phemex TRXUSDT | +0.0075% | 8h | 0.3442 | −0.003% | $3.8M | $1.6M | 50x | as long as short |
| BloFin TRX-USDT | +0.0085% | 8h | 0.3442 | −0.024% | $4.6M | $4.0M | 50x | as long as short |
| Gate TRX_USDT | +0.0086% | 8h | 0.3443 | +0.011% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.052% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3442 | −0.018% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRXshort | +0.0100% | 1h | 0.3444 | +0.052% | $13.2M | $2.2M | 10x | |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | +0.005% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3442 | −0.018% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | −0.054% | $587K | $429K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.067% | $115K | $556K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3445 | +0.061% | $196K | $917K | 30x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0331% | 1h | 0.3446 | +0.099% | $829K | $414K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | +0.023% | $20K | — | 100x | as long as short |
gTrade (Gains Network) TRX/USD
MEXC TRX_USDT
Extended TRX-USD
Aster TRXUSDT
Lighter TRX
SoDEX TRX-USD
Paradex TRX-USD-PERP
Kraken Futures PF_TRXUSD
Phemex TRXUSDT
BloFin TRX-USDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]