Funding you earn now, next payment 02:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.020%
Price spread now: Lighter against Binance−0.036%7-day average −0.006% · you buy dearer than you sell
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$20as in the Price arb table
costs, in and out, $10k−$170.175% of the position
Funding, last 7 days+0.093%+$9 on $10k
+Price spread, last 4 days (all we have)+0.023%+$2 · spread now −0.036%, 7d avg −0.006%
=Together, before fees+0.116%+ Points / potential airdropLighter: Season 3 · farm board+$12 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.030% cheaper against Binance than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.006%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TRXUSDT | 0.3477 | 0.0100 | pay 0.0100% / 8h | 6h 04m | $103.5M | $53.8M | 75x |
| Short | Lighter TRX | 0.3475 | 0.0096 | get 0.0012% / 1h | 4m 29s | $485K | $663K | 10x |
Binance TRXUSDT
Lighter TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- −$0.84
- Price spread: −0.036% → −0.006%
- −$3.01
- Slippage, 4 orders
- −$7.47
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$21.33
- Costs to cover
- 0.175%
- Break-even
- never at this rate
Slippage from Binance: live order book, 8 min ago; Lighter: live order book, 60 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, 8 min ago | 0.14 bp | 6.8 bp −$7 | 12.5 bp −$125 | 38.1 bp −$3,811 | doesn't fit |
| Sell Lighter live order book, 60 min ago | 1.30 bp | 3.1 bp −$3 | 8.7 bp −$87 | 43.2 bp −$4,317 | doesn't fit |
TRX on 31 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 | 0.3477 | −0.002% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3475 | −0.042% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3474 | −0.063% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3477 | +0.011% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.025% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | +0.0046% | 8h | 0.3477 | +0.007% | $8.7M | $3.5M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0081% | 1h | 0.3474 | −0.067% | $59K | $4K | 10x | as long as short |
| Lighter TRXshort | +0.0096% | 1h | 0.3475 | −0.036% | $485K | $663K | 10x | |
| Orderly PERP_TRX_USDC | +0.0096% | 8h | 0.3474 | −0.070% | $14K | $122K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0098% | 8h | 0.3474 | −0.062% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERPShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3478 | +0.033% | $13.0M | $2.5M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3474 | −0.073% | $960K | $673K | 75x | as long as short |
| Binance TRXUSDTlong | +0.0100% | 8h | 0.3477 | long leg | $103.5M | $53.8M | 75x | |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3477 | +0.010% | $54.1M | $10.6M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3477 | +0.019% | $15.6M | $9.1M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3477 | −0.001% | $9.7M | $2.8M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3477 | −0.001% | $18.9M | $2.1M | 200x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3478 | +0.027% | $10.3M | $3.3M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3477 | +0.004% | — | $6.5M | — | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3473 | −0.108% | $567K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3472 | −0.123% | $592K | $463K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3472 | −0.128% | $115K | $562K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3471 | −0.155% | $197K | $1.1M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3475 | −0.047% | $409 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3475 | −0.061% | $835K | $809K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3475 | −0.059% | $3.9M | $1.7M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3476 | −0.007% | $194K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3472 | −0.121% | $34K | — | 3x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0403% / S −0.0481% | 1h | 0.3476 | −0.015% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0523% | 1h | 0.3477 | −0.001% | $2.3M | $1.6M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0605% | 1h | 0.3478 | +0.053% | $815K | $478K | 25x | as long as short |
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
Bitget TRXUSDT
BingX TRX-USDC
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD
Deribit TRX_USDC-PERPETUAL