Funding you earn now, next payment 08:00 UTC+0.0037%/8h= +4.1% APRnext payment +$0.37 per $10,000 · paid last 24h +0.014%
Price spread now: Phemex against Binance+0.003%7-day average +0.004% · you sell dearer than you buy
Net, funding: paid 7d − costs−$17as in the Funding arb table
Net, price: spread back to 7d avg − costs−$26as in the Price arb table
costs, in and out, $10k−$260.263% of the position
Funding, last 7 days+0.092%+$9 on $10k
+Price spread, last 3 days (all we have)−0.027%−$3 · spread now +0.003%, 7d avg +0.004%
=The price spread sits at its 7-day average of +0.004%, so right now this pair is about funding alone: +$1 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Binance TRXUSDT | 0.3451 | 0.0063 | pay 0.0063% / 8h | 7h 34m | $100.1M | $46.9M | 75x |
| Short | Phemex TRXUSDT | 0.3451 | 0.0100 | get 0.0100% / 8h | 7h 34m | $3.8M | $1.6M | 50x |
Binance TRXUSDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex 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
- $7.83
- Price spread: +0.003% → +0.004%
- −$0.07
- Slippage, 4 orders
- −$4.28
- Fee Binance: 5 bp × 2 orders
- −$10
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$18.51
- Costs to cover
- 0.263%
- Break-even
- 23.5 days
Slippage from Binance: live order book, 8 min ago; Phemex: live order book, 4 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 | 9.7 bp −$97 | 17.5 bp −$1,747 | doesn't fit |
| Sell Phemex live order book, 4 min ago | 0.14 bp | 6.7 bp −$7 | 12.5 bp −$125 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3451 | −0.009% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0090% | 8h | 0.3450 | −0.023% | $8.7M | $3.5M | 75x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3452 | +0.032% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3450 | −0.021% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3452 | +0.029% | $122K | — | 150x | as long as short |
| Variational Omni TRX | +0.0023% | 8h | 0.3451 | −0.004% | $564K | $36K | — | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.293% | $1K | $163K | 12x | as long as short |
| OKX TRX-USDT-SWAP | +0.0061% | 8h | 0.3452 | +0.035% | $15.6M | $8.1M | 50x | as long as short |
| MEXC TRX_USDT | +0.0061% | 8h | 0.3451 | 0.000% | $18.3M | $1.9M | 200x | as long as short |
| Binance TRXUSDTlong | +0.0063% | 8h | 0.3451 | long leg | $100.1M | $46.9M | 75x |
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Variational Omni TRX
Injective TRX/USDC PERP
OKX TRX-USDT-SWAP
MEXC TRX_USDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Extended TRX-USD | +0.0064% | 1h | 0.3451 | −0.014% | $194K | $1.4M | 25x | as long as short |
| Backpack TRX_USDC_PERP | +0.0066% | 1h | 0.3450 | −0.020% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | +0.0083% | 8h | 0.3450 | −0.040% | $829K | $737K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0086% | 8h | 0.3451 | +0.001% | $9K | $385 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3451 | −0.012% | $14K | $107K | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3451 | −0.012% | $483K | $630K | 10x | as long as short |
| Aevo TRX-PERP | +0.0096% | 1h | 0.3449 | −0.056% | $33K | — | 3x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3453 | +0.052% | $13.2M | $2.2M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3450 | −0.018% | $957K | $658K | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3452 | +0.026% | $54.8M | $7.9M | 75x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3452 | +0.020% | $9.7M | $2.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3451 | +0.003% | $9.4M | $2.1M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3451 | +0.009% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3450 | −0.030% | $589K | $434K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3450 | −0.023% | $115K | $571K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3450 | −0.045% | $196K | $930K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3451 | +0.003% | $404 | $5K | 5x | as long as short |
| Phemex TRXUSDTshort | +0.0100% | 8h | 0.3451 | +0.003% | $3.8M | $1.6M | 50x | |
| Kraken Futures PF_TRXUSD | +0.0172% | 1h | 0.3454 | +0.083% | $2.3M | $1.5M | 25x | as long as short |
| BloFin TRX-USDT | +0.0183% | 8h | 0.3451 | 0.000% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0367% / S −0.0395% | 1h | 0.3451 | +0.001% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0625% | 1h | 0.3455 | +0.114% | $834K | $414K | 25x | as long as short |
Extended TRX-USD
Backpack TRX_USDC_PERP
HTX TRX-USDT
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
Lighter TRX
Aevo TRX-PERP
Hyperliquid TRX
Aster TRXUSDT
Bybit TRXUSDT
Gate TRX_USDT
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Kraken Futures PF_TRXUSD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL