Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0295%/8h= +32.3% APRpaid last 24h +0.063%

Price spread now: GMX against Bitget−0.051%7-day average — · you buy dearer than you sell

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

Long on Bitget Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Funding pays, the price is against you. GMX is 0.051% cheaper against Bitget than usual: you would sell low and buy high (spread −0.051% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$5 on $10k: about 14 hours of funding at the current rate (+$9 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget TRXUSDT	0.3463	0.0100	pay 0.0100% / 8h	7h 08m	$10.4M	$3.0M	75x
Short	GMX TRX/USD [ETH-USDC]	0.3461	L +0.0367% / S −0.0395%	get 0.0049% / 1h	8m 39s	$20K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.051%Rate

Funding earned: $61.89
Price spread: −0.051% → 0.000%: −$5.05
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: $32.83
Costs to cover: 0.240%
Break-even: 3.3 days

Slippage unknown: Bitget: live order book, 5 min ago; GMX: 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 Bitget live order book, 5 min ago	0.14 bp	9.3 bp −$9	18.1 bp −$181	29.1 bp −$2,915	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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 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	0.3461	−0.053%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0079%	8h	0.3461	−0.040%	$8.7M	$3.5M	75x	as long as short
Phoenix TRX	−0.0046%	1h	0.3462	−0.020%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3462	−0.005%	$182K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3461	−0.034%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.624%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0034%	1h	0.3460	−0.081%	$59K	$4K	10x	as long as short
Variational Omni TRX	+0.0066%	8h	0.3462	−0.019%	$565K	$37K	—	as long as short
Extended TRX-USD	+0.0088%	1h	0.3460	−0.061%	$194K	$1.0M	25x	as long as short
MEXC TRX_USDT	+0.0088%	8h	0.3461	−0.043%	$18.6M	$1.9M	200x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance TRXUSDT	+0.0089%	8h	0.3461	−0.041%	$101.1M	$48.8M	75x	as long as short
Orderly PERP_TRX_USDC	+0.0092%	8h	0.3461	−0.061%	$15K	$107K	20x	as long as short
Paradex TRX-USD-PERP	+0.0093%	8h	0.3460	−0.063%	$9K	$251	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3460	−0.064%	$484K	$632K	10x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3463	+0.003%	$13.2M	$2.3M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3460	−0.065%	$957K	$666K	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3462	−0.017%	$55.1M	$8.6M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3461	−0.043%	$15.5M	$8.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3461	−0.038%	$9.7M	$2.6M	75x	as long as short
Bitget TRXUSDTlong	+0.0100%	8h	0.3463	long leg	$10.4M	$3.0M	75x
BingX TRX-USDC	+0.0100%	8h	0.3461	−0.043%	—	$6.5M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3461	−0.044%	$591K	$440K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3462	−0.026%	$115K	$566K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3457	−0.153%	$197K	$972K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3461	−0.046%	$407	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3459	−0.095%	$831K	$777K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3461	−0.058%	$3.9M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3459	−0.111%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0172%	1h	0.3463	+0.006%	$2.3M	$1.5M	25x	as long as short
BloFin TRX-USDT	+0.0208%	8h	0.3461	−0.061%	$4.7M	$4.0M	50x	as long as short
GMX TRX/USD [ETH-USDC]short	L +0.0367% / S −0.0395%	1h	0.3461	−0.051%	$20K	—	100x
Deribit TRX_USDC-PERPETUAL	+0.0599%	1h	0.3464	+0.052%	$844K	$425K	25x	as long as short