Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0253%/8hnext payment −$2.53 per $10,000 · paid last 24h −0.032%

Price spread now: Bybit against BloFin−0.052%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$53as in the Funding arb table

Net, price: spread back to 7d avg − costs−$32as in the Price arb table

costs, in and out, $10k−$290.289% of the position

Long on BloFin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.239%−$24 on $10k

Price spread, last 3 days (all we have)+0.031%+$3 · spread now −0.052%, 7d avg −0.022%

Together, before fees−0.208%−$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Bybit is 0.031% cheaper against BloFin than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRX-USDT	0.3441	0.0107	pay 0.0107% / 8h	4h 06m	$4.6M	$4.0M	50x
Short	Bybit TRXUSDT	0.3439	−0.0146	pay 0.0146% / 8h	4h 06m	$54.6M	$7.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against BloFin. 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 BloFinbpFee BybitbpOrdersPrice spread, now −0.052%Rate

Funding earned: −$53.23
Price spread: −0.052% → −0.022%: −$3.06
Slippage, 4 orders: −$5.91
Fee BloFin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$85.2
Costs to cover: 0.289%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; Bybit: live order book, 1 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 BloFin live order book, 6 min ago	0.29 bp	7.5 bp −$7	10.1 bp −$101	21.3 bp −$2,135	doesn't fit
Sell Bybit live order book, 1 min ago	1.45 bp	7.0 bp −$7	9.5 bp −$95	44.6 bp −$4,457	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	−0.0201%	1h	0.3441	−0.003%	$60K	$5K	10x	as long as short
BingX TRX-USDT	−0.0148%	8h	0.3441	−0.009%	—	$37.9M	—	as long as short
Bybit TRXUSDTshort	−0.0146%	8h	0.3439	−0.052%	$54.6M	$7.7M	75x
Injective TRX/USDC PERP	−0.0135%	1h	0.3438	−0.090%	$1K	$79K	12x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3441	−0.010%	$5	—	20x	as long as short
Phoenix TRX	−0.0093%	1h	0.3443	+0.041%	$5K	$13K	10x	as long as short
Variational Omni TRX	−0.0084%	8h	0.3439	−0.047%	$564K	$42K	—	as long as short
Aster TRXUSDT	−0.0076%	8h	0.3441	−0.009%	$952K	$617K	75x	as long as short
SoDEX TRX-USD	−0.0071%	1h	0.3441	0.000%	$405	$5K	5x	as long as short
Kraken Futures PF_TRXUSD	−0.0045%	1h	0.3443	+0.066%	$1.8M	$946K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
HTX TRX-USDT	−0.0033%	8h	0.3440	−0.041%	$828K	$662K	75x	as long as short
Extended TRX-USD	−0.0016%	1h	0.3441	−0.016%	$195K	$1.1M	25x	as long as short
MEXC TRX_USDT	−0.0013%	8h	0.3441	0.000%	$17.1M	$1.6M	200x	as long as short
Binance TRXUSDT	−0.0013%	8h	0.3441	+0.003%	$99.3M	$50.4M	75x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3443	+0.058%	$121K	—	150x	as long as short
OKX TRX-USDT-SWAP	+0.0007%	8h	0.3441	−0.003%	$15.6M	$8.7M	50x	as long as short
Paradex TRX-USD-PERP	+0.0013%	8h	0.3441	−0.008%	$8K	$334	20x	as long as short
Lighter TRX	+0.0016%	1h	0.3441	−0.006%	$486K	$623K	10x	as long as short
Bitget TRXUSDT	+0.0055%	8h	0.3440	−0.020%	$9.4M	$2.0M	75x	as long as short
Phemex TRXUSDT	+0.0060%	8h	0.3441	+0.003%	$3.7M	$1.5M	50x	as long as short
Gate TRX_USDT	+0.0079%	8h	0.3441	−0.003%	$9.7M	$2.5M	75x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3440	−0.036%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0084%	8h	0.3441	0.000%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3444	+0.078%	$13.3M	$2.2M	10x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3441	−0.015%	$8.6M	$3.6M	75x	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.009%	$587K	$444K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3440	−0.041%	$115K	$535K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3443	+0.062%	$196K	$907K	30x	as long as short
BloFin TRX-USDTlong	+0.0107%	8h	0.3441	long leg	$4.6M	$4.0M	50x
dYdX TRX-USD	+0.0204%	1h	0.3443	+0.048%	$183K	$6K	10x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0337% / S −0.0340%	1h	0.3443	+0.041%	$18K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0360%	1h	0.3445	+0.117%	$827K	$378K	25x	as long as short