Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0213%/8h= −23.3% APRpaid last 24h −0.027%

Price spread now: gTrade (Gains Network) against BloFin+0.048%50s7-day average +0.021% · you sell dearer than you buy

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2832.831% of the position

Long on BloFin Short on gTrade (Gains Network)

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.141%−$14 on $10k

Price spread, last 4 days (all we have)−0.034%−$3 · spread now +0.048%, 7d avg +0.021%

Together, before fees−0.175%−$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. gTrade (Gains Network) is 0.026% dearer against BloFin than usual: you sell high and buy low (spread +0.048% now, against its 7-day average of +0.021%): +$3 on $10k if it goes back. Holding the pair costs −$6 a day in funding at the current rate, which eats that in about 10 hours. The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin TRX-USDT	0.3482	0.0220	pay 0.0220% / 8h	12m 14s	$4.8M	$4.0M	50x
Short	gTrade (Gains Network) TRX/USD	0.3483	L +0.0003% / S −0.0007%	get 0.0001% / 1h	12m 14s	$126K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now +0.048%Rate

Funding earned: −$44.7
Price spread: +0.048% → +0.021%: $2.65
Slippage, 4 orders: −$261.08
Fee BloFin: 6 bp × 2 orders: −$12
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$325.12
Costs to cover: 2.831%
Break-even: never at this rate

Slippage from BloFin: live order book, 6 min ago; gTrade (Gains Network): virtual book (oracle venue), 27 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	0.43 bp	6.6 bp −$7	8.9 bp −$89	24.8 bp −$2,481	doesn't fit
Sell gTrade (Gains Network) virtual book (oracle venue), 27 min ago	130.02 bp	135.0 bp −$135	205.2 bp −$2,052	2197.0 bp −$219.7K	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	0.3481	−0.007%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0085%	8h	0.3481	−0.016%	$834K	$958K	75x	as long as short
Phoenix TRX	−0.0023%	1h	0.3482	+0.017%	$5K	$13K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3484	+0.056%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USDshort	L +0.0003% / S −0.0007%	1h	0.3483	+0.048%	$126K	—	150x
Backpack TRX_USDC_PERP	+0.0020%	1h	0.3481	−0.009%	$62K	$5K	10x	as long as short
SoDEX TRX-USD	+0.0021%	1h	0.3482	+0.017%	$405	$5K	5x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.166%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3482	0.000%	—	$32.6M	—	as long as short
Paradex TRX-USD-PERP	+0.0087%	8h	0.3481	−0.013%	$9K	$251	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRX	+0.0096%	1h	0.3482	+0.006%	$487K	$674K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3482	+0.006%	$14K	$63K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3485	+0.106%	$13.4M	$2.8M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3481	−0.022%	$973K	$714K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3482	+0.017%	$106.9M	$64.9M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3482	+0.023%	$53.5M	$12.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3482	+0.014%	$15.7M	$10.9M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3483	+0.040%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3483	+0.029%	$19.1M	$2.4M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3484	+0.060%	$8.5M	$3.3M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3482	+0.009%	$9.8M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3480	−0.047%	$569K	$30K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3481	−0.024%	$594K	$511K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3481	−0.009%	$116K	$604K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3480	−0.038%	$198K	$1.4M	30x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3483	+0.037%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3481	−0.018%	$206K	$1.2M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3481	−0.020%	$34K	—	3x	as long as short
BloFin TRX-USDTlong	+0.0220%	8h	0.3482	long leg	$4.8M	$4.0M	50x
Kraken Futures PF_TRXUSD	+0.0296%	1h	0.3483	+0.051%	$2.3M	$1.9M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0411% / S −0.0492%	1h	0.3483	+0.054%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0433%	1h	0.3486	+0.120%	$849K	$764K	25x	as long as short