Funding you earn now, next payment 00:00 UTC+0.0009%/8h= +1.0% APRnext payment +$0.09 per $10,000 · paid last 24h −0.008%
Price spread now: Phemex against BloFin−0.015%59s7-day average +0.007% · you buy dearer than you sell
Net, funding: paid 7d − costs−$38as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$280.284% of the position
Funding, last 7 days−0.100%−$10 on $10k
+Price spread, last 3 days (all we have)+0.016%+$2 · spread now −0.015%, 7d avg +0.007%
=Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Phemex is 0.021% cheaper against BloFin than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of +0.007%. The two prices were read 59 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 | 0.3440 | 0.0066 | pay 0.0066% / 8h | 1h 08m | $4.6M | $4.0M | 50x |
| Short | Phemex TRXUSDT | 0.3439 | 0.0075 | get 0.0075% / 8h | 1h 08m | $3.8M | $1.6M | 50x |
BloFin TRX-USDT
Phemex TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Phemex against BloFin. 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
- $1.84
- Price spread: −0.015% → +0.007%
- −$2.15
- Slippage, 4 orders
- −$4.43
- Fee BloFin: 6 bp × 2 orders
- −$12
- Fee Phemex: 6 bp × 2 orders
- −$12
- Net
- −$28.74
- Costs to cover
- 0.284%
- Break-even
- 116.2 days
Slippage from BloFin: live order book, 5 min ago; Phemex: live order book, 6 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, 5 min ago | 0.29 bp | 6.7 bp −$7 | 9.1 bp −$91 | 21.0 bp −$2,098 | doesn't fit |
| Sell Phemex live order book, 6 min ago | 0.14 bp | 7.5 bp −$8 | 12.3 bp −$123 | 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 | 0.3438 | −0.035% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | +0.041% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | −0.0077% | 8h | 0.3438 | −0.052% | $8.7M | $3.6M | 75x | as long as short |
| Variational Omni TRX | −0.0070% | 8h | 0.3439 | −0.016% | $562K | $38K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3441 | +0.035% | $5K | $13K | 10x | as long as short |
| Bybit TRXUSDT | −0.0053% | 8h | 0.3439 | −0.017% | $54.6M | $8.2M | 75x | as long as short |
| HTX TRX-USDT | −0.0023% | 8h | 0.3437 | −0.080% | $825K | $721K | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0017% | 1h | 0.3440 | +0.015% | $58K | $4K | 10x | as long as short |
| OKX TRX-USDT-SWAP | −0.0002% | 8h | 0.3439 | −0.015% | $15.5M | $8.8M | 50x | as long as short |
| Lighter TRX | 0.0000% | 1h | 0.3438 | −0.032% | $482K | $637K | 10x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Variational Omni TRX
Phoenix TRX
Bybit TRXUSDT
HTX TRX-USDT
Backpack TRX_USDC_PERP
OKX TRX-USDT-SWAP
Lighter TRXShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| dYdX TRX-USD | 0.0000% | 1h | 0.3441 | +0.031% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3440 | +0.022% | $121K | — | 150x | as long as short |
| Aster TRXUSDT | +0.0016% | 8h | 0.3440 | +0.020% | $956K | $659K | 75x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3438 | −0.043% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0016% | 8h | 0.3439 | −0.012% | $18.2M | $1.7M | 200x | as long as short |
| SoDEX TRX-USD | +0.0016% | 1h | 0.3439 | −0.015% | $403 | $5K | 5x | as long as short |
| Binance TRXUSDT | +0.0016% | 8h | 0.3439 | −0.012% | $99.2M | $48.2M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3441 | +0.037% | $1.9M | $1.0M | 25x | as long as short |
| Paradex TRX-USD-PERP | +0.0037% | 8h | 0.3439 | −0.013% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDTlong | +0.0066% | 8h | 0.3440 | long leg | $4.6M | $4.0M | 50x | |
| Phemex TRXUSDTshort | +0.0075% | 8h | 0.3439 | −0.015% | $3.8M | $1.6M | 50x | |
| Gate TRX_USDT | +0.0084% | 8h | 0.3439 | −0.020% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3438 | −0.058% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3439 | −0.012% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3441 | +0.038% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3438 | −0.032% | $9.4M | $2.0M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3440 | +0.003% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3439 | −0.006% | $587K | $430K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | +0.052% | $115K | $550K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3441 | +0.043% | $196K | $919K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3440 | +0.014% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0459% | 1h | 0.3443 | +0.105% | $832K | $411K | 25x | as long as short |
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Aster TRXUSDT
Extended TRX-USD
MEXC TRX_USDT
SoDEX TRX-USD
Binance TRXUSDT
Kraken Futures PF_TRXUSD
Paradex TRX-USD-PERP
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL