Funding you earn now, next payment 08:00 UTC−0.0030%/8h= −3.3% APRnext payment −$0.30 per $10,000 · paid last 24h +0.006%
Price spread now: BingX against Bybit−0.011%7-day average +0.012% · you buy dearer than you sell
Net, funding: paid 7d − costs−$15as in the Funding arb table
Net, price: spread back to 7d avg − costs−$31as in the Price arb table
costs, in and out, $10k−$290.289% of the position
Funding, last 7 days+0.143%+$14 on $10k
+Price spread, last 7 days+0.016%+$2 · spread now −0.011%, 7d avg +0.012%
=Both sides work against this trade now: funding costs −$1 a day on $10k at the current rate, and BingX is 0.023% cheaper against Bybit than usual: you would sell low and buy high (−$2 if the spread goes back to its 7-day average of +0.012%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.143%, so the current rate has only just turned against you.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3485 | 0.0100 | pay 0.0100% / 8h | 40m 13s | $53.6M | $12.7M | 75x |
| Short | BingX TRX-USDC | 0.3485 | 0.0070 | get 0.0070% / 8h | 40m 13s | — | $6.5M | — |
Bybit TRXUSDT
BingX TRX-USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
BingX against Bybit. 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
- −$6.3
- Price spread: −0.011% → +0.012%
- −$2.3
- Slippage, 4 orders
- −$7.9
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee BingX: 5 bp × 2 orders
- −$10
- Net
- −$37.5
- Costs to cover
- 0.289%
- Break-even
- never at this rate
Slippage from Bybit: live order book, 4 min ago; BingX: live order book, 10 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 Bybit live order book, 4 min ago | 1.44 bp | 6.9 bp −$7 | 9.9 bp −$99 | 40.7 bp −$4,070 | doesn't fit |
| Sell BingX live order book, 10 min ago | 0.72 bp | 7.5 bp −$7 | 27.8 bp −$278 | 181.9 bp −$18.2K | 908.8 bp −$454.4K |
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 | 0.3484 | −0.037% | $5 | — | 20x | as long as short |
| HTX TRX-USDT | −0.0075% | 8h | 0.3483 | −0.055% | $835K | $952K | 75x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3482 | −0.077% | $5K | $13K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3485 | +0.012% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3485 | +0.011% | $123K | — | 150x | as long as short |
| Backpack TRX_USDC_PERP | +0.0011% | 1h | 0.3484 | −0.032% | $62K | $5K | 10x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.263% | $1K | $163K | 12x | as long as short |
| SoDEX TRX-USD | +0.0047% | 1h | 0.3484 | −0.017% | $409 | $5K | 5x | as long as short |
| BingX TRX-USDCshort | +0.0070% | 8h | 0.3485 | −0.011% | — | $6.5M | — | |
| Paradex TRX-USD-PERP | +0.0089% | 8h | 0.3485 | −0.006% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
HTX TRX-USDT
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
SoDEX TRX-USD
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TRX | +0.0096% | 1h | 0.3484 | −0.020% | $487K | $671K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3484 | −0.017% | $14K | $61K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3488 | +0.086% | $13.3M | $2.8M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3483 | −0.055% | $972K | $714K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3484 | −0.016% | $106.9M | $63.7M | 75x | as long as short |
| Bybit TRXUSDTlong | +0.0100% | 8h | 0.3485 | long leg | $53.6M | $12.7M | 75x | |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3484 | −0.032% | $15.7M | $10.8M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3485 | −0.009% | $9.6M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3484 | −0.020% | $19.2M | $2.3M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3487 | +0.046% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3484 | −0.023% | $9.8M | $4.3M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3480 | −0.149% | $569K | $33K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3480 | −0.138% | $593K | $460K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3483 | −0.063% | $116K | $596K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3483 | −0.064% | $198K | $1.3M | 30x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3485 | −0.011% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3484 | −0.042% | $205K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3483 | −0.067% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3484 | −0.017% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0295% | 1h | 0.3486 | +0.028% | $2.4M | $1.9M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0492% | 1h | 0.3485 | +0.009% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0565% | 1h | 0.3489 | +0.106% | $878K | $743K | 25x | as long as short |
Lighter TRX
Orderly PERP_TRX_USDC
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL