Funding you earn now, next payment 23:00 UTC+0.0076%/8h= +8.3% APRpaid last 24h +0.039%
Price spread now: Lighter against Bybit+0.003%7-day average +0.020% · you sell dearer than you buy
Net, funding: paid 7d − costs−$8as in the Funding arb table
Net, price: spread back to 7d avg − costs−$25as in the Price arb table
costs, in and out, $10k−$230.235% of the position
Funding, last 7 days+0.160%+$16 on $10k
+Price spread, last 4 days (all we have)−0.011%−$1 · spread now +0.003%, 7d avg +0.020%
=Together, before fees+0.149%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.020%, so right now this pair is about funding alone: +$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Bybit TRXUSDT | 0.3440 | −0.0052 | get 0.0052% / 8h | 1h 17m | $54.6M | $8.2M | 75x |
| Short | Lighter TRX | 0.3440 | 0.0024 | get 0.0003% / 1h | 17m 54s | $482K | $637K | 10x |
Bybit TRXUSDT
Lighter TRXFunding history
latest
Range statsloading…
Price spread between the two exchanges
Lighter 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
- $15.9
- Price spread: +0.003% → +0.020%
- −$1.75
- Slippage, 4 orders
- −$12.49
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Fee Lighter: 0 bp × 2 orders
- $0
- Net
- −$9.34
- Costs to cover
- 0.235%
- Break-even
- 11.1 days
Slippage from Bybit: live order book, 1 min ago; Lighter: live order book, 62 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, 1 min ago | 1.45 bp | 7.0 bp −$7 | 9.1 bp −$91 | 38.5 bp −$3,848 | doesn't fit |
| Sell Lighter live order book, 62 min ago | 1.02 bp | 3.1 bp −$3 | 9.3 bp −$93 | 45.7 bp −$4,574 | 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 | 0.3440 | −0.009% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | +0.023% | $1K | $163K | 12x | as long as short |
| Variational Omni TRX | −0.0073% | 8h | 0.3440 | −0.004% | $563K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | +0.064% | $5K | $13K | 10x | as long as short |
| KuCoin TRXUSDTM | −0.0058% | 8h | 0.3440 | −0.006% | $8.7M | $3.6M | 75x | as long as short |
| Bybit TRXUSDTlong | −0.0052% | 8h | 0.3440 | long leg | $54.6M | $8.2M | 75x | |
| Backpack TRX_USDC_PERP | −0.0029% | 1h | 0.3441 | +0.012% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | −0.0017% | 8h | 0.3439 | −0.035% | $826K | $719K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | +0.064% | $181K | $10K | 10x | as long as short |
| OKX TRX-USDT-SWAP | 0.0000% | 8h | 0.3440 | +0.003% | $15.6M | $8.8M | 50x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
Variational Omni TRX
Phoenix TRX
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
HTX TRX-USDT
dYdX TRX-USD
OKX TRX-USDT-SWAPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3442 | +0.051% | $121K | — | 150x | as long as short |
| Aster TRXUSDT | +0.0011% | 8h | 0.3441 | +0.036% | $957K | $658K | 75x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3440 | −0.019% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0018% | 8h | 0.3441 | +0.015% | $18.2M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0018% | 8h | 0.3441 | +0.014% | $99.3M | $48.3M | 75x | as long as short |
| Lighter TRXshort | +0.0024% | 1h | 0.3440 | +0.003% | $482K | $637K | 10x | |
| Kraken Futures PF_TRXUSD | +0.0026% | 1h | 0.3442 | +0.065% | $1.9M | $1.0M | 25x | as long as short |
| SoDEX TRX-USD | +0.0047% | 1h | 0.3441 | +0.017% | $405 | $5K | 5x | as long as short |
| Paradex TRX-USD-PERP | +0.0055% | 8h | 0.3441 | +0.012% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDT | +0.0073% | 8h | 0.3441 | +0.035% | $4.6M | $4.0M | 50x | as long as short |
| Phemex TRXUSDT | +0.0081% | 8h | 0.3442 | +0.044% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0088% | 8h | 0.3440 | +0.003% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3439 | −0.035% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3441 | +0.029% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3443 | +0.070% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3440 | +0.006% | $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 | 0.3441 | +0.024% | $587K | $432K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3442 | +0.044% | $115K | $548K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.078% | $196K | $918K | 30x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3442 | +0.048% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0375% | 1h | 0.3444 | +0.120% | $832K | $411K | 25x | as long as short |
gTrade (Gains Network) TRX/USD
Aster TRXUSDT
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
Kraken Futures PF_TRXUSD
SoDEX TRX-USD
Paradex TRX-USD-PERP
BloFin TRX-USDT
Phemex TRXUSDT
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