Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0316%/8h= −34.6% APRpaid last 24h −0.103%

Price spread now: OKX against Deribit−0.086%7-day average −0.079% · you buy dearer than you sell

Net, funding: paid 7d − costs−$43as in the Funding arb table

Net, price: spread back to 7d avg − costs−$24as in the Price arb table

costs, in and out, $10k−$240.236% of the position

Long on Deribit Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.197%−$20 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.086%, 7d avg −0.079%

Together, before fees−0.060%−$6 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.079%, so right now this pair is about funding alone: −$9 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.197% in total (about -10.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit TRX_USDC-PERPETUAL	0.3487	0.0416	pay 0.0052% / 1h	33m 08s	$819K	$744K	25x
Short	OKX TRX-USDT-SWAP	0.3484	0.0100	get 0.0100% / 8h	7h 33m	$15.6M	$11.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Deribit. 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 DeribitbpFee OKXbpOrdersPrice spread, now −0.086%Rate

Funding earned: −$66.29
Price spread: −0.086% → −0.079%: −$0.66
Slippage, 4 orders: −$6.63
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee OKX: 5 bp × 2 orders: −$10
Net: −$90.58
Costs to cover: 0.236%
Break-even: never at this rate

Slippage from Deribit: live order book, 1 min ago; OKX: live order book, just now.

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 Deribit live order book, 1 min ago	0.14 bp	5.9 bp −$6	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, just now	0.14 bp	7.1 bp −$7	15.6 bp −$156	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
HTX TRX-USDT	−0.0215%	8h	0.3481	−0.194%	$834K	$956K	75x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3483	−0.133%	$5	—	20x	as long as short
Phoenix TRX	−0.0046%	1h	0.3484	−0.100%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3485	−0.057%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3485	−0.067%	$126K	—	150x	as long as short
Kraken Futures PF_TRXUSD	+0.0020%	1h	0.3485	−0.059%	$2.4M	$1.9M	25x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.330%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0044%	1h	0.3484	−0.109%	$62K	$5K	10x	as long as short
Bybit TRXUSDT	+0.0061%	8h	0.3483	−0.126%	$53.5M	$12.8M	75x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3484	−0.091%	—	$32.6M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRXUSDT	+0.0092%	8h	0.3480	−0.210%	$968K	$771K	75x	as long as short
Paradex TRX-USD-PERP	+0.0094%	8h	0.3484	−0.109%	$9K	$171	20x	as long as short
Lighter TRX	+0.0096%	1h	0.3484	−0.094%	$489K	$672K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3484	−0.091%	$14K	$63K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3488	+0.017%	$13.4M	$2.8M	10x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3484	−0.094%	$107.1M	$65.2M	75x	as long as short
OKX TRX-USDT-SWAPshort	+0.0100%	8h	0.3484	−0.086%	$15.6M	$11.0M	50x
Gate TRX_USDT	+0.0100%	8h	0.3484	−0.089%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3484	−0.089%	$19.0M	$2.3M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3485	−0.063%	$8.5M	$3.3M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3483	−0.126%	$9.7M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3482	−0.157%	$577K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3483	−0.125%	$594K	$502K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3484	−0.094%	$116K	$614K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3482	−0.144%	$198K	$1.4M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3484	−0.089%	$407	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3484	−0.091%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3483	−0.127%	$204K	$1.2M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3482	−0.148%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3484	−0.089%	$4.8M	$4.1M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0411% / S −0.0492%	1h	0.3485	−0.079%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUALlong	+0.0416%	1h	0.3487	long leg	$819K	$744K	25x