Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.015%

Price spread now: Bitget against dYdX+0.061%7-day average −0.040% · you sell dearer than you buy

Net, funding: paid 7d − costs−$241as in the Funding arb table

Net, price: spread back to 7d avg − costs−$192as in the Price arb table

costs, in and out, $10k−$2022.020% of the position

Long on dYdX Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.392%−$39 on $10k

Price spread, last 4 days (all we have)−0.102%−$10 · spread now +0.061%, 7d avg −0.040%

Together, before fees−0.494%−$49 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Bitget is 0.101% dearer against dYdX than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of −0.040%. Mind the row above: over the last 7 days funding on this pair cost −0.392%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX TRX-USD	0.3486	0	get 0.0000% / 1h	0m 07s	$183K	$9K	10x
Short	Bitget TRXUSDT	0.3488	0.0100	get 0.0100% / 8h	3h 00m	$10.6M	$3.5M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against dYdX. 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 dYdXbpFee BitgetbpOrdersPrice spread, now +0.061%Rate

Funding earned: $21
Price spread: +0.061% → −0.040%: $10.09
Slippage, 4 orders: −$179.98
Fee dYdX: 5 bp × 2 orders: −$10
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$170.88
Costs to cover: 2.020%
Break-even: 64.0 days

Slippage from dYdX: live order book, 54 min ago; Bitget: live order book, 3 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 dYdX live order book, 54 min ago	87.60 bp	92.6 bp −$93	100.6 bp −$1,006	155.3 bp −$15.5K	514.9 bp −$257.5K
Sell Bitget live order book, 3 min ago	0.14 bp	7.8 bp −$8	11.9 bp −$119	34.6 bp −$3,457	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	0.3487	+0.010%	$5	—	20x	as long as short
Phoenix TRX	−0.0046%	1h	0.3488	+0.038%	$5K	$14K	10x	as long as short
dYdX TRX-USDlong	0.0000%	1h	0.3486	long leg	$183K	$9K	10x
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3487	+0.028%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.301%	$1K	$163K	12x	as long as short
HTX TRX-USDT	+0.0070%	8h	0.3485	−0.043%	$825K	$869K	75x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3488	+0.035%	—	$32.8M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3487	+0.027%	$486K	$671K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3487	+0.009%	$14K	$60K	20x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3487	+0.009%	$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
Hyperliquid TRX	+0.0100%	1h	0.3490	+0.110%	$13.2M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3487	+0.031%	$965K	$698K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3488	+0.039%	$106.4M	$61.4M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3487	+0.018%	$54.0M	$11.9M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3488	+0.035%	$15.6M	$10.0M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3487	+0.029%	$9.7M	$3.0M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3487	+0.027%	$19.0M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3487	+0.021%	$8.5M	$3.5M	75x	as long as short
Bitget TRXUSDTshort	+0.0100%	8h	0.3488	+0.061%	$10.6M	$3.5M	75x
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3486	−0.005%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3485	−0.043%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3486	+0.003%	$595K	$471K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3486	−0.008%	$116K	$581K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3485	−0.034%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3487	+0.027%	$409	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3488	+0.038%	$4.0M	$1.9M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3486	0.000%	$194K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3486	−0.022%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0144%	1h	0.3487	+0.021%	$2.4M	$1.7M	25x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	+0.018%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0491%	1h	0.3487	+0.030%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0536%	1h	0.3491	+0.125%	$853K	$558K	25x	as long as short