Funding arb · Price arb /

TRX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h −0.019%

Price spread now: Orderly against dYdX+0.015%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on dYdX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.226%−$23 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$3 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.226%, 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	55m 55s	$183K	$12K	10x
Short	Orderly PERP_TRX_USDC	0.3487	0.0100	get 0.0100% / 8h	1h 55m	$14K	$60K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.015%Rate

Funding earned: $20.97
Price spread: +0.015% → 0.000%: $1.51
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $6.48
Costs to cover: 0.160%
Break-even: 4.8 days

Slippage unknown: dYdX: live order book, 53 min ago; Orderly: no order-book sample. Net counts fees only.

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, 53 min ago	60.59 bp	78.9 bp −$79	115.9 bp −$1,159	201.8 bp −$20.2K	514.3 bp −$257.1K
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.3486	−0.008%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3488	+0.038%	$5K	$13K	10x	as long as short
HTX TRX-USDT	−0.0001%	8h	0.3483	−0.089%	$833K	$934K	75x	as long as short
dYdX TRX-USDlong	0.0000%	1h	0.3486	long leg	$183K	$12K	10x
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3487	+0.017%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.301%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3487	+0.018%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3487	+0.004%	$487K	$670K	10x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3486	−0.001%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDCshort	+0.0100%	8h	0.3487	+0.015%	$14K	$60K	20x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3489	+0.087%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3486	+0.002%	$966K	$701K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3487	+0.027%	$107.3M	$62.7M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3487	+0.018%	$53.6M	$12.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3487	+0.015%	$15.5M	$10.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3487	+0.012%	$9.7M	$3.1M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3487	+0.029%	$18.9M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3487	+0.029%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3486	−0.005%	$9.8M	$4.3M	75x	as long as short
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	−0.044%	$570K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3486	−0.016%	$594K	$465K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3488	+0.032%	$116K	$581K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3486	−0.021%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3487	+0.015%	$411	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3487	+0.024%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3486	−0.016%	$195K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3485	−0.030%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	+0.021%	$4.7M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0252%	1h	0.3487	+0.029%	$2.4M	$1.8M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0492%	1h	0.3487	+0.009%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0960%	1h	0.3492	+0.147%	$909K	$680K	25x	as long as short