Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0391%/8h= +42.8% APRpaid last 24h +0.072%

Price spread now: GMX against edgeX+0.073%50s7-day average — · you sell dearer than you buy

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

Long on edgeX Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropedgeX: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$12 a day on $10k at the current rate, and GMX is 0.073% dearer against edgeX than usual: you sell high and buy low: +$7 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 50 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	edgeX TRXUSDC	0.3483	0.0100	pay 0.0050% / 4h	3h 27m	$594K	$466K	20x
Short	GMX TRX/USD [ETH-USDC]	0.3486	L +0.0410% / S −0.0491%	get 0.0061% / 1h	27m 40s	$20K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against edgeX. 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 edgeXbpFee GMXbpOrdersPrice spread, now +0.073%Rate

Funding earned: $82.13
Price spread: +0.073% → 0.000%: $7.28
Slippage, 4 orders: no order book: not counted
Fee edgeX: 4.5 bp × 2 orders: −$9
Fee GMX: 6 bp × 2 orders: −$12
Net: $68.4
Costs to cover: 0.210%
Break-even: 1.2 days

Slippage unknown: edgeX: live order book, 26 min ago; GMX: 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 edgeX live order book, 26 min ago	0.72 bp	5.2 bp −$5	6.6 bp −$66	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	0.3485	+0.052%	$5	—	20x	as long as short
Phoenix TRX	−0.0046%	1h	0.3484	+0.034%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	+0.092%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3486	+0.094%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.209%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3486	+0.089%	—	$32.8M	—	as long as short
HTX TRX-USDT	+0.0077%	8h	0.3481	−0.068%	$825K	$887K	75x	as long as short
Lighter TRX	+0.0096%	1h	0.3486	+0.092%	$486K	$671K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3485	+0.066%	$14K	$60K	20x	as long as short
Paradex TRX-USD-PERP	+0.0100%	8h	0.3486	+0.070%	$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	0.3489	+0.181%	$13.2M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3487	+0.103%	$966K	$698K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3487	+0.097%	$106.4M	$60.9M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3486	+0.083%	$53.9M	$11.9M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3488	+0.138%	$15.6M	$10.2M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3486	+0.086%	$9.7M	$3.0M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3486	+0.086%	$19.0M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3487	+0.109%	$8.6M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3487	+0.120%	$10.6M	$3.5M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3485	+0.066%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3481	−0.064%	$570K	$37K	—	as long as short
edgeX TRXUSDClong	+0.0100%	4h	0.3483	long leg	$594K	$466K	20x
ApeX Omni TRXUSDT	+0.0100%	1h	0.3482	−0.032%	$116K	$573K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3483	+0.009%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3486	+0.077%	$409	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3486	+0.083%	$3.9M	$1.9M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3485	+0.061%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3484	+0.027%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSD	+0.0144%	1h	0.3486	+0.097%	$2.4M	$1.7M	25x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3483	+0.008%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]short	L +0.0410% / S −0.0491%	1h	0.3486	+0.073%	$20K	—	100x
Deribit TRX_USDC-PERPETUAL	+0.0768%	1h	0.3490	+0.201%	$844K	$538K	25x	as long as short