Funding you earn now, next payment 03:00 UTC+0.0762%/8h= +83.5% APRnext payment +$0.95 per $10,000 · paid last 24h +0.072%
Price spread now: Deribit against gTrade (Gains Network)+0.106%7-day average +0.045% · you sell dearer than you buy
Net, funding: paid 7d − costs—under 7 days of funding history
Net, price: spread back to 7d avg − costs−$276as in the Price arb table
costs, in and out, $10k−$2822.818% of the position
Funding, last 3 days (all we have)+0.124%+$12 on $10k
+Price spread, last 3 days (all we have)−0.090%−$9 · spread now +0.106%, 7d avg +0.045%
=Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Deribit is 0.061% dearer against gTrade (Gains Network) than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.045%.
The current funding rate is far above what this pair has been paying: over the last 3 days it paid 0.124% in total (about 13.9% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.95 per $10,000. 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 | gTrade (Gains Network) TRX/USD | 0.3486 | L +0.0003% / S −0.0007% | pay 0.0000% / 1h | 56m 09s | $123K | — | 150x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3489 | 0.0766 | get 0.0096% / 1h | 56m 09s | $838K | $494K | 25x |
gTrade (Gains Network) TRX/USD
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against gTrade (Gains Network). 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
- $160.11
- Price spread: +0.106% → +0.045%
- $6.06
- Slippage, 4 orders
- −$264.83
- Fee gTrade (Gains Network): 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- −$115.66
- Costs to cover
- 2.818%
- Break-even
- 12.1 days
Slippage from gTrade (Gains Network): virtual book (oracle venue), 8 min ago; Deribit: live order book, 8 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 gTrade (Gains Network) virtual book (oracle venue), 8 min ago | 130.00 bp | 135.0 bp −$135 | 224.8 bp −$2,248 | 2109.1 bp −$210.9K | 10777.2 bp −$5.39M |
| Sell Deribit live order book, 8 min ago | 2.15 bp | 6.2 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
TRX on 31 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 | +0.005% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3486 | −0.002% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3485 | −0.008% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USDlong | L +0.0003% / S −0.0007% | 1h | 0.3486 | long leg | $123K | — | 150x | |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.279% | $1K | $163K | 12x | as long as short |
| KuCoin TRXUSDTM | +0.0063% | 8h | 0.3487 | +0.029% | $8.8M | $3.5M | 75x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3485 | −0.020% | $486K | $662K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0097% | 8h | 0.3485 | −0.011% | $14K | $122K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3485 | −0.014% | $9K | $251 | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3487 | +0.029% | $13.1M | $2.5M | 10x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
Injective TRX/USDC PERP
KuCoin TRXUSDTM
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERP
Hyperliquid TRXShow all 31 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | +0.0100% | 8h | 0.3486 | +0.005% | $963K | $692K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3486 | +0.004% | $103.9M | $55.5M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3486 | +0.015% | $54.2M | $11.0M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3485 | −0.008% | $15.7M | $9.3M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3485 | −0.005% | $9.7M | $2.8M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3486 | +0.003% | $19.1M | $2.0M | 200x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3486 | +0.018% | $10.4M | $3.3M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3486 | +0.003% | — | $6.5M | — | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3485 | −0.028% | $59K | $4K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3486 | +0.010% | $569K | $36K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3477 | −0.245% | $593K | $466K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3477 | −0.235% | $116K | $561K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3482 | −0.117% | $198K | $1.1M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3486 | +0.009% | $406 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3484 | −0.055% | $841K | $818K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3485 | −0.008% | $3.9M | $1.7M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3485 | −0.006% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3484 | −0.057% | $34K | — | 3x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3485 | −0.018% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0584% | 1h | 0.3487 | +0.031% | $2.4M | $1.6M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0766% | 1h | 0.3489 | +0.106% | $838K | $494K | 25x |
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
Bitget TRXUSDT
BingX TRX-USDC
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD