Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0097%/8h= +10.6% APRpaid last 24h −0.041%

Price spread now: HTX against gTrade (Gains Network)−0.086%51s7-day average −0.062% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2912.915% of the position

Long on gTrade (Gains Network)Short on HTX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.119%−$12 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now −0.086%, 7d avg −0.062%

Together, before fees−0.112%−$11 on $10k · with fees, hour by hour

Funding pays, the price is against you. HTX is 0.024% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.086% now, against its 7-day average of −0.062%). If the spread goes back, that is −$2 on $10k: about 20 hours of funding at the current rate (+$3 a day). Mind the row above: over the last 3 days funding on this pair cost −0.119%, so the current rate has only just turned in your favour. The two prices were read 51 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	gTrade (Gains Network) TRX/USD	0.3483	L +0.0003% / S −0.0007%	pay 0.0000% / 1h	26m 19s	$123K	—	150x
Short	HTX TRX-USDT	0.3480	0.0100	get 0.0100% / 8h	5h 26m	$840K	$816K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX 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 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 gTrade (Gains Network)bpFee HTXbpOrdersPrice spread, now −0.086%Rate

Funding earned: $20.34
Price spread: −0.086% → −0.062%: −$2.39
Slippage, 4 orders: −$269.47
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$273.52
Costs to cover: 2.915%
Break-even: 101.2 days

Slippage from gTrade (Gains Network): virtual book (oracle venue), 38 min ago; HTX: live order book, 37 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), 38 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 HTX live order book, 37 min ago	4.33 bp	10.4 bp −$10	14.7 bp −$147	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
Reya TRXRUSDPERP	−0.0133%	1h	0.3482	−0.021%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3484	+0.044%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3483	+0.014%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USDlong	L +0.0003% / S −0.0007%	1h	0.3483	long leg	$123K	—	150x
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.199%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3483	+0.004%	—	$32.8M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3483	−0.005%	$486K	$663K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0097%	8h	0.3483	−0.002%	$14K	$122K	20x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3482	−0.025%	$9K	$251	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3485	+0.064%	$13.1M	$2.6M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRXUSDT	+0.0100%	8h	0.3482	−0.008%	$964K	$691K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3483	+0.006%	$105.5M	$56.3M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3483	+0.007%	$53.9M	$11.3M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3483	+0.004%	$15.6M	$9.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3483	−0.005%	$9.7M	$2.9M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3483	+0.007%	$18.7M	$2.1M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3483	+0.009%	$8.6M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3483	−0.002%	$10.4M	$3.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3481	−0.059%	$59K	$4K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3485	+0.058%	$569K	$36K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3483	−0.007%	$594K	$465K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3485	+0.061%	$116K	$562K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3479	−0.095%	$198K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3483	−0.005%	$409	$5K	5x	as long as short
HTX TRX-USDTshort	+0.0100%	8h	0.3480	−0.086%	$840K	$816K	75x
Phemex TRXUSDT	+0.0100%	8h	0.3482	−0.034%	$3.9M	$1.8M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3482	−0.029%	$198K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3481	−0.051%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3482	−0.028%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0404% / S −0.0481%	1h	0.3483	−0.005%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0584%	1h	0.3483	+0.015%	$2.4M	$1.7M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0795%	1h	0.3487	+0.107%	$847K	$502K	25x	as long as short