Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0311%/8h= −34.1% APRpaid last 24h −0.076%

Price spread now: Paradex against GMX−0.031%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Paradex

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 airdropParadex: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Paradex is 0.031% cheaper against GMX than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX TRX/USD [ETH-USDC]	0.3486	L +0.0410% / S −0.0492%	pay 0.0051% / 1h	0m 24s	$20K	—	100x
Short	Paradex TRX-USD-PERP	0.3485	0.0099	get 0.0099% / 8h	1h 00m	$9K	$251	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Paradex against GMX. 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 GMXbpFee ParadexbpOrdersPrice spread, now −0.031%Rate

Funding earned: −$65.38
Price spread: −0.031% → 0.000%: −$3.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Paradex: 2 bp × 2 orders: −$4
Net: −$84.5
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; Paradex: 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 GMX no order-book sample	—	—	—	—	—
Sell Paradex no order-book sample	—	—	—	—	—

GMX and Paradex: 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	−0.036%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0069%	8h	0.3482	−0.124%	$833K	$943K	75x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	−0.001%	$183K	$12K	10x	as long as short
Phoenix TRX	0.0000%	1h	0.3487	+0.026%	$5K	$14K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3486	−0.010%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.302%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3486	−0.012%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3486	−0.023%	$487K	$671K	10x	as long as short
Paradex TRX-USD-PERPshort	+0.0099%	8h	0.3485	−0.031%	$9K	$251	20x
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3486	−0.020%	$14K	$60K	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	+0.100%	$13.3M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3484	−0.076%	$967K	$712K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3486	0.000%	$107.4M	$62.5M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3486	−0.012%	$53.6M	$12.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3486	−0.006%	$15.6M	$10.6M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3486	−0.012%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3486	0.000%	$19.6M	$2.2M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3487	+0.017%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3486	−0.015%	$9.8M	$4.3M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3485	−0.038%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3485	−0.044%	$570K	$33K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3488	+0.048%	$595K	$461K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3488	+0.060%	$116K	$588K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3485	−0.048%	$198K	$1.3M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3486	−0.012%	$413	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3486	0.000%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3485	−0.053%	$207K	$675K	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3484	−0.064%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3487	+0.017%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0252%	1h	0.3486	−0.010%	$2.4M	$1.8M	25x	as long as short
GMX TRX/USD [ETH-USDC]long	L +0.0410% / S −0.0492%	1h	0.3486	long leg	$20K	—	100x
Deribit TRX_USDC-PERPETUAL	+0.0983%	1h	0.3491	+0.131%	$908K	$688K	25x	as long as short