Funding you earn now, next payment 11:00 UTC+0.0485%/8h= +53.1% APRpaid last 24h +0.097%
Price spread now: Kraken Futures against HTX+0.008%7-day average +0.067% · you sell dearer than you buy
Net, funding: paid 7d − costs−$9as in the Funding arb table
Net, price: spread back to 7d avg − costs−$46as in the Price arb table
costs, in and out, $10k−$410.405% of the position
Funding, last 7 days+0.318%+$32 on $10k
+Price spread, last 4 days (all we have)+0.034%+$3 · spread now +0.008%, 7d avg +0.067%
=Funding pays, the price is against you. Kraken Futures is 0.059% cheaper against HTX than usual: you would sell low and buy high (spread +0.008% now, against its 7-day average of +0.067%). If the spread goes back, that is −$6 on $10k: about 10 hours of funding at the current rate (+$15 a day). At the pace of the last 7 days (+0.318% in total) that is about 31 hours.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.318% in total (about 16.6% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | HTX TRX-USDT | 0.3478 | −0.0217 | get 0.0217% / 8h | 5h 54m | $832K | $884K | 75x |
| Short | Kraken Futures PF_TRXUSD | 0.3478 | 0.0269 | get 0.0034% / 1h | 54m 54s | $2.4M | $1.8M | 25x |
HTX TRX-USDT
Kraken Futures PF_TRXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against HTX. 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
- $101.9
- Price spread: +0.008% → +0.067%
- −$5.87
- Slippage, 4 orders
- −$18.55
- Fee HTX: 6 bp × 2 orders
- −$12
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $55.49
- Costs to cover
- 0.405%
- Break-even
- 3.2 days
Slippage from HTX: live order book, 56 min ago; Kraken Futures: live order book, 2 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 HTX live order book, 56 min ago | 2.26 bp | 13.1 bp −$13 | 16.7 bp −$167 | doesn't fit | doesn't fit |
| Sell Kraken Futures live order book, 2 min ago | 3.88 bp | 10.3 bp −$10 | 16.7 bp −$167 | doesn't fit | doesn't fit |
TRX on 32 exchanges
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 | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | −0.0318% | 8h | 0.3475 | −0.082% | $963K | $929K | 75x | as long as short |
| HTX TRX-USDTlong | −0.0217% | 8h | 0.3478 | long leg | $832K | $884K | 75x | |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3477 | −0.032% | $5 | — | 20x | as long as short |
| Backpack TRX_USDC_PERP | −0.0069% | 1h | 0.3478 | −0.011% | $57K | $8K | 10x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3482 | +0.110% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3479 | +0.032% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3481 | +0.078% | $137K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.066% | $1K | $163K | 12x | as long as short |
| SoDEX TRX-USD | +0.0047% | 1h | 0.3478 | −0.011% | $405 | $5K | 5x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3478 | +0.006% | — | $6.5M | — | as long as short |
Aster TRXUSDT
Reya TRXRUSDPERP
Backpack TRX_USDC_PERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
SoDEX TRX-USD
BingX TRX-USDCShow all 32 exchanges
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Lighter TRX | +0.0096% | 1h | 0.3478 | +0.003% | $482K | $656K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0098% | 8h | 0.3478 | −0.004% | $9K | $52 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3478 | −0.003% | $14K | $71K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3482 | +0.115% | $14.3M | $2.8M | 10x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3478 | −0.014% | $106.8M | $64.0M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3478 | −0.003% | $53.4M | $13.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3478 | −0.005% | $15.4M | $11.4M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3478 | 0.000% | $9.6M | $3.2M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3478 | −0.003% | $19.1M | $2.3M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3478 | +0.009% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3477 | −0.046% | $9.7M | $4.4M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3478 | −0.014% | $576K | $28K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3480 | +0.048% | $593K | $502K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3483 | +0.135% | $117K | $619K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3477 | −0.042% | $198K | $1.3M | 30x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3479 | +0.026% | $3.9M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3476 | −0.048% | $211K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3476 | −0.048% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3480 | +0.049% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0269% | 1h | 0.3478 | +0.008% | $2.4M | $1.8M | 25x | |
| GMX TRX/USD [ETH-USDC] | L +0.0408% / S −0.0492% | 1h | 0.3479 | +0.033% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0420% | 1h | 0.3482 | +0.109% | $805K | $723K | 25x | as long as short |
Lighter TRX
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL