Funding you earn now, next payment 00:00 UTC−0.0100%/8h= −10.9% APRnext payment −$0.13 per $10,000 · paid last 24h +0.024%
Price spread now: dYdX against Hyperliquid−0.059%55s7-day average −0.011% · you buy dearer than you sell
Net, funding: paid 7d − costs−$162as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$2062.060% of the position
Funding, last 7 days+0.439%+$44 on $10k
+Price spread, last 4 days (all we have)+0.041%+$4 · spread now −0.059%, 7d avg −0.011%
=Together, before fees+0.481%+ Points / potential airdropHyperliquid: Season 2 · farm board+$48 on $10k · with fees, hour by hour
Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and dYdX is 0.047% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.011%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.439%, so the current rate has only just turned against you. The two prices were read 55 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 | Hyperliquid TRX | 0.3444 | 0.0100 | pay 0.0013% / 1h | 51m 44s | $13.2M | $2.2M | 10x |
| Short | dYdX TRX-USD | 0.3442 | 0 | get 0.0000% / 1h | 51m 44s | $181K | $10K | 10x |
Hyperliquid TRX
dYdX TRX-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
dYdX against Hyperliquid. 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
- −$21
- Price spread: −0.059% → −0.011%
- −$4.71
- Slippage, 4 orders
- −$186.96
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee dYdX: 5 bp × 2 orders
- −$10
- Net
- −$231.67
- Costs to cover
- 2.060%
- Break-even
- never at this rate
Slippage from Hyperliquid: live order book, 11 min ago; dYdX: live order book, 27 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 Hyperliquid live order book, 11 min ago | 0.14 bp | 5.0 bp −$5 | doesn't fit | doesn't fit | doesn't fit |
| Sell dYdX live order book, 27 min ago | 60.16 bp | 69.8 bp −$70 | 124.3 bp −$1,243 | 153.7 bp −$15.4K | 394.6 bp −$197.3K |
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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.102% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | −0.0141% | 1h | 0.3442 | −0.064% | $58K | $4K | 10x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3442 | −0.065% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3442 | −0.070% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.073% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0060% | 8h | 0.3440 | −0.130% | $563K | $38K | — | as long as short |
| Bybit TRXUSDT | −0.0038% | 8h | 0.3443 | −0.044% | $54.6M | $8.1M | 75x | as long as short |
| HTX TRX-USDT | −0.0028% | 8h | 0.3442 | −0.085% | $826K | $723K | 75x | as long as short |
| dYdX TRX-USDshort | 0.0000% | 1h | 0.3442 | −0.059% | $181K | $10K | 10x | |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | −0.021% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Variational Omni TRX
Bybit TRXUSDT
HTX TRX-USDT
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0004% | 8h | 0.3443 | −0.052% | $15.6M | $8.7M | 50x | as long as short |
| MEXC TRX_USDT | +0.0021% | 8h | 0.3443 | −0.049% | $18.1M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0023% | 8h | 0.3443 | −0.044% | $99.3M | $47.9M | 75x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3442 | −0.072% | $196K | $1.1M | 25x | as long as short |
| Aster TRXUSDT | +0.0031% | 8h | 0.3443 | −0.039% | $956K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0052% | 8h | 0.3442 | −0.068% | $9K | $385 | 20x | as long as short |
| Lighter TRX | +0.0056% | 1h | 0.3442 | −0.061% | $482K | $630K | 10x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3444 | −0.016% | $1.9M | $1.0M | 25x | as long as short |
| Phemex TRXUSDT | +0.0077% | 8h | 0.3443 | −0.049% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0087% | 8h | 0.3443 | −0.049% | $9.6M | $2.5M | 75x | as long as short |
| BloFin TRX-USDT | +0.0087% | 8h | 0.3443 | −0.049% | $4.6M | $4.0M | 50x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.103% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3443 | −0.058% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRXlong | +0.0100% | 1h | 0.3444 | long leg | $13.2M | $2.2M | 10x | |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | −0.044% | $9.5M | $2.1M | 75x | as long as short |
| BingX TRX-USDT | +0.0100% | 8h | 0.3443 | −0.052% | — | $40.0M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3442 | −0.078% | $587K | $430K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3440 | −0.128% | $115K | $556K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3445 | +0.008% | $196K | $918K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3443 | −0.049% | $404 | $5K | 5x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3443 | −0.039% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0456% | 1h | 0.3446 | +0.054% | $829K | $414K | 25x | as long as short |
OKX TRX-USDT-SWAP
MEXC TRX_USDT
Binance TRXUSDT
Extended TRX-USD
Aster TRXUSDT
Paradex TRX-USD-PERP
Lighter TRX
Kraken Futures PF_TRXUSD
Phemex TRXUSDT
Gate TRX_USDT
BloFin TRX-USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Bitget TRXUSDT
BingX TRX-USDT
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL