Funding you earn now, next payment 06:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.025%
Price spread now: Extended against Hyperliquid−0.121%7-day average −0.090% · you buy dearer than you sell
Net, funding: paid 7d − costs−$24as in the Funding arb table
Net, price: spread back to 7d avg − costs−$22as in the Price arb table
costs, in and out, $10k−$190.188% of the position
Funding, last 7 days−0.056%−$6 on $10k
+Price spread, last 7 days+0.049%+$5 · spread now −0.121%, 7d avg −0.090%
=Together, before fees−0.007%+ Points / potential airdropHyperliquid: Season 2 · Extended: Active · farm board−$1 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Extended is 0.031% cheaper against Hyperliquid than usual: you would sell low and buy high, −$3 on $10k if it goes back to its 7-day average of −0.090%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TRX | 0.3493 | 0.0100 | pay 0.0013% / 1h | 22m 20s | $13.3M | $2.7M | 10x |
| Short | Extended TRX-USD | 0.3489 | 0.0104 | get 0.0013% / 1h | 22m 20s | $195K | $1.1M | 25x |
Hyperliquid TRX
Extended TRX-USDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Extended 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
- $0.84
- Price spread: −0.121% → −0.090%
- −$3.14
- Slippage, 4 orders
- −$4.79
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Extended: 2.5 bp × 2 orders
- −$5
- Net
- −$21.1
- Costs to cover
- 0.188%
- Break-even
- 182.8 days
Slippage from Hyperliquid: live order book, 10 min ago; Extended: live order book, 1 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, 10 min ago | 0.29 bp | 5.8 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Extended live order book, 1 min ago | 0.14 bp | 3.5 bp −$3 | 9.6 bp −$96 | 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 | 0.3489 | −0.109% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3489 | −0.114% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3490 | −0.081% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3490 | −0.085% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.496% | $1K | $163K | 12x | as long as short |
| HTX TRX-USDT | +0.0036% | 8h | 0.3486 | −0.218% | $833K | $922K | 75x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3490 | −0.096% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3490 | −0.091% | $487K | $671K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3490 | −0.101% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3490 | −0.099% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
HTX TRX-USDT
BingX TRX-USDC
Lighter TRX
Paradex TRX-USD-PERP
Orderly PERP_TRX_USDCShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRXlong | +0.0100% | 1h | 0.3493 | long leg | $13.3M | $2.7M | 10x | |
| Aster TRXUSDT | +0.0100% | 8h | 0.3490 | −0.082% | $968K | $701K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3491 | −0.076% | $107.3M | $62.4M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3490 | −0.094% | $54.0M | $12.2M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3491 | −0.079% | $15.5M | $10.4M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3491 | −0.079% | $9.8M | $3.1M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3490 | −0.085% | $18.9M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3491 | −0.071% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3489 | −0.111% | $9.9M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3488 | −0.137% | $63K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3486 | −0.210% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | −0.207% | $594K | $474K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3488 | −0.154% | $116K | $581K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3488 | −0.159% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3490 | −0.099% | $410 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3490 | −0.099% | $4.0M | $1.9M | 50x | as long as short |
| Extended TRX-USDshort | +0.0104% | 1h | 0.3489 | −0.121% | $195K | $1.1M | 25x | |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3488 | −0.152% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3490 | −0.105% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3490 | −0.099% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0415% | 1h | 0.3491 | −0.069% | $2.4M | $1.8M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0830% | 1h | 0.3494 | +0.017% | $904K | $663K | 25x | as long as short |
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Backpack TRX_USDC_PERP
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
Phemex TRXUSDT
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD
Deribit TRX_USDC-PERPETUAL