data as of
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Price arb /

TRX

all TRX markets
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Checked every minute; it has to hold two checks in a row. Delivery to Telegram comes later, so for now alerts appear on the alerts page.

After costs, if the gap returns to its 7d average, $10k−$28
spread now−0.005%7d average−0.014%fees + slippage, in and out−$29spread needed0.287%
Long on HyperliquidShort on Kraken Futures
LegExchangePriceFunding /8hEach paymentNext inOIVol 24hMax lev
LongHyperliquid TRX0.34520.0100pay 0.0013% / 1h4m 22s$13.3M$2.2M10x
ShortKraken Futures PF_TRXUSD0.34520.0191get 0.0024% / 1h4m 22s$1.8M$799K25x

Price spread history

latest
Range statsloading…

How often the spread is this wide

share of time at each level, last 7D

Backtest

opened in the past, held until now, after costs
Backtest 7 daysBacktest 30 daysBacktest 90 daysopens the backtester with this pair and $10,000 a leg

Profit calculator

Spread captured
−$0.46
Funding while held
$2.73
Slippage, 4 orders
−$9.75
Fee Hyperliquid: 4.5 bp × 2 orders
−$9
Fee Kraken Futures: 5 bp × 2 orders
−$10
Net
−$26.47
Spread needed to break even
0.287%
Slippage from Hyperliquid: live order book, 10 min ago; Kraken Futures: live order book, 1 min ago.

Cost of waiting

funding view
Funding /8h
+0.0091%
Per $10,000 a day
+$2.73
Average in range /8h
—

Cost to enter

taker fee + slippage from the mid, one side; closing costs about the same again
LegHalf-spread$10k$100k$1M$5M
Buy Hyperliquid live order book, 10 min ago0.14 bp5.9 bp −$6doesn't fitdoesn't fitdoesn't fit
Sell Kraken Futures live order book, 1 min ago1.88 bp8.4 bp −$815.9 bp −$159doesn't fitdoesn't fit

TRX price on every exchange

against the cheapest. Click to use as the short leg.
Injective0.3428cheapestSunX0.3448+0.576%Aevo0.3448+0.577%edgeX0.3448+0.579%Variational Omni0.3449+0.609%Extended0.3449+0.612%Paradex0.3449+0.625%HTX0.3449+0.627%Backpack0.3450+0.630%Bybit0.3450+0.633%OKX0.3450+0.633%Aster0.3450+0.636%Orderly0.3450+0.636%Reya0.3450+0.636%BingX0.3450+0.639%BloFin0.3450+0.639%MEXC0.3450+0.645%SoDEX0.3450+0.645%Binance0.3450+0.647%ApeX Omni0.3450+0.648%Phemex0.3450+0.651%Lighter0.3450+0.653%Gate0.3451+0.662%Phoenix0.3451+0.662%Bitget0.3451+0.665%GMX0.3451+0.669%gTrade (Gains Network)0.3451+0.673%dYdX0.3451+0.681%
Kraken Futures0.3452+0.696%
Hyperliquid0.3452+0.700%
KuCoin0.3452+0.703%Deribit0.3453+0.718%

TRX on 32 venues

cheapest first. Swap a leg.
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
Injective TRX/USDC PERP−0.695%+0.0033%1h$1K$124K12xas long as short
SunX TRX-USDT−0.123%+0.0100%8h$196K$876K30xas long as short
Aevo TRX-PERP−0.122%+0.0080%1h$33K—3xas long as short
edgeX TRXUSDC−0.120%+0.0100%4h$588K$453K20xas long as short
Variational Omni TRX−0.091%+0.0093%8h$560K$35K—as long as short
Extended TRX-USD−0.087%−0.0016%1h$195K$1.1M25xas long as short
Paradex TRX-USD-PERP−0.075%+0.0095%8h$8K$33320xas long as short
HTX TRX-USDT−0.072%−0.0341%8h$863K$534K75xas long as short
Backpack TRX_USDC_PERP−0.070%−0.0169%1h$60K$4K10xas long as short
Bybit TRXUSDT−0.067%+0.0070%8h$54.8M$7.5M75xas long as short
Show all 32 venues
Exchangevs long legFunding /8hEveryOIVol 24hMax lev
OKX TRX-USDT-SWAP−0.067%−0.0007%8h$15.5M$8.9M50xas long as short
Aster TRXUSDT−0.064%−0.0259%8h$1.1M$539K75xas long as short
Orderly PERP_TRX_USDC−0.064%+0.0076%8h$15K$200K20xas long as short
Reya TRXRUSDPERP−0.064%−0.0133%1h$5—20xas long as short
BingX TRX-USDT−0.061%−0.0017%8h—$35.3M—as long as short
BloFin TRX-USDT−0.061%+0.0105%8h$4.7M$3.7M50xas long as short
MEXC TRX_USDT−0.055%−0.0015%8h$17.6M$1.8M200xas long as short
SoDEX TRX-USD−0.055%−0.0020%1h$412$5K5xas long as short
Binance TRXUSDT−0.053%−0.0015%8h$100.3M$49.3M75xas long as short
ApeX Omni TRXUSDT−0.052%+0.0100%1h$115K$546K50xas long as short
Phemex TRXUSDT−0.049%+0.0024%8h$3.7M$1.5M50xas long as short
Lighter TRX−0.046%+0.0096%1h$446K$612K10xas long as short
Gate TRX_USDT−0.038%−0.0011%8h$9.7M$2.4M75xas long as short
Phoenix TRX−0.038%−0.0093%1h$5K$5K10xas long as short
Bitget TRXUSDT−0.035%+0.0100%8h$9.5M$2.0M75xas long as short
GMX TRX/USD [ETH-USDC]−0.031%L +0.0341% / S −0.0344%1h$18K—100xas long as short
gTrade (Gains Network) TRX/USD−0.027%L +0.0003% / S −0.0006%1h$122K—150xas long as short
dYdX TRX-USD−0.019%+0.0237%1h$187K$3K10xas long as short
Kraken Futures PF_TRXUSDshort−0.005%+0.0191%1h$1.8M$799K25x
Hyperliquid TRXlong0.000%+0.0100%1h$13.3M$2.2M10x
KuCoin TRXUSDTM+0.003%+0.0100%8h$8.2M$3.2M75xas long as short
Deribit TRX_USDC-PERPETUAL+0.018%+0.0034%1h$791K$357K25xas long as short