Spread before costs (cost unknown: a leg has no order-book sample)−0.043%
7d average—if it closes, per $10,000$4funding while held, a day−$5.78
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Hyperliquid TRX | 0.3450 | 0.0100 | pay 0.0013% / 1h | 9m 17s | $13.2M | $2.2M | 10x |
| Short | Phoenix TRX | 0.3449 | −0.0093 | pay 0.0012% / 1h | 9m 17s | $5K | $5K | 10x |
Hyperliquid TRX
Phoenix TRXPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- −$4.35
- Funding while held
- −$5.78
- Slippage, 4 orders
- no order book: not counted
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Net
- −$26.13
- Spread needed to break even
- 0.160%
Slippage unknown: Hyperliquid: live order book, 5 min ago; Phoenix: no order-book sample. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- −0.0193%
- Per $10,000 a day
- −$5.78
- Average in range /8h
- —
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, 5 min ago | 0.14 bp | 5.9 bp −$6 | doesn't fit | doesn't fit | doesn't fit |
| Sell Phoenix no order-book sample | — | — | — | — | — |
Phoenix: 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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.3428cheapestVariational Omni0.3446+0.518%SunX0.3446+0.530%edgeX0.3446+0.534%ApeX Omni0.3447+0.540%Backpack0.3447+0.548%Paradex0.3448+0.569%Aevo0.3448+0.577%Aster0.3448+0.583%Reya0.3448+0.592%HTX0.3449+0.598%
Injective
Variational Omni
SunX
ApeX Omni
Backpack
Paradex
Aevo
Aster
Reya
HTXPhoenix0.3449+0.607%
Extended0.3449+0.608%Orderly0.3449+0.618%BingX0.3449+0.621%dYdX0.3449+0.623%Phemex0.3449+0.627%Gate0.3450+0.630%MEXC0.3450+0.630%SoDEX0.3450+0.633%BloFin0.3450+0.636%Binance0.3450+0.638%Bybit0.3450+0.642%OKX0.3450+0.642%GMX0.3450+0.644%
Extended
Orderly
BingX
dYdX
Phemex
Gate
MEXC
SoDEX
BloFin
Binance
Bybit
OKX
GMXHyperliquid0.3450+0.651%
KuCoin0.3450+0.651%Bitget0.3451+0.662%gTrade (Gains Network)0.3451+0.666%Lighter0.3451+0.683%Kraken Futures0.3452+0.698%Deribit0.3452+0.702%
KuCoin
Bitget
gTrade (Gains Network)
Lighter
Kraken Futures
DeribitTRX on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.646% | +0.0033% | 1h | $1K | $124K | 12x | as long as short |
| Variational Omni TRX | −0.132% | +0.0089% | 8h | $559K | $35K | — | as long as short |
| SunX TRX-USDT | −0.119% | +0.0100% | 8h | $196K | $887K | 30x | as long as short |
| edgeX TRXUSDC | −0.116% | +0.0100% | 4h | $588K | $452K | 20x | as long as short |
| ApeX Omni TRXUSDT | −0.110% | +0.0100% | 1h | $115K | $544K | 50x | as long as short |
| Backpack TRX_USDC_PERP | −0.101% | −0.0180% | 1h | $60K | $4K | 10x | as long as short |
| Paradex TRX-USD-PERP | −0.081% | +0.0094% | 8h | $8K | $333 | 20x | as long as short |
| Aevo TRX-PERP | −0.073% | +0.0080% | 1h | $33K | — | 3x | as long as short |
| Aster TRXUSDT | −0.067% | −0.0260% | 8h | $1.1M | $433K | 75x | as long as short |
| Reya TRXRUSDPERP | −0.058% | −0.0133% | 1h | $5 | — | 20x | as long as short |
Show all 32 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| HTX TRX-USDT | −0.052% | −0.0343% | 8h | $863K | $549K | 75x | as long as short |
| Phoenix TRXshort | −0.043% | −0.0093% | 1h | $5K | $5K | 10x | |
| Extended TRX-USD | −0.042% | −0.0016% | 1h | $195K | $1.1M | 25x | as long as short |
| Orderly PERP_TRX_USDC | −0.032% | +0.0076% | 8h | $15K | $200K | 20x | as long as short |
| BingX TRX-USDC | −0.029% | −0.0020% | 8h | — | $6.5M | — | as long as short |
| dYdX TRX-USD | −0.028% | +0.0227% | 1h | $187K | $3K | 10x | as long as short |
| Phemex TRXUSDT | −0.023% | +0.0020% | 8h | $3.7M | $1.5M | 50x | as long as short |
| Gate TRX_USDT | −0.020% | −0.0015% | 8h | $9.7M | $2.4M | 75x | as long as short |
| MEXC TRX_USDT | −0.020% | −0.0017% | 8h | $17.5M | $1.8M | 200x | as long as short |
| SoDEX TRX-USD | −0.017% | −0.0034% | 1h | $408 | $5K | 5x | as long as short |
| BloFin TRX-USDT | −0.014% | +0.0103% | 8h | $4.7M | $3.7M | 50x | as long as short |
| Binance TRXUSDT | −0.012% | −0.0017% | 8h | $100.3M | $49.3M | 75x | as long as short |
| Bybit TRXUSDT | −0.009% | +0.0070% | 8h | $54.8M | $7.7M | 75x | as long as short |
| OKX TRX-USDT-SWAP | −0.009% | −0.0009% | 8h | $15.5M | $9.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | −0.006% | L +0.0340% / S −0.0344% | 1h | $18K | — | 100x | as long as short |
| Hyperliquid TRXlong | 0.000% | +0.0100% | 1h | $13.2M | $2.2M | 10x | |
| KuCoin TRXUSDTM | 0.000% | +0.0100% | 8h | $8.2M | $3.2M | 75x | as long as short |
| Bitget TRXUSDT | +0.012% | +0.0100% | 8h | $9.5M | $2.0M | 75x | as long as short |
| gTrade (Gains Network) TRX/USD | +0.015% | L +0.0003% / S −0.0006% | 1h | $122K | — | 150x | as long as short |
| Lighter TRX | +0.032% | +0.0096% | 1h | $518K | $504K | 10x | as long as short |
| Kraken Futures PF_TRXUSD | +0.047% | +0.0191% | 1h | $1.8M | $800K | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.051% | +0.0011% | 1h | $791K | $357K | 25x | as long as short |