Funding you earn now, next payment 07:00 UTC+0.0958%/8h= +104.9% APRnext payment +$1.20 per $10,000 · paid last 24h +0.107%
Price spread now: Deribit against Injective+1.495%7-day average +0.344% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.024%+$2 on $10k
+Price spread, last 4 days (all we have)−1.445%−$144 · spread now +1.495%, 7d avg +0.344%
=Both sides work for this trade now. Funding pays +$29 a day on $10k at the current rate, and Deribit is 1.151% dearer against Injective than usual: you sell high and buy low: +$115 more if the spread goes back to its 7-day average of +0.344%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.024% in total (about 1.2% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.20 per $10,000. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Injective TRX/USDC PERP | 0.3441 | 0.0033 | pay 0.0004% / 1h | 30m 41s | $1K | $163K | 12x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3492 | 0.0991 | get 0.0124% / 1h | 30m 41s | $906K | $684K | 25x |
Injective TRX/USDC PERP
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against Injective. 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
- $201.19
- Price spread: +1.495% → +0.344%
- $115.09
- Slippage, 4 orders
- no order book: not counted
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $309.26
- Costs to cover
- 0.070%
- Break-even
- from the start
Slippage unknown: Injective: no order-book sample; Deribit: live order book, 13 min ago. Net counts fees only.
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 Injective no order-book sample | — | — | — | — | — |
| Sell Deribit live order book, 13 min ago | 0.14 bp | 7.0 bp −$7 | 24.7 bp −$247 | doesn't fit | doesn't fit |
Injective: 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 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 | 0.3487 | +1.338% | $5 | — | 20x | as long as short |
| HTX TRX-USDT | −0.0026% | 8h | 0.3484 | +1.257% | $833K | $939K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3489 | +1.384% | $183K | $12K | 10x | as long as short |
| Phoenix TRX | 0.0000% | 1h | 0.3491 | +1.441% | $5K | $14K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3488 | +1.370% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERPlong | +0.0033% | 1h | 0.3441 | long leg | $1K | $163K | 12x | |
| BingX TRX-USDC | +0.0070% | 8h | 0.3488 | +1.363% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3487 | +1.346% | $487K | $670K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3487 | +1.338% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3488 | +1.357% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
HTX TRX-USDT
dYdX TRX-USD
Phoenix TRX
gTrade (Gains Network) TRX/USD
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 TRX | +0.0100% | 1h | 0.3491 | +1.439% | $13.3M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3487 | +1.348% | $966K | $701K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3488 | +1.362% | $107.3M | $62.5M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3488 | +1.366% | $53.6M | $12.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3488 | +1.363% | $15.5M | $10.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3488 | +1.360% | $9.7M | $3.2M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3488 | +1.366% | $19.6M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3488 | +1.363% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3487 | +1.331% | $9.8M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3487 | +1.340% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3487 | +1.334% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3488 | +1.379% | $595K | $462K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3490 | +1.412% | $116K | $583K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3486 | +1.316% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3488 | +1.357% | $414 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3488 | +1.351% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3487 | +1.329% | $205K | $593K | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3486 | +1.308% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3489 | +1.401% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0252% | 1h | 0.3488 | +1.375% | $2.4M | $1.8M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3488 | +1.361% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0991% | 1h | 0.3492 | +1.495% | $906K | $684K | 25x |
Hyperliquid TRX
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
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]