Funding you earn now, next payment 23:00 UTC−0.0078%/8h= −8.6% APRpaid last 24h −0.044%
Price spread now: Bybit against Kraken Futures−0.054%7-day average −0.048% · you buy dearer than you sell
Net, funding: paid 7d − costs−$36as in the Funding arb table
Net, price: spread back to 7d avg − costs−$37as in the Price arb table
costs, in and out, $10k−$360.361% of the position
Funding, last 7 days+0.005%$0 on $10k
+Price spread, last 3 days (all we have)+0.059%+$6 · spread now −0.054%, 7d avg −0.048%
=The price spread sits at its 7-day average of −0.048%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Kraken Futures PF_TRXUSD | 0.3442 | 0.0026 | pay 0.0003% / 1h | 16m 23s | $1.9M | $1.0M | 25x |
| Short | Bybit TRXUSDT | 0.3440 | −0.0052 | pay 0.0052% / 8h | 1h 16m | $54.6M | $8.2M | 75x |
Kraken Futures PF_TRXUSD
Bybit TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Kraken Futures. 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
- −$16.41
- Price spread: −0.054% → −0.048%
- −$0.59
- Slippage, 4 orders
- −$15.11
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$53.1
- Costs to cover
- 0.361%
- Break-even
- never at this rate
Slippage from Kraken Futures: live order book, 2 min ago; Bybit: live order book, 3 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 Kraken Futures live order book, 2 min ago | 0.14 bp | 11.2 bp −$11 | 15.9 bp −$159 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 3 min ago | 1.45 bp | 9.5 bp −$10 | 12.6 bp −$126 | 48.8 bp −$4,881 | 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 | 0.3440 | −0.067% | $5 | — | 20x | as long as short |
| Injective TRX/USDC PERP | −0.0120% | 1h | 0.3441 | −0.025% | $1K | $163K | 12x | as long as short |
| Variational Omni TRX | −0.0073% | 8h | 0.3440 | −0.052% | $563K | $39K | — | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | +0.016% | $5K | $13K | 10x | as long as short |
| KuCoin TRXUSDTM | −0.0063% | 8h | 0.3439 | −0.068% | $8.7M | $3.6M | 75x | as long as short |
| Bybit TRXUSDTshort | −0.0052% | 8h | 0.3440 | −0.054% | $54.6M | $8.2M | 75x | |
| Backpack TRX_USDC_PERP | −0.0030% | 1h | 0.3440 | −0.045% | $58K | $4K | 10x | as long as short |
| HTX TRX-USDT | −0.0018% | 8h | 0.3438 | −0.100% | $825K | $719K | 75x | as long as short |
| OKX TRX-USDT-SWAP | −0.0001% | 8h | 0.3440 | −0.054% | $15.6M | $8.8M | 50x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3442 | +0.016% | $181K | $10K | 10x | as long as short |
Reya TRXRUSDPERP
Injective TRX/USDC PERP
Variational Omni TRX
Phoenix TRX
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
HTX TRX-USDT
OKX TRX-USDT-SWAP
dYdX TRX-USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3442 | +0.012% | $121K | — | 150x | as long as short |
| Aster TRXUSDT | +0.0013% | 8h | 0.3441 | −0.022% | $957K | $658K | 75x | as long as short |
| Lighter TRX | +0.0016% | 1h | 0.3440 | −0.048% | $482K | $637K | 10x | as long as short |
| Extended TRX-USD | +0.0016% | 1h | 0.3439 | −0.074% | $196K | $1.1M | 25x | as long as short |
| Binance TRXUSDT | +0.0018% | 8h | 0.3440 | −0.044% | $99.3M | $48.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0018% | 8h | 0.3441 | −0.039% | $18.2M | $1.7M | 200x | as long as short |
| Kraken Futures PF_TRXUSDlong | +0.0026% | 1h | 0.3442 | long leg | $1.9M | $1.0M | 25x | |
| SoDEX TRX-USD | +0.0035% | 1h | 0.3440 | −0.051% | $402 | $5K | 5x | as long as short |
| Paradex TRX-USD-PERP | +0.0049% | 8h | 0.3440 | −0.055% | $9K | $385 | 20x | as long as short |
| BloFin TRX-USDT | +0.0075% | 8h | 0.3440 | −0.051% | $4.6M | $4.0M | 50x | as long as short |
| Phemex TRXUSDT | +0.0080% | 8h | 0.3441 | −0.013% | $3.8M | $1.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0087% | 8h | 0.3440 | −0.054% | $9.6M | $2.5M | 75x | as long as short |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3439 | −0.089% | $33K | — | 3x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3441 | −0.022% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3442 | +0.013% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3440 | −0.057% | $9.4M | $2.0M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3440 | −0.042% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3441 | −0.024% | $587K | $432K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3442 | −0.005% | $115K | $548K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3442 | −0.006% | $196K | $919K | 30x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0351% | 1h | 0.3444 | +0.069% | $832K | $411K | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3442 | −0.003% | $20K | — | 100x | as long as short |
gTrade (Gains Network) TRX/USD
Aster TRXUSDT
Lighter TRX
Extended TRX-USD
Binance TRXUSDT
MEXC TRX_USDT
SoDEX TRX-USD
Paradex TRX-USD-PERP
BloFin TRX-USDT
Phemex TRXUSDT
Gate TRX_USDT
Aevo TRX-PERP
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
Deribit TRX_USDC-PERPETUAL
GMX TRX/USD [ETH-USDC]