Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0196%/8h= −21.4% APRpaid last 24h −0.026%

Price spread now: edgeX against Kraken Futures−0.053%76s7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$20as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$300.304% of the position

Long on Kraken Futures Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.100%+$10 on $10k

Price spread, last 4 days (all we have)+0.056%+$6 · spread now −0.053%, 7d avg −0.051%

Together, before fees+0.156%+ Points / potential airdropedgeX: Active · farm board+$16 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.051%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.100%, so the current rate has only just turned against you. The two prices were read 76 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.100% in total (about 5.2% a year). A funding rate is set anew for every payment. 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	Kraken Futures PF_TRXUSD	0.3482	0.0296	pay 0.0037% / 1h	37m 40s	$2.4M	$1.9M	25x
Short	edgeX TRXUSDC	0.3480	0.0100	get 0.0050% / 4h	37m 40s	$593K	$460K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX 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 it

latest

How often the price spread is this wide · share of time at each level, last 7D show

Profit calculator

Position, each leg$Hold fordaysFee Kraken FuturesbpFee edgeXbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$41.1
Price spread: −0.053% → −0.051%: −$0.2
Slippage, 4 orders: −$11.4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: −$71.7
Costs to cover: 0.304%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 6 min ago; edgeX: live order book, 66 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, 6 min ago	3.16 bp	10.5 bp −$10	19.9 bp −$199	doesn't fit	doesn't fit
Sell edgeX live order book, 66 min ago	0.72 bp	5.2 bp −$5	6.5 bp −$65	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	0.3481	−0.044%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0077%	8h	0.3479	−0.087%	$834K	$957K	75x	as long as short
Phoenix TRX	−0.0023%	1h	0.3482	+0.007%	$5K	$13K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3483	+0.036%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3482	+0.001%	$123K	—	150x	as long as short
Backpack TRX_USDC_PERP	+0.0005%	1h	0.3481	−0.036%	$62K	$5K	10x	as long as short
SoDEX TRX-USD	+0.0015%	1h	0.3481	−0.027%	$409	$5K	5x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.179%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3482	−0.013%	—	$6.5M	—	as long as short
Paradex TRX-USD-PERP	+0.0084%	8h	0.3481	−0.019%	$9K	$251	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRX	+0.0096%	1h	0.3481	−0.027%	$487K	$671K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0100%	8h	0.3481	−0.027%	$14K	$61K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3485	+0.082%	$13.3M	$2.8M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3480	−0.059%	$971K	$714K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3482	−0.016%	$106.8M	$63.8M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3482	−0.001%	$53.5M	$12.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3482	−0.001%	$15.7M	$10.8M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3482	−0.016%	$9.6M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3481	−0.019%	$19.2M	$2.3M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3483	+0.030%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3481	−0.024%	$9.8M	$4.3M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3480	−0.064%	$569K	$33K	—	as long as short
edgeX TRXUSDCshort	+0.0100%	4h	0.3480	−0.053%	$593K	$460K	20x
ApeX Omni TRXUSDT	+0.0100%	1h	0.3482	−0.013%	$116K	$596K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3479	−0.076%	$198K	$1.3M	30x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3481	−0.019%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3481	−0.036%	$205K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3479	−0.088%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3482	−0.001%	$4.7M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSDlong	+0.0296%	1h	0.3482	long leg	$2.4M	$1.9M	25x
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0492%	1h	0.3482	+0.001%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0698%	1h	0.3486	+0.107%	$877K	$743K	25x	as long as short