Funding you earn now, next payment 06:00 UTC−0.0382%/8h= −41.8% APRnext payment −$0.48 per $10,000 · paid last 24h −0.051%
Price spread now: Injective against Kraken Futures−1.300%7-day average −0.287% · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.214%+$21 on $10k
+Price spread, last 4 days (all we have)+1.277%+$128 · spread now −1.300%, 7d avg −0.287%
=Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Injective is 1.014% cheaper against Kraken Futures than usual: you would sell low and buy high (−$101 if the spread goes back to its 7-day average of −0.287%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.214%, so the current rate has only just turned against you.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.214% in total (about 11.2% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.48 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 | Kraken Futures PF_TRXUSD | 0.3486 | 0.0415 | pay 0.0052% / 1h | 30m 35s | $2.4M | $1.8M | 25x |
| Short | Injective TRX/USDC PERP | 0.3441 | 0.0033 | get 0.0004% / 1h | 30m 35s | $1K | $163K | 12x |
Kraken Futures PF_TRXUSD
Injective TRX/USDC PERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Injective 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
- −$80.18
- Price spread: −1.300% → −0.287%
- −$101.36
- Slippage, 4 orders
- no order book: not counted
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Fee Injective: 0.01 bp × 2 orders
- −$0.02
- Net
- −$191.56
- Costs to cover
- 0.100%
- Break-even
- never at this rate
Slippage unknown: Kraken Futures: live order book, 3 min ago; Injective: no order-book sample. 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 Kraken Futures live order book, 3 min ago | 3.30 bp | 10.0 bp −$10 | 18.9 bp −$189 | doesn't fit | doesn't fit |
| Sell Injective no order-book sample | — | — | — | — | — |
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 | 0.3484 | −0.058% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3486 | −0.004% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3485 | −0.047% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3486 | −0.020% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERPshort | +0.0033% | 1h | 0.3441 | −1.300% | $1K | $163K | 12x | |
| HTX TRX-USDT | +0.0043% | 8h | 0.3482 | −0.114% | $832K | $921K | 75x | as long as short |
| BingX TRX-USDT | +0.0070% | 8h | 0.3486 | −0.024% | — | $32.8M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3486 | −0.012% | $487K | $671K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3485 | −0.029% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3485 | −0.041% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
HTX TRX-USDT
BingX TRX-USDT
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 | 0.3489 | +0.077% | $13.2M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3486 | −0.015% | $966K | $700K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3486 | −0.015% | $107.1M | $62.3M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3485 | −0.030% | $54.0M | $12.0M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3486 | −0.018% | $15.5M | $10.4M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3486 | −0.009% | $9.7M | $3.1M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3486 | −0.015% | $18.9M | $2.2M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3486 | −0.018% | $8.5M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3485 | −0.035% | $9.9M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3485 | −0.050% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3484 | −0.068% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3484 | −0.074% | $594K | $477K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3483 | −0.081% | $116K | $582K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3483 | −0.087% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3485 | −0.032% | $413 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3485 | −0.030% | $4.0M | $1.9M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3484 | −0.058% | $195K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3484 | −0.078% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3485 | −0.032% | $4.7M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3485 | −0.028% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSDlong | +0.0415% | 1h | 0.3486 | long leg | $2.4M | $1.8M | 25x | |
| Deribit TRX_USDC-PERPETUAL | +0.0817% | 1h | 0.3490 | +0.095% | $904K | $657K | 25x | as long as short |
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
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL