Funding arb · Price arb /

TRX

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h −0.009%

Price spread now: Backpack against KuCoin+0.003%7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on KuCoin Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days−0.159%−$16 on $10k

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: +$1 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.159%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRXUSDTM	0.3441	−0.0050	get 0.0050% / 8h	1h 25m	$8.7M	$3.6M	75x
Short	Backpack TRX_USDC_PERP	0.3441	−0.0013	pay 0.0002% / 1h	25m 30s	$58K	$4K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against KuCoin. 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 KuCoinbpFee BackpackbpOrdersPrice spread, now +0.003%Rate

Funding earned: $7.7
Price spread: +0.003% → 0.000%: $0.29
Slippage, 4 orders: no order book: not counted
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$14.01
Costs to cover: 0.220%
Break-even: 19.7 days

Slippage unknown: KuCoin: live order book, 3 min ago; Backpack: 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 KuCoin live order book, 3 min ago	0.14 bp	13.3 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Backpack no order-book sample	—	—	—	—	—

Backpack: 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	0.3441	+0.003%	$5	—	20x	as long as short
Injective TRX/USDC PERP	−0.0120%	1h	0.3441	+0.009%	$1K	$163K	12x	as long as short
Variational Omni TRX	−0.0082%	8h	0.3439	−0.047%	$562K	$39K	—	as long as short
Phoenix TRX	−0.0070%	1h	0.3441	+0.020%	$5K	$13K	10x	as long as short
Bybit TRXUSDT	−0.0062%	8h	0.3441	+0.009%	$54.7M	$8.2M	75x	as long as short
KuCoin TRXUSDTMlong	−0.0050%	8h	0.3441	long leg	$8.7M	$3.6M	75x
HTX TRX-USDT	−0.0020%	8h	0.3441	+0.011%	$826K	$718K	75x	as long as short
Backpack TRX_USDC_PERPshort	−0.0013%	1h	0.3441	+0.003%	$58K	$4K	10x
dYdX TRX-USD	0.0000%	1h	0.3442	+0.050%	$181K	$10K	10x	as long as short
OKX TRX-USDT-SWAP	0.0000%	8h	0.3441	+0.012%	$15.6M	$8.8M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster TRXUSDT	+0.0001%	8h	0.3442	+0.024%	$957K	$658K	75x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3443	+0.059%	$121K	—	150x	as long as short
MEXC TRX_USDT	+0.0013%	8h	0.3442	+0.023%	$18.2M	$1.7M	200x	as long as short
SoDEX TRX-USD	+0.0014%	1h	0.3442	+0.023%	$400	$5K	5x	as long as short
Binance TRXUSDT	+0.0014%	8h	0.3442	+0.026%	$99.3M	$48.3M	75x	as long as short
Lighter TRX	+0.0016%	1h	0.3441	+0.006%	$482K	$637K	10x	as long as short
Extended TRX-USD	+0.0016%	1h	0.3441	−0.002%	$196K	$1.1M	25x	as long as short
Kraken Futures PF_TRXUSD	+0.0026%	1h	0.3443	+0.061%	$1.9M	$1.0M	25x	as long as short
BloFin TRX-USDT	+0.0049%	8h	0.3440	−0.017%	$4.6M	$4.0M	50x	as long as short
Paradex TRX-USD-PERP	+0.0050%	8h	0.3441	+0.005%	$9K	$385	20x	as long as short
Phemex TRXUSDT	+0.0072%	8h	0.3442	+0.023%	$3.8M	$1.6M	50x	as long as short
Aevo TRX-PERP	+0.0088%	1h	0.3440	−0.026%	$33K	—	3x	as long as short
Gate TRX_USDT	+0.0089%	8h	0.3441	+0.012%	$9.6M	$2.5M	75x	as long as short
Orderly PERP_TRX_USDC	+0.0090%	8h	0.3441	+0.020%	$14K	$107K	20x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3443	+0.073%	$13.2M	$2.2M	10x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3442	+0.026%	$9.4M	$2.0M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3441	+0.017%	—	$6.5M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3440	−0.029%	$587K	$430K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3441	+0.020%	$115K	$548K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3443	+0.059%	$196K	$918K	30x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0238%	1h	0.3445	+0.112%	$832K	$411K	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0366% / S −0.0395%	1h	0.3442	+0.047%	$20K	—	100x	as long as short