Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC−0.0080%/8h= −8.8% APRpaid last 24h +0.074%

Price spread now: dYdX against KuCoin+0.050%7-day average +0.023% · you sell dearer than you buy

Net, funding: paid 7d − costs−$109as in the Funding arb table

Net, price: spread back to 7d avg − costs−$156as in the Price arb table

costs, in and out, $10k−$1591.590% of the position

Long on KuCoin Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.502%+$50 on $10k

Price spread, last 4 days (all we have)−0.043%−$4 · spread now +0.050%, 7d avg +0.023%

Together, before fees+0.458%+$46 on $10k · with fees, hour by hour

The price spread pays, funding is against you. dYdX is 0.027% dearer against KuCoin than usual: you sell high and buy low (spread +0.050% now, against its 7-day average of +0.023%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 27 hours. Mind the row above: over the last 7 days funding on this pair paid +0.502%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRXUSDTM	0.3443	0.0100	pay 0.0100% / 8h	3h 31m	$8.6M	$3.5M	75x
Short	dYdX TRX-USD	0.3445	0.0020	get 0.0002% / 1h	31m 36s	$183K	$6K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.050%Rate

Funding earned: −$16.84
Price spread: +0.050% → +0.023%: $2.68
Slippage, 4 orders: −$137.01
Fee KuCoin: 6 bp × 2 orders: −$12
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$173.18
Costs to cover: 1.590%
Break-even: never at this rate

Slippage from KuCoin: live order book, 2 min ago; dYdX: live order book, 18 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 KuCoin live order book, 2 min ago	0.29 bp	12.8 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell dYdX live order book, 18 min ago	49.56 bp	79.5 bp −$80	134.2 bp −$1,342	259.1 bp −$25.9K	742.7 bp −$371.3K

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	0.3442	−0.031%	$5	—	20x	as long as short
BingX TRX-USDC	−0.0113%	8h	0.3442	−0.020%	—	$6.5M	—	as long as short
Bybit TRXUSDT	−0.0102%	8h	0.3442	−0.032%	$54.7M	$7.6M	75x	as long as short
Variational Omni TRX	−0.0081%	8h	0.3442	−0.045%	$564K	$37K	—	as long as short
Phoenix TRX	−0.0070%	1h	0.3443	0.000%	$5K	$13K	10x	as long as short
Aster TRXUSDT	−0.0051%	8h	0.3443	−0.017%	$952K	$632K	75x	as long as short
Injective TRX/USDC PERP	−0.0048%	1h	0.3442	−0.032%	$1K	$77K	12x	as long as short
HTX TRX-USDT	−0.0028%	8h	0.3443	−0.015%	$829K	$674K	75x	as long as short
Backpack TRX_USDC_PERP	−0.0002%	1h	0.3443	−0.009%	$59K	$5K	10x	as long as short
Extended TRX-USD	0.0000%	1h	0.3442	−0.035%	$196K	$1.1M	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TRX_USDT	0.0000%	8h	0.3443	−0.015%	$17.1M	$1.6M	200x	as long as short
Binance TRXUSDT	+0.0001%	8h	0.3443	−0.010%	$99.4M	$49.4M	75x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3444	+0.033%	$121K	—	150x	as long as short
OKX TRX-USDT-SWAP	+0.0005%	8h	0.3442	−0.023%	$15.6M	$8.6M	50x	as long as short
Lighter TRX	+0.0008%	1h	0.3443	−0.017%	$484K	$624K	10x	as long as short
SoDEX TRX-USD	+0.0009%	1h	0.3443	−0.015%	$402	$5K	5x	as long as short
dYdX TRX-USDshort	+0.0020%	1h	0.3445	+0.050%	$183K	$6K	10x
Paradex TRX-USD-PERP	+0.0038%	8h	0.3443	−0.015%	$9K	$384	20x	as long as short
BloFin TRX-USDT	+0.0057%	8h	0.3441	−0.049%	$4.6M	$4.0M	50x	as long as short
Bitget TRXUSDT	+0.0067%	8h	0.3442	−0.029%	$9.4M	$2.1M	75x	as long as short
Aevo TRX-PERP	+0.0080%	1h	0.3442	−0.044%	$33K	—	3x	as long as short
Orderly PERP_TRX_USDC	+0.0086%	8h	0.3443	−0.003%	$14K	$107K	20x	as long as short
Gate TRX_USDT	+0.0088%	8h	0.3443	−0.009%	$9.7M	$2.5M	75x	as long as short
Phemex TRXUSDT	+0.0090%	8h	0.3443	+0.003%	$3.7M	$1.5M	50x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3445	+0.052%	$13.3M	$2.2M	10x	as long as short
KuCoin TRXUSDTMlong	+0.0100%	8h	0.3443	long leg	$8.6M	$3.5M	75x
edgeX TRXUSDC	+0.0100%	4h	0.3441	−0.052%	$587K	$443K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3442	−0.046%	$115K	$534K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3444	+0.017%	$196K	$904K	30x	as long as short
Kraken Futures PF_TRXUSD	+0.0116%	1h	0.3445	+0.047%	$1.8M	$967K	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0243%	1h	0.3447	+0.100%	$829K	$409K	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0334% / S −0.0340%	1h	0.3444	+0.025%	$18K	—	100x	as long as short