Funding you earn now, next payment 07:00 UTC+0.0156%/8h= +17.1% APRnext payment +$0.19 per $10,000 · paid last 24h +0.033%
Price spread now: Kraken Futures against Lighter+0.040%7-day average +0.030% · you sell dearer than you buy
Net, funding: paid 7d − costs−$35as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$220.223% of the position
Funding, last 7 days−0.123%−$12 on $10k
+Price spread, last 4 days (all we have)−0.055%−$6 · spread now +0.040%, 7d avg +0.030%
=Together, before fees−0.178%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour
The price spread sits at its 7-day average of +0.030%, so right now this pair is about funding alone: +$5 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair cost −0.123%, 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 | Lighter TRX | 0.3486 | 0.0096 | pay 0.0012% / 1h | 45m 07s | $487K | $670K | 10x |
| Short | Kraken Futures PF_TRXUSD | 0.3488 | 0.0252 | get 0.0031% / 1h | 45m 07s | $2.4M | $1.8M | 25x |
Lighter TRX
Kraken Futures PF_TRXUSDFunding history
latest
Range statsloading…
Price spread between the two exchanges
Kraken Futures against Lighter. 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
- $32.74
- Price spread: +0.040% → +0.030%
- $0.96
- Slippage, 4 orders
- −$12.3
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Kraken Futures: 5 bp × 2 orders
- −$10
- Net
- $11.41
- Costs to cover
- 0.223%
- Break-even
- 4.6 days
Slippage from Lighter: live order book, 60 min ago; Kraken Futures: 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 Lighter live order book, 60 min ago | 0.86 bp | 2.9 bp −$3 | 10.2 bp −$102 | 48.8 bp −$4,878 | doesn't fit |
| Sell Kraken Futures live order book, 3 min ago | 2.01 bp | 8.0 bp −$8 | 13.8 bp −$138 | 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 | 0.3485 | −0.032% | $5 | — | 20x | as long as short |
| HTX TRX-USDT | −0.0008% | 8h | 0.3482 | −0.110% | $832K | $936K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | +0.002% | $183K | $12K | 10x | as long as short |
| Phoenix TRX | 0.0000% | 1h | 0.3487 | +0.026% | $5K | $14K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3487 | +0.023% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.299% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDT | +0.0070% | 8h | 0.3487 | +0.011% | — | $32.8M | — | as long as short |
| Lighter TRXlong | +0.0096% | 1h | 0.3486 | long leg | $487K | $670K | 10x | |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3486 | −0.016% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3486 | 0.000% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
HTX TRX-USDT
dYdX TRX-USD
Phoenix TRX
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDT
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 | +0.092% | $13.3M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3485 | −0.024% | $966K | $701K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3487 | +0.032% | $107.3M | $62.5M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3487 | +0.020% | $53.6M | $12.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3487 | +0.011% | $15.5M | $10.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3487 | +0.009% | $9.7M | $3.1M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3487 | +0.020% | $18.9M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3487 | +0.023% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3486 | −0.009% | $9.8M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3486 | −0.009% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3485 | −0.040% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | −0.015% | $594K | $467K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3487 | +0.009% | $116K | $582K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3485 | −0.047% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3487 | +0.014% | $410 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3487 | +0.023% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3486 | −0.019% | $195K | $886K | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3484 | −0.057% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3486 | −0.003% | $4.8M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSDshort | +0.0252% | 1h | 0.3488 | +0.040% | $2.4M | $1.8M | 25x | |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3487 | +0.014% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0989% | 1h | 0.3492 | +0.154% | $909K | $681K | 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