Funding you earn now, next payment 02:00 UTC−0.0003%/8h= −0.4% APRpaid last 24h +0.003%
Price spread now: Orderly against Lighter+0.038%7-day average −0.002% · you sell dearer than you buy
to open and closeno order booka leg has no order-book sample
Funding, last 7 days+0.122%+$12 on $10k
+Price spread, last 3 days (all we have)−0.052%−$5 · spread now +0.038%, 7d avg −0.002%
=Together, before fees+0.069%+ Points / potential airdropLighter: Season 3 · farm board+$7 on $10k · with fees, hour by hour
Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Orderly is 0.040% dearer against Lighter than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of −0.002%.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Lighter TRX | 0.3464 | 0.0096 | pay 0.0012% / 1h | 43m 36s | $485K | $618K | 10x |
| Short | Orderly PERP_TRX_USDC | 0.3466 | 0.0093 | get 0.0093% / 8h | 6h 43m | $15K | $107K | 20x |
Lighter TRX
Orderly PERP_TRX_USDCFunding history
latest
Range statsloading…
Price spread between the two exchanges
Orderly 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
- −$0.7
- Price spread: +0.038% → −0.002%
- $3.98
- Slippage, 4 orders
- no order book: not counted
- Fee Lighter: 0 bp × 2 orders
- $0
- Fee Orderly: 3 bp × 2 orders
- −$6
- Net
- −$2.72
- Costs to cover
- 0.060%
- Break-even
- never at this rate
Slippage unknown: Lighter: live order book, 21 min ago; Orderly: 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 Lighter live order book, 21 min ago | 1.30 bp | 2.4 bp −$2 | 10.6 bp −$106 | 41.6 bp −$4,158 | doesn't fit |
| Sell Orderly no order-book sample | — | — | — | — | — |
Orderly: 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 | 0.3467 | +0.066% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0046% | 1h | 0.3468 | +0.098% | $5K | $14K | 10x | as long as short |
| KuCoin TRXUSDTM | −0.0033% | 8h | 0.3464 | 0.000% | $8.7M | $3.5M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3466 | +0.059% | $182K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3467 | +0.080% | $122K | — | 150x | as long as short |
| Backpack TRX_USDC_PERP | +0.0018% | 1h | 0.3466 | +0.040% | $59K | $4K | 10x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.675% | $1K | $163K | 12x | as long as short |
| Orderly PERP_TRX_USDCshort | +0.0093% | 8h | 0.3466 | +0.038% | $15K | $107K | 20x | |
| Paradex TRX-USD-PERP | +0.0096% | 8h | 0.3465 | +0.006% | $9K | $251 | 20x | as long as short |
| Lighter TRXlong | +0.0096% | 1h | 0.3464 | long leg | $485K | $618K | 10x |
Reya TRXRUSDPERP
Phoenix TRX
KuCoin TRXUSDTM
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Backpack TRX_USDC_PERP
Injective TRX/USDC PERP
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3467 | +0.069% | $13.2M | $2.3M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3466 | +0.039% | $957K | $669K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3464 | −0.002% | $102.0M | $50.0M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3464 | −0.012% | $55.2M | $9.1M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3463 | −0.032% | $15.5M | $8.6M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3464 | −0.006% | $9.7M | $2.6M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3464 | −0.014% | $18.6M | $1.9M | 200x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3465 | +0.012% | $10.4M | $3.1M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3464 | −0.012% | — | $6.5M | — | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3466 | +0.045% | $566K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3466 | +0.033% | $591K | $446K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3465 | +0.020% | $115K | $566K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3464 | −0.017% | $197K | $1.0M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3467 | +0.078% | $406 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3465 | +0.028% | $832K | $793K | 75x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3467 | +0.072% | $3.9M | $1.7M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3463 | −0.053% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3465 | +0.013% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3465 | +0.023% | $4.6M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0402% / S −0.0481% | 1h | 0.3467 | +0.069% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0525% | 1h | 0.3468 | +0.114% | $2.3M | $1.6M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0563% | 1h | 0.3470 | +0.171% | $786K | $424K | 25x | as long as short |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
Bitget TRXUSDT
BingX TRX-USDC
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD
Deribit TRX_USDC-PERPETUAL