Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.003%

Price spread now: Injective against MEXC−1.013%55s7-day average −0.229% · you buy dearer than you sell

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

Long on MEXC Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days+0.195%+$20 on $10k

Price spread, last 4 days (all we have)+0.909%+$91 · spread now −1.013%, 7d avg −0.229%

Together, before fees+1.104%+$110 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 0.783% cheaper against MEXC than usual: you would sell low and buy high (−$78 if the spread goes back to its 7-day average of −0.229%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.195%, so the current rate has only just turned against you. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC TRX_USDT	0.3476	0.0100	pay 0.0100% / 8h	5h 10m	$18.8M	$2.1M	200x
Short	Injective TRX/USDC PERP	0.3441	0.0033	get 0.0004% / 1h	10m 19s	$1K	$163K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now −1.013%Rate

Funding earned: −$14
Price spread: −1.013% → −0.229%: −$78.34
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$96.36
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: 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 MEXC live order book, 3 min ago	0.14 bp	2.5 bp −$2	5.2 bp −$52	26.4 bp −$2,637	42.0 bp −$21.0K
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	0.3475	−0.025%	$5	—	20x	as long as short
Phoenix TRX	−0.0023%	1h	0.3476	0.000%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3477	+0.009%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3476	−0.003%	$122K	—	150x	as long as short
Injective TRX/USDC PERPshort	+0.0033%	1h	0.3441	−1.013%	$1K	$163K	12x
BingX TRX-USDT	+0.0070%	8h	0.3476	−0.012%	—	$32.8M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3476	−0.012%	$485K	$664K	10x	as long as short
Backpack TRX_USDC_PERP	+0.0096%	1h	0.3475	−0.032%	$59K	$4K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0098%	8h	0.3476	−0.020%	$14K	$122K	20x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3476	−0.016%	$9K	$251	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3479	+0.069%	$13.1M	$2.6M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3475	−0.025%	$962K	$692K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3476	−0.003%	$105.1M	$57.9M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3476	−0.017%	$53.8M	$11.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3476	0.000%	$15.6M	$9.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3476	−0.003%	$9.7M	$2.9M	75x	as long as short
MEXC TRX_USDTlong	+0.0100%	8h	0.3476	long leg	$18.8M	$2.1M	200x
KuCoin TRXUSDTM	+0.0100%	8h	0.3476	0.000%	$8.6M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3477	+0.009%	$10.3M	$3.3M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3475	−0.040%	$568K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3474	−0.057%	$592K	$470K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3474	−0.069%	$116K	$560K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3474	−0.049%	$197K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3476	−0.006%	$410	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3475	−0.040%	$838K	$829K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3477	+0.012%	$3.9M	$1.8M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3475	−0.031%	$198K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3474	−0.057%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3476	−0.009%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0403% / S −0.0481%	1h	0.3476	−0.005%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0585%	1h	0.3477	+0.023%	$2.4M	$1.7M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0636%	1h	0.3479	+0.091%	$845K	$502K	25x	as long as short