Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0123%/8h= −13.5% APRpaid last 24h −0.028%

Price spread now: Phoenix against MEXC+0.032%107s7-day average — · you sell dearer than you buy

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

Long on MEXC Short on Phoenix

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Phoenix is 0.032% dearer against MEXC than usual: you sell high and buy low (spread +0.032% now, against zero (this spread has no 7-day history yet)): +$3 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 21 hours. The two prices were read 107 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	0.3475	0.0100	pay 0.0100% / 8h	5h 09m	$18.8M	$2.1M	200x
Short	Phoenix TRX	0.3476	−0.0023	pay 0.0003% / 1h	9m 36s	$5K	$14K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Phoenix 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 PhoenixbpOrdersPrice spread, now +0.032%Rate

Funding earned: −$25.83
Price spread: +0.032% → 0.000%: $3.17
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Phoenix: 3.5 bp × 2 orders: −$7
Net: −$33.67
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 4 min ago; Phoenix: 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, 4 min ago	0.14 bp	2.5 bp −$2	5.2 bp −$52	26.4 bp −$2,637	42.0 bp −$21.0K
Sell Phoenix no order-book sample	—	—	—	—	—

Phoenix: 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	+0.007%	$5	—	20x	as long as short
Phoenix TRXshort	−0.0023%	1h	0.3476	+0.032%	$5K	$14K	10x
dYdX TRX-USD	0.0000%	1h	0.3477	+0.040%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3476	+0.028%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.981%	$1K	$163K	12x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3474	−0.026%	—	$6.5M	—	as long as short
Lighter TRX	+0.0096%	1h	0.3475	0.000%	$485K	$664K	10x	as long as short
Backpack TRX_USDC_PERP	+0.0096%	1h	0.3475	−0.003%	$59K	$4K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0098%	8h	0.3476	+0.012%	$14K	$122K	20x	as long as short
Paradex TRX-USD-PERP	+0.0099%	8h	0.3475	−0.013%	$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	0.3478	+0.095%	$13.1M	$2.6M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3475	+0.003%	$962K	$692K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3475	−0.008%	$105.1M	$57.9M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3475	−0.012%	$53.8M	$11.5M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3475	−0.014%	$15.5M	$9.5M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3476	+0.012%	$9.7M	$2.9M	75x	as long as short
MEXC TRX_USDTlong	+0.0100%	8h	0.3475	long leg	$18.8M	$2.1M	200x
KuCoin TRXUSDTM	+0.0100%	8h	0.3476	+0.029%	$8.6M	$3.5M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3474	−0.017%	$10.3M	$3.3M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3475	−0.008%	$568K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3474	−0.026%	$592K	$470K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3474	−0.037%	$116K	$560K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3474	−0.017%	$197K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3476	+0.026%	$410	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3475	−0.009%	$839K	$829K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3477	+0.043%	$3.9M	$1.8M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3473	−0.058%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3474	−0.025%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3476	+0.023%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0403% / S −0.0481%	1h	0.3476	+0.027%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0585%	1h	0.3477	+0.055%	$2.4M	$1.7M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0636%	1h	0.3479	+0.122%	$845K	$502K	25x	as long as short