Funding you earn now, next payment 07:00 UTC+0.0780%/8h= +85.4% APRpaid last 24h +0.082%
Price spread now: Deribit against OKX+0.128%7-day average +0.077% · you sell dearer than you buy
Net, funding: paid 7d − costs−$5as in the Funding arb table
Net, price: spread back to 7d avg − costs−$21as in the Price arb table
costs, in and out, $10k−$260.264% of the position
Funding, last 7 days+0.212%+$21 on $10k
+Price spread, last 4 days (all we have)−0.104%−$10 · spread now +0.128%, 7d avg +0.077%
=Both sides work for this trade now. Funding pays +$23 a day on $10k at the current rate, and Deribit is 0.051% dearer against OKX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.077%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.212% in total (about 11.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | OKX TRX-USDT-SWAP | 0.3487 | 0.0100 | pay 0.0100% / 8h | 1h 55m | $15.5M | $10.5M | 50x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3491 | 0.0880 | get 0.0110% / 1h | 55m 17s | $909K | $680K | 25x |
OKX TRX-USDT-SWAP
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit against OKX. 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
- $163.75
- Price spread: +0.128% → +0.077%
- $5.06
- Slippage, 4 orders
- −$9.36
- Fee OKX: 5 bp × 2 orders
- −$10
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $142.45
- Costs to cover
- 0.264%
- Break-even
- 0.9 days
Slippage from OKX: live order book, 3 min ago; Deribit: live order book, 54 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 OKX live order book, 3 min ago | 0.14 bp | 7.5 bp −$8 | 15.6 bp −$156 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 54 min ago | 0.14 bp | 7.4 bp −$7 | doesn't fit | 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 | 0.3486 | −0.022% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3488 | +0.040% | $5K | $14K | 10x | as long as short |
| HTX TRX-USDT | −0.0002% | 8h | 0.3485 | −0.041% | $833K | $934K | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3486 | −0.015% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0008% | 1h | 0.3487 | +0.011% | $123K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.316% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3487 | +0.003% | — | $6.5M | — | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3487 | −0.011% | $487K | $670K | 10x | as long as short |
| Paradex TRX-USD-PERP | +0.0100% | 8h | 0.3486 | −0.017% | $9K | $251 | 20x | as long as short |
| Orderly PERP_TRX_USDC | +0.0100% | 8h | 0.3486 | −0.014% | $14K | $60K | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
HTX TRX-USDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDC
Lighter TRX
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 | +0.075% | $13.3M | $2.7M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3487 | −0.003% | $966K | $701K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3487 | +0.011% | $107.3M | $62.6M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3487 | +0.003% | $53.6M | $12.5M | 75x | as long as short |
| OKX TRX-USDT-SWAPlong | +0.0100% | 8h | 0.3487 | long leg | $15.5M | $10.5M | 50x | |
| Gate TRX_USDT | +0.0100% | 8h | 0.3487 | 0.000% | $9.7M | $3.1M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3487 | +0.006% | $18.9M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3488 | +0.026% | $8.5M | $3.4M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3486 | −0.026% | $9.8M | $4.3M | 75x | as long as short |
| Backpack TRX_USDC_PERP | +0.0100% | 1h | 0.3486 | −0.020% | $62K | $5K | 10x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3486 | −0.029% | $570K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3486 | −0.031% | $594K | $465K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3488 | +0.032% | $116K | $580K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3486 | −0.039% | $198K | $1.3M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3487 | +0.006% | $412 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3487 | +0.006% | $4.0M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3486 | −0.032% | $195K | $1.1M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3485 | −0.044% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3487 | +0.003% | $4.7M | $4.0M | 50x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0252% | 1h | 0.3487 | +0.013% | $2.4M | $1.8M | 25x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0410% / S −0.0492% | 1h | 0.3487 | −0.005% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0880% | 1h | 0.3491 | +0.128% | $909K | $680K | 25x |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
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
Kraken Futures PF_TRXUSD
GMX TRX/USD [ETH-USDC]