Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0304%/8h= +33.2% APRpaid last 24h +0.069%

Price spread now: GMX against Orderly+0.025%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 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

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and GMX is 0.025% dearer against Orderly than usual: you sell high and buy low: +$3 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_TRX_USDC	0.3447	0.0091	pay 0.0091% / 8h	7h 55m	$14K	$107K	20x
Short	GMX TRX/USD [ETH-USDC]	0.3448	L +0.0367% / S −0.0395%	get 0.0049% / 1h	55m 06s	$20K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Orderly. 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 OrderlybpFee GMXbpOrdersPrice spread, now +0.025%Rate

Funding earned: $63.75
Price spread: +0.025% → 0.000%: $2.52
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GMX: 6 bp × 2 orders: −$12
Net: $48.27
Costs to cover: 0.180%
Break-even: 1.7 days

Slippage unknown: Orderly: no order-book sample; GMX: 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 Orderly no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Orderly and GMX: 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	0.3446	−0.021%	$5	—	20x	as long as short
KuCoin TRXUSDTM	−0.0089%	8h	0.3446	−0.023%	$8.7M	$3.6M	75x	as long as short
Phoenix TRX	−0.0070%	1h	0.3446	−0.015%	$5K	$14K	10x	as long as short
Variational Omni TRX	−0.0004%	8h	0.3446	−0.022%	$563K	$36K	—	as long as short
dYdX TRX-USD	0.0000%	1h	0.3449	+0.054%	$181K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3448	+0.025%	$121K	—	150x	as long as short
Backpack TRX_USDC_PERP	+0.0026%	1h	0.3446	−0.038%	$58K	$4K	10x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.168%	$1K	$163K	12x	as long as short
Gate TRX_USDT	+0.0037%	8h	0.3446	−0.020%	$9.6M	$2.4M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0041%	8h	0.3446	−0.020%	$15.6M	$8.8M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC TRX_USDT	+0.0045%	8h	0.3446	−0.017%	$18.3M	$1.9M	200x	as long as short
Binance TRXUSDT	+0.0047%	8h	0.3446	−0.022%	$99.6M	$48.4M	75x	as long as short
Extended TRX-USD	+0.0048%	1h	0.3445	−0.042%	$196K	$1.1M	25x	as long as short
HTX TRX-USDT	+0.0078%	8h	0.3445	−0.055%	$828K	$734K	75x	as long as short
Paradex TRX-USD-PERP	+0.0079%	8h	0.3447	+0.009%	$9K	$385	20x	as long as short
Lighter TRX	+0.0088%	1h	0.3446	−0.035%	$482K	$628K	10x	as long as short
Orderly PERP_TRX_USDClong	+0.0091%	8h	0.3447	long leg	$14K	$107K	20x
Aevo TRX-PERP	+0.0096%	1h	0.3445	−0.052%	$33K	—	3x	as long as short
Aster TRXUSDT	+0.0096%	8h	0.3447	+0.012%	$956K	$660K	75x	as long as short
Hyperliquid TRX	+0.0100%	1h	0.3448	+0.020%	$13.2M	$2.2M	10x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3446	−0.020%	$54.7M	$8.0M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3446	−0.020%	$9.4M	$2.1M	75x	as long as short
BingX TRX-USDT	+0.0100%	8h	0.3446	−0.012%	—	$40.0M	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3445	−0.040%	$589K	$437K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3445	−0.041%	$115K	$572K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3445	−0.039%	$196K	$940K	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3446	−0.023%	$407	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3447	−0.003%	$3.8M	$1.6M	50x	as long as short
BloFin TRX-USDT	+0.0167%	8h	0.3447	−0.009%	$4.6M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0173%	1h	0.3448	+0.040%	$2.1M	$1.2M	25x	as long as short
GMX TRX/USD [ETH-USDC]short	L +0.0367% / S −0.0395%	1h	0.3448	+0.025%	$20K	—	100x
Deribit TRX_USDC-PERPETUAL	+0.0527%	1h	0.3450	+0.091%	$833K	$417K	25x	as long as short