Spread before costs (cost unknown: a leg has no order-book sample)+0.038%
7d average+0.041%if it closes, per $10,000$4funding while held, a day+$0.48
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Orderly PERP_TRX_USDC | 0.3447 | 0.0084 | pay 0.0084% / 8h | 7h 33m | $15K | $113K | 20x |
| Short | Hyperliquid TRX | 0.3448 | 0.0100 | get 0.0013% / 1h | 33m 09s | $13.2M | $2.1M | 10x |
Orderly PERP_TRX_USDC
Hyperliquid TRXPrice spread history
latest
Range statsloading…
How often the spread is this wide
share of time at each level, last 7DBacktest
opened in the past, held until now, after costsProfit calculator
- Spread captured
- $3.77
- Funding while held
- $0.48
- Slippage, 4 orders
- no order book: not counted
- Fee Orderly: 3 bp × 2 orders
- −$6
- Fee Hyperliquid: 4.5 bp × 2 orders
- −$9
- Net
- −$10.74
- Spread needed to break even
- 0.150%
Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 11 min ago. Net counts fees only.
Cost of waiting
funding view- Funding /8h
- +0.0016%
- Per $10,000 a day
- +$0.48
- Average in range /8h
- —
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 Hyperliquid live order book, 11 min ago | 0.14 bp | 6.5 bp −$7 | doesn't fit | doesn't fit | doesn't fit |
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 price on every exchange
against the cheapest. Click to use as the short leg.Injective0.3428cheapestSunX0.3444+0.466%Aevo0.3444+0.480%HTX0.3445+0.490%Aster0.3445+0.505%Variational Omni0.3445+0.507%MEXC0.3445+0.508%Bitget0.3445+0.508%Reya0.3446+0.515%Binance0.3446+0.515%Bybit0.3446+0.516%SoDEX0.3446+0.516%Extended0.3446+0.517%OKX0.3446+0.522%Lighter0.3446+0.525%Gate0.3446+0.525%BingX0.3446+0.531%Backpack0.3446+0.531%edgeX0.3446+0.532%Paradex0.3446+0.533%
Injective
SunX
Aevo
HTX
Aster
Variational Omni
MEXC
Bitget
Reya
Binance
Bybit
SoDEX
Extended
OKX
Lighter
Gate
BingX
Backpack
ParadexOrderly0.3447+0.540%
Phemex0.3447+0.543%KuCoin0.3447+0.557%Phoenix0.3447+0.557%BloFin0.3448+0.572%
Phemex
KuCoin
Phoenix
BloFinHyperliquid0.3448+0.578%
gTrade (Gains Network)0.3448+0.586%ApeX Omni0.3448+0.589%GMX0.3448+0.591%Kraken Futures0.3449+0.604%dYdX0.3449+0.609%Deribit0.3450+0.647%
gTrade (Gains Network)
ApeX Omni
GMX
Kraken Futures
dYdX
DeribitTRX on 32 venues
cheapest first. Swap a leg.| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.537% | +0.0033% | 1h | $1K | $70K | 12x | as long as short |
| SunX TRX-USDT | −0.073% | +0.0100% | 8h | $196K | $850K | 30x | as long as short |
| Aevo TRX-PERP | −0.059% | +0.0080% | 1h | $33K | — | 3x | as long as short |
| HTX TRX-USDT | −0.049% | −0.0005% | 8h | $835K | $625K | 75x | as long as short |
| Aster TRXUSDT | −0.035% | −0.0167% | 8h | $915K | $579K | 75x | as long as short |
| Variational Omni TRX | −0.033% | +0.0065% | 8h | $560K | $35K | — | as long as short |
| MEXC TRX_USDT | −0.032% | +0.0008% | 8h | $17.4M | $1.7M | 200x | as long as short |
| Bitget TRXUSDT | −0.032% | +0.0100% | 8h | $9.4M | $2.1M | 75x | as long as short |
| Reya TRXRUSDPERP | −0.025% | −0.0133% | 1h | $5 | — | 20x | as long as short |
| Binance TRXUSDT | −0.024% | +0.0008% | 8h | $100.8M | $51.5M | 75x | as long as short |
Show all 32 venues
| Exchange | vs long leg | Funding /8h | Every | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|
| Bybit TRXUSDT | −0.023% | −0.0026% | 8h | $54.6M | $7.7M | 75x | as long as short |
| SoDEX TRX-USD | −0.023% | −0.0066% | 1h | $405 | $5K | 5x | as long as short |
| Extended TRX-USD | −0.023% | +0.0008% | 1h | $195K | $1.1M | 25x | as long as short |
| OKX TRX-USDT-SWAP | −0.017% | +0.0035% | 8h | $15.6M | $8.6M | 50x | as long as short |
| Lighter TRX | −0.015% | +0.0096% | 1h | $449K | $562K | 10x | as long as short |
| Gate TRX_USDT | −0.015% | +0.0100% | 8h | $9.7M | $2.4M | 75x | as long as short |
| BingX TRX-USDT | −0.009% | +0.0100% | 8h | — | $35.3M | — | as long as short |
| Backpack TRX_USDC_PERP | −0.009% | −0.0137% | 1h | $60K | $4K | 10x | as long as short |
| edgeX TRXUSDC | −0.007% | +0.0100% | 4h | $588K | $452K | 20x | as long as short |
| Paradex TRX-USD-PERP | −0.007% | +0.0080% | 8h | $8K | $333 | 20x | as long as short |
| Orderly PERP_TRX_USDClong | 0.000% | +0.0084% | 8h | $15K | $113K | 20x | |
| Phemex TRXUSDT | +0.003% | +0.0036% | 8h | $3.7M | $1.5M | 50x | as long as short |
| KuCoin TRXUSDTM | +0.017% | +0.0100% | 8h | $8.6M | $3.5M | 75x | as long as short |
| Phoenix TRX | +0.017% | −0.0093% | 1h | $5K | $13K | 10x | as long as short |
| BloFin TRX-USDT | +0.032% | +0.0033% | 8h | $4.6M | $3.9M | 50x | as long as short |
| Hyperliquid TRXshort | +0.038% | +0.0100% | 1h | $13.2M | $2.1M | 10x | |
| gTrade (Gains Network) TRX/USD | +0.046% | L +0.0003% / S −0.0007% | 1h | $121K | — | 150x | as long as short |
| ApeX Omni TRXUSDT | +0.049% | +0.0100% | 1h | $115K | $552K | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | +0.051% | L +0.0340% / S −0.0344% | 1h | $18K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.064% | +0.0116% | 1h | $1.9M | $901K | 25x | as long as short |
| dYdX TRX-USD | +0.069% | 0.0000% | 1h | $186K | $3K | 10x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.106% | +0.0281% | 1h | $797K | $405K | 25x | as long as short |