Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.024%

Price spread now: Variational Omni against Orderly−0.031%48s7-day average — · you buy dearer than you sell

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

Long on Orderly Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.031% cheaper against Orderly than usual: you would sell low and buy high, −$3 on $10k if it goes back to zero (this spread has no 7-day history yet). The two prices were read 48 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	Orderly PERP_TRX_USDC	0.3481	0.0100	pay 0.0100% / 8h	40m 29s	$14K	$61K	20x
Short	Variational Omni TRX	0.3480	0.0100	get 0.0100% / 8h	40m 29s	$569K	$33K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.031%Rate

Funding earned: $0.07
Price spread: −0.031% → 0.000%: −$3.1
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$9.03
Costs to cover: 0.060%
Break-even: 892.0 days

Slippage unknown: Orderly: no order-book sample; Variational Omni: RFQ quote, 64 min ago. 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 Variational Omni RFQ quote, 64 min ago	5.74 bp	doesn't fit	8.6 bp −$86	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 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	0.3482	+0.027%	$5	—	20x	as long as short
HTX TRX-USDT	−0.0075%	8h	0.3481	−0.005%	$834K	$952K	75x	as long as short
Phoenix TRX	−0.0023%	1h	0.3482	+0.040%	$5K	$13K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3485	+0.129%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3486	+0.150%	$123K	—	150x	as long as short
Backpack TRX_USDC_PERP	+0.0006%	1h	0.3485	+0.106%	$62K	$5K	10x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.146%	$1K	$163K	12x	as long as short
SoDEX TRX-USD	+0.0044%	1h	0.3481	−0.003%	$409	$5K	5x	as long as short
BingX TRX-USDC	+0.0070%	8h	0.3485	+0.112%	—	$6.5M	—	as long as short
Paradex TRX-USD-PERP	+0.0089%	8h	0.3485	+0.112%	$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
Lighter TRX	+0.0096%	1h	0.3485	+0.129%	$487K	$671K	10x	as long as short
Orderly PERP_TRX_USDClong	+0.0100%	8h	0.3481	long leg	$14K	$61K	20x
Hyperliquid TRX	+0.0100%	1h	0.3488	+0.213%	$13.3M	$2.8M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3483	+0.063%	$972K	$714K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3485	+0.109%	$106.9M	$63.7M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3485	+0.118%	$53.6M	$12.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3484	+0.098%	$15.7M	$10.8M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3486	+0.144%	$9.7M	$3.3M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3486	+0.149%	$19.2M	$2.3M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3486	+0.152%	$8.5M	$3.4M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3484	+0.098%	$9.8M	$4.3M	75x	as long as short
Variational Omni TRXshort	+0.0100%	8h	0.3480	−0.031%	$569K	$33K	—
edgeX TRXUSDC	+0.0100%	4h	0.3480	−0.020%	$593K	$460K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3483	+0.055%	$116K	$596K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3479	−0.049%	$198K	$1.3M	30x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3485	+0.115%	$4.0M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3484	+0.075%	$205K	$1.1M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3479	−0.059%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3484	+0.101%	$4.8M	$4.0M	50x	as long as short
Kraken Futures PF_TRXUSD	+0.0296%	1h	0.3482	+0.043%	$2.4M	$1.9M	25x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0410% / S −0.0492%	1h	0.3486	+0.132%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0436%	1h	0.3484	+0.095%	$879K	$740K	25x	as long as short