Funding you earn now, next payment 00:00 UTC−0.0108%/8h= −11.8% APRnext payment −$1.08 per $10,000 · paid last 24h −0.024%
Price spread now: Bybit against Phemex−0.032%7-day average −0.028% · you buy dearer than you sell
Net, funding: paid 7d − costs−$42as in the Funding arb table
Net, price: spread back to 7d avg − costs−$29as in the Price arb table
costs, in and out, $10k−$280.282% of the position
Funding, last 7 days−0.139%−$14 on $10k
+Price spread, last 3 days (all we have)+0.026%+$3 · spread now −0.032%, 7d avg −0.028%
=The price spread sits at its 7-day average of −0.028%, so right now this pair is about funding alone: −$3 a day on $10k at the current rate.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phemex TRXUSDT | 0.3444 | 0.0083 | pay 0.0083% / 8h | 42m 47s | $3.8M | $1.6M | 50x |
| Short | Bybit TRXUSDT | 0.3443 | −0.0025 | pay 0.0025% / 8h | 42m 47s | $54.7M | $8.0M | 75x |
Phemex TRXUSDT
Bybit TRXUSDTFunding history
latest
Range statsloading…
Price spread between the two exchanges
Bybit against Phemex. 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
- −$22.7
- Price spread: −0.032% → −0.028%
- −$0.36
- Slippage, 4 orders
- −$5.2
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Bybit: 5.5 bp × 2 orders
- −$11
- Net
- −$51.26
- Costs to cover
- 0.282%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 6 min ago; Bybit: live order book, 1 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 Phemex live order book, 6 min ago | 0.14 bp | 7.0 bp −$7 | 12.7 bp −$127 | doesn't fit | doesn't fit |
| Sell Bybit live order book, 1 min ago | 1.45 bp | 7.4 bp −$7 | 11.7 bp −$117 | 53.8 bp −$5,385 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.099% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3443 | −0.038% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0087% | 8h | 0.3443 | −0.029% | $8.7M | $3.7M | 75x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3445 | +0.029% | $5K | $13K | 10x | as long as short |
| Backpack TRX_USDC_PERP | −0.0062% | 1h | 0.3443 | −0.026% | $58K | $4K | 10x | as long as short |
| Variational Omni TRX | −0.0045% | 8h | 0.3444 | −0.010% | $563K | $36K | — | as long as short |
| HTX TRX-USDT | −0.0030% | 8h | 0.3443 | −0.053% | $827K | $726K | 75x | as long as short |
| Bybit TRXUSDTshort | −0.0025% | 8h | 0.3443 | −0.032% | $54.7M | $8.0M | 75x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3445 | +0.031% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3445 | +0.022% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Phoenix TRX
Backpack TRX_USDC_PERP
Variational Omni TRX
HTX TRX-USDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USDShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| OKX TRX-USDT-SWAP | +0.0010% | 8h | 0.3443 | −0.032% | $15.6M | $8.7M | 50x | as long as short |
| Extended TRX-USD | +0.0024% | 1h | 0.3443 | −0.043% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0026% | 8h | 0.3444 | −0.023% | $18.4M | $1.7M | 200x | as long as short |
| Binance TRXUSDT | +0.0027% | 8h | 0.3443 | −0.032% | $99.3M | $47.9M | 75x | as long as short |
| Aster TRXUSDT | +0.0044% | 8h | 0.3445 | +0.015% | $956K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0061% | 8h | 0.3444 | −0.006% | $9K | $385 | 20x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3445 | +0.012% | $1.9M | $1.0M | 25x | as long as short |
| Phemex TRXUSDTlong | +0.0083% | 8h | 0.3444 | long leg | $3.8M | $1.6M | 50x | |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3442 | −0.057% | $33K | — | 3x | as long as short |
| Lighter TRX | +0.0088% | 1h | 0.3444 | −0.020% | $482K | $630K | 10x | as long as short |
| Gate TRX_USDT | +0.0089% | 8h | 0.3444 | −0.017% | $9.6M | $2.5M | 75x | as long as short |
| Orderly PERP_TRX_USDC | +0.0090% | 8h | 0.3444 | −0.006% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3445 | +0.020% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | −0.029% | $9.5M | $2.2M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3443 | −0.029% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3444 | −0.012% | $588K | $432K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3446 | +0.041% | $115K | $559K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3445 | +0.026% | $196K | $921K | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3444 | −0.023% | $405 | $5K | 5x | as long as short |
| BloFin TRX-USDT | +0.0109% | 8h | 0.3443 | −0.029% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0365% / S −0.0395% | 1h | 0.3445 | +0.009% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0377% | 1h | 0.3447 | +0.084% | $830K | $414K | 25x | as long as short |
OKX TRX-USDT-SWAP
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
Aster TRXUSDT
Paradex TRX-USD-PERP
Kraken Futures PF_TRXUSD
Aevo TRX-PERP
Lighter TRX
Gate TRX_USDT
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL