Funding you earn now, next payment 03:00 UTC+0.0557%/8h= +61.0% APRpaid last 24h +0.058%
Price spread now: Deribit against Phemex+0.103%7-day average +0.063% · you sell dearer than you buy
Net, funding: paid 7d − costs−$20as in the Funding arb table
Net, price: spread back to 7d avg − costs−$24as in the Price arb table
costs, in and out, $10k−$280.277% of the position
Funding, last 7 days+0.077%+$8 on $10k
+Price spread, last 4 days (all we have)−0.051%−$5 · spread now +0.103%, 7d avg +0.063%
=Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Deribit is 0.041% dearer against Phemex than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.063%.
The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.077% in total (about 4.0% 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 | Phemex TRXUSDT | 0.3474 | 0.0100 | pay 0.0100% / 8h | 5h 08m | $3.9M | $1.8M | 50x |
| Short | Deribit TRX_USDC-PERPETUAL | 0.3478 | 0.0657 | get 0.0082% / 1h | 8m 58s | $844K | $502K | 25x |
Phemex TRXUSDT
Deribit TRX_USDC-PERPETUALFunding history
latest
Range statsloading…
Price spread between the two exchanges
Deribit 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
- $116.89
- Price spread: +0.103% → +0.063%
- $4.05
- Slippage, 4 orders
- −$8.68
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee Deribit: 3.5 bp × 2 orders
- −$7
- Net
- $93.26
- Costs to cover
- 0.277%
- Break-even
- 1.4 days
Slippage from Phemex: live order book, 5 min ago; Deribit: live order book, 55 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, 5 min ago | 0.58 bp | 9.0 bp −$9 | 12.1 bp −$121 | doesn't fit | doesn't fit |
| Sell Deribit live order book, 55 min ago | 2.15 bp | 6.2 bp −$6 | 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 | 0.3473 | −0.019% | $5 | — | 20x | as long as short |
| Phoenix TRX | −0.0023% | 1h | 0.3476 | +0.063% | $5K | $14K | 10x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3477 | +0.072% | $183K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3475 | +0.017% | $122K | — | 150x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −0.950% | $1K | $163K | 12x | as long as short |
| BingX TRX-USDC | +0.0070% | 8h | 0.3474 | −0.009% | — | $6.5M | — | as long as short |
| Backpack TRX_USDC_PERP | +0.0094% | 1h | 0.3473 | −0.023% | $59K | $4K | 10x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3474 | −0.003% | $485K | $664K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0098% | 8h | 0.3474 | −0.009% | $14K | $122K | 20x | as long as short |
| Paradex TRX-USD-PERP | +0.0099% | 8h | 0.3475 | +0.019% | $9K | $251 | 20x | as long as short |
Reya TRXRUSDPERP
Phoenix TRX
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Injective TRX/USDC PERP
BingX TRX-USDC
Backpack TRX_USDC_PERP
Lighter TRX
Orderly PERP_TRX_USDC
Paradex TRX-USD-PERPShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Hyperliquid TRX | +0.0100% | 1h | 0.3477 | +0.072% | $13.1M | $2.6M | 10x | as long as short |
| Aster TRXUSDT | +0.0100% | 8h | 0.3474 | +0.009% | $962K | $692K | 75x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3473 | −0.018% | $105.1M | $57.9M | 75x | as long as short |
| Bybit TRXUSDT | +0.0100% | 8h | 0.3473 | −0.029% | $53.8M | $11.5M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3474 | −0.006% | $15.5M | $9.5M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3474 | −0.006% | $9.7M | $2.9M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3474 | −0.003% | $18.8M | $2.1M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3474 | +0.006% | $8.6M | $3.5M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3474 | +0.006% | $10.3M | $3.3M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3475 | +0.024% | $568K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3475 | +0.022% | $593K | $470K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3474 | −0.006% | $116K | $560K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3473 | −0.040% | $197K | $1.2M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3474 | 0.000% | $406 | $5K | 5x | as long as short |
| HTX TRX-USDT | +0.0100% | 8h | 0.3472 | −0.044% | $839K | $829K | 75x | as long as short |
| Phemex TRXUSDTlong | +0.0100% | 8h | 0.3474 | long leg | $3.9M | $1.8M | 50x | |
| Extended TRX-USD | +0.0104% | 1h | 0.3473 | −0.029% | $195K | $1.0M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3472 | −0.053% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3474 | +0.009% | $4.7M | $3.9M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0404% / S −0.0481% | 1h | 0.3474 | +0.013% | $20K | — | 100x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0586% | 1h | 0.3475 | +0.022% | $2.4M | $1.7M | 25x | as long as short |
| Deribit TRX_USDC-PERPETUALshort | +0.0657% | 1h | 0.3478 | +0.103% | $844K | $502K | 25x |
Hyperliquid TRX
Aster TRXUSDT
Binance TRXUSDT
Bybit TRXUSDT
OKX TRX-USDT-SWAP
Gate TRX_USDT
MEXC TRX_USDT
KuCoin TRXUSDTM
Bitget TRXUSDT
Variational Omni TRX
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
SoDEX TRX-USD
HTX TRX-USDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Kraken Futures PF_TRXUSD