Funding you earn now, next payment 00:00 UTC−0.0060%/8h= −6.5% APRnext payment −$0.60 per $10,000 · paid last 24h −0.005%
Price spread now: OKX against Phemex+0.003%53s7-day average −0.013% · you sell dearer than you buy
Net, funding: paid 7d − costs−$37as in the Funding arb table
Net, price: spread back to 7d avg − costs—prices read too far apart to compare
costs, in and out, $10k−$260.262% of the position
Funding, last 7 days−0.104%−$10 on $10k
+Price spread, last 3 days (all we have)+0.015%+$1 · spread now +0.003%, 7d avg −0.013%
=The price spread sits at its 7-day average of −0.013%, so right now this pair is about funding alone: −$2 a day on $10k at the current rate. The two prices were read 53 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 | Phemex TRXUSDT | 0.3442 | 0.0084 | pay 0.0084% / 8h | 18m 30s | $3.8M | $1.6M | 50x |
| Short | OKX TRX-USDT-SWAP | 0.3443 | 0.0025 | get 0.0025% / 8h | 18m 30s | $15.6M | $8.8M | 50x |
Phemex TRXUSDT
OKX TRX-USDT-SWAPFunding history
latest
Range statsloading…
Price spread between the two exchanges
OKX 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
- −$12.52
- Price spread: +0.003% → −0.013%
- $1.62
- Slippage, 4 orders
- −$4.18
- Fee Phemex: 6 bp × 2 orders
- −$12
- Fee OKX: 5 bp × 2 orders
- −$10
- Net
- −$37.07
- Costs to cover
- 0.262%
- Break-even
- never at this rate
Slippage from Phemex: live order book, 5 min ago; OKX: live order book, 5 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 | 0.14 bp | 7.8 bp −$8 | 12.4 bp −$124 | doesn't fit | doesn't fit |
| Sell OKX live order book, 5 min ago | 0.14 bp | 6.1 bp −$6 | 10.0 bp −$100 | 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 | |
|---|---|---|---|---|---|---|---|---|
| Injective TRX/USDC PERP | −0.0146% | 1h | 0.3441 | −0.041% | $1K | $163K | 12x | as long as short |
| Reya TRXRUSDPERP | −0.0133% | 1h | 0.3442 | −0.012% | $5 | — | 20x | as long as short |
| KuCoin TRXUSDTM | −0.0092% | 8h | 0.3443 | +0.003% | $8.7M | $3.6M | 75x | as long as short |
| Backpack TRX_USDC_PERP | −0.0079% | 1h | 0.3442 | −0.009% | $58K | $4K | 10x | as long as short |
| Phoenix TRX | −0.0070% | 1h | 0.3442 | −0.015% | $5K | $13K | 10x | as long as short |
| Variational Omni TRX | −0.0031% | 8h | 0.3441 | −0.040% | $563K | $36K | — | as long as short |
| HTX TRX-USDT | −0.0019% | 8h | 0.3441 | −0.054% | $826K | $730K | 75x | as long as short |
| Bybit TRXUSDT | −0.0018% | 8h | 0.3442 | −0.003% | $54.6M | $8.1M | 75x | as long as short |
| dYdX TRX-USD | 0.0000% | 1h | 0.3443 | +0.005% | $181K | $10K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3444 | +0.043% | $121K | — | 150x | as long as short |
Injective TRX/USDC PERP
Reya TRXRUSDPERP
KuCoin TRXUSDTM
Backpack TRX_USDC_PERP
Phoenix TRX
Variational Omni TRX
HTX TRX-USDT
Bybit TRXUSDT
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-SWAPshort | +0.0025% | 8h | 0.3443 | +0.003% | $15.6M | $8.8M | 50x | |
| Extended TRX-USD | +0.0032% | 1h | 0.3442 | −0.016% | $196K | $1.1M | 25x | as long as short |
| MEXC TRX_USDT | +0.0033% | 8h | 0.3443 | +0.015% | $18.2M | $1.9M | 200x | as long as short |
| Binance TRXUSDT | +0.0034% | 8h | 0.3442 | 0.000% | $99.3M | $47.9M | 75x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0062% | 1h | 0.3444 | +0.037% | $1.9M | $1.0M | 25x | as long as short |
| Aster TRXUSDT | +0.0068% | 8h | 0.3445 | +0.066% | $956K | $659K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0073% | 8h | 0.3442 | −0.002% | $9K | $385 | 20x | as long as short |
| SoDEX TRX-USD | +0.0075% | 1h | 0.3443 | +0.003% | $403 | $5K | 5x | as long as short |
| Gate TRX_USDT | +0.0084% | 8h | 0.3442 | −0.006% | $9.6M | $2.5M | 75x | as long as short |
| Phemex TRXUSDTlong | +0.0084% | 8h | 0.3442 | long leg | $3.8M | $1.6M | 50x | |
| Aevo TRX-PERP | +0.0088% | 1h | 0.3441 | −0.051% | $33K | — | 3x | as long as short |
| Lighter TRX | +0.0088% | 1h | 0.3442 | −0.006% | $482K | $630K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0091% | 8h | 0.3443 | +0.003% | $14K | $107K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3444 | +0.061% | $13.2M | $2.2M | 10x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3443 | +0.017% | $9.5M | $2.2M | 75x | as long as short |
| BingX TRX-USDC | +0.0100% | 8h | 0.3442 | −0.003% | — | $6.5M | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3440 | −0.071% | $587K | $442K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3441 | −0.029% | $115K | $567K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3443 | +0.027% | $196K | $927K | 30x | as long as short |
| BloFin TRX-USDT | +0.0133% | 8h | 0.3443 | +0.006% | $4.6M | $4.0M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0366% / S −0.0395% | 1h | 0.3444 | +0.040% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0476% | 1h | 0.3446 | +0.111% | $832K | $417K | 25x | as long as short |
Extended TRX-USD
MEXC TRX_USDT
Binance TRXUSDT
Kraken Futures PF_TRXUSD
Aster TRXUSDT
Paradex TRX-USD-PERP
SoDEX TRX-USD
Gate TRX_USDT
Aevo TRX-PERP
Lighter TRX
Orderly PERP_TRX_USDC
Hyperliquid TRX
Bitget TRXUSDT
BingX TRX-USDC
edgeX TRXUSDC
ApeX Omni TRXUSDT
SunX TRX-USDT
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL