Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0146%/8h= +16.0% APRpaid last 24h +0.045%

Price spread now: edgeX against Phoenix−0.081%7-day average — · you buy dearer than you sell

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

Long on Phoenix Short on edgeX

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

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

Funding pays, the price is against you. edgeX is 0.081% cheaper against Phoenix than usual: you would sell low and buy high (spread −0.081% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 44 hours of funding at the current rate (+$4 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Phoenix TRX	0.3475	−0.0046	get 0.0006% / 1h	2m 07s	$5K	$14K	10x
Short	edgeX TRXUSDC	0.3472	0.0100	get 0.0050% / 4h	2h 02m	$592K	$463K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

edgeX against Phoenix. 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 PhoenixbpFee edgeXbpOrdersPrice spread, now −0.081%Rate

Funding earned: $30.71
Price spread: −0.081% → 0.000%: −$8.13
Slippage, 4 orders: no order book: not counted
Fee Phoenix: 3.5 bp × 2 orders: −$7
Fee edgeX: 4.5 bp × 2 orders: −$9
Net: $6.57
Costs to cover: 0.160%
Break-even: 5.5 days

Slippage unknown: Phoenix: no order-book sample; edgeX: live order book, 2 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 Phoenix no order-book sample	—	—	—	—	—
Sell edgeX live order book, 2 min ago	0.72 bp	5.2 bp −$5	6.9 bp −$69	doesn't fit	doesn't fit

Phoenix: 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 31 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	0.3478	+0.077%	$5	—	20x	as long as short
Phoenix TRXlong	−0.0046%	1h	0.3475	long leg	$5K	$14K	10x
dYdX TRX-USD	0.0000%	1h	0.3478	+0.091%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3478	+0.073%	$122K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−0.984%	$1K	$163K	12x	as long as short
KuCoin TRXUSDTM	+0.0050%	8h	0.3478	+0.089%	$8.7M	$3.5M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0084%	1h	0.3477	+0.043%	$59K	$4K	10x	as long as short
Lighter TRX	+0.0096%	1h	0.3477	+0.063%	$485K	$663K	10x	as long as short
Orderly PERP_TRX_USDC	+0.0097%	8h	0.3477	+0.052%	$14K	$122K	20x	as long as short
Paradex TRX-USD-PERP	+0.0098%	8h	0.3477	+0.057%	$9K	$251	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3479	+0.112%	$13.0M	$2.5M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3478	+0.071%	$961K	$673K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3478	+0.072%	$103.5M	$53.8M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3478	+0.081%	$54.2M	$10.6M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3478	+0.092%	$15.6M	$9.0M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3478	+0.078%	$9.7M	$2.8M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3478	+0.066%	$19.0M	$2.1M	200x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3478	+0.095%	$10.3M	$3.3M	75x	as long as short
BingX TRX-USDC	+0.0100%	8h	0.3478	+0.083%	—	$6.5M	—	as long as short
Variational Omni TRX	+0.0100%	8h	0.3473	−0.066%	$567K	$36K	—	as long as short
edgeX TRXUSDCshort	+0.0100%	4h	0.3472	−0.081%	$592K	$463K	20x
ApeX Omni TRXUSDT	+0.0100%	1h	0.3472	−0.086%	$115K	$562K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3473	−0.064%	$197K	$1.1M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3478	+0.078%	$408	$5K	5x	as long as short
HTX TRX-USDT	+0.0100%	8h	0.3475	+0.007%	$838K	$814K	75x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3478	+0.078%	$3.9M	$1.7M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3478	+0.069%	$194K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3476	+0.012%	$34K	—	3x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0403% / S −0.0481%	1h	0.3477	+0.056%	$20K	—	100x	as long as short
Kraken Futures PF_TRXUSD	+0.0523%	1h	0.3479	+0.107%	$2.3M	$1.6M	25x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0722%	1h	0.3481	+0.171%	$816K	$478K	25x	as long as short