Funding you earn now, next payment 08:00 UTC−0.0087%/8h= −9.6% APRnext payment −$0.11 per $10,000 · paid last 24h −0.020%
Price spread now: Reya against Phoenix−0.084%7-day average — · you buy dearer than you sell
to open and closeno order booka leg has no order-book sample
Funding, last 4 days (all we have)—no history yet
+Price spread, last 7 days—no price history on both exchanges yet
=Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and Reya is 0.084% cheaper against Phoenix than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.
| Leg | Exchange | Price | Funding /8h | Each payment | Next in | OI | Vol 24h | Max lev |
|---|---|---|---|---|---|---|---|---|
| Long | Phoenix TRX | 0.3485 | −0.0046 | get 0.0006% / 1h | 30m 40s | $5K | $14K | 10x |
| Short | Reya TRXRUSDPERP | 0.3482 | −0.0133 | pay 0.0017% / 1h | 30m 40s | $5 | — | 20x |
Phoenix TRX
Reya TRXRUSDPERPFunding history
latest
Range statsloading…
Price spread between the two exchanges
Reya against Phoenix. 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
- −$18.33
- Price spread: −0.084% → 0.000%
- −$8.39
- Slippage, 4 orders
- no order book: not counted
- Fee Phoenix: 3.5 bp × 2 orders
- −$7
- Fee Reya: 3 bp × 2 orders
- −$6
- Net
- −$39.72
- Costs to cover
- 0.130%
- Break-even
- never at this rate
Slippage unknown: Phoenix: no order-book sample; Reya: no order-book sample. 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 Reya no order-book sample | — | — | — | — | — |
Phoenix and Reya: 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 | |
|---|---|---|---|---|---|---|---|---|
| HTX TRX-USDT | −0.0214% | 8h | 0.3481 | −0.107% | $834K | $956K | 75x | as long as short |
| Reya TRXRUSDPERPshort | −0.0133% | 1h | 0.3482 | −0.084% | $5 | — | 20x | |
| Phoenix TRXlong | −0.0046% | 1h | 0.3485 | long leg | $5K | $14K | 10x | |
| dYdX TRX-USD | 0.0000% | 1h | 0.3483 | −0.042% | $183K | $12K | 10x | as long as short |
| gTrade (Gains Network) TRX/USD | L +0.0003% / S −0.0007% | 1h | 0.3483 | −0.051% | $126K | — | 150x | as long as short |
| Kraken Futures PF_TRXUSD | +0.0020% | 1h | 0.3483 | −0.050% | $2.4M | $1.9M | 25x | as long as short |
| Injective TRX/USDC PERP | +0.0033% | 1h | 0.3441 | −1.260% | $1K | $163K | 12x | as long as short |
| Backpack TRX_USDC_PERP | +0.0042% | 1h | 0.3482 | −0.086% | $62K | $5K | 10x | as long as short |
| BingX TRX-USDC | +0.0047% | 8h | 0.3482 | −0.075% | — | $6.5M | — | as long as short |
| Bybit TRXUSDT | +0.0065% | 8h | 0.3481 | −0.106% | $53.5M | $12.8M | 75x | as long as short |
HTX TRX-USDT
dYdX TRX-USD
gTrade (Gains Network) TRX/USD
Kraken Futures PF_TRXUSD
Injective TRX/USDC PERP
Backpack TRX_USDC_PERP
BingX TRX-USDC
Bybit TRXUSDTShow all 32 venues
| Exchange | Funding /8h | Every | Price | Price vs long leg | OI | Vol 24h | Max lev | |
|---|---|---|---|---|---|---|---|---|
| Aster TRXUSDT | +0.0072% | 8h | 0.3479 | −0.178% | $967K | $771K | 75x | as long as short |
| Paradex TRX-USD-PERP | +0.0095% | 8h | 0.3481 | −0.108% | $9K | $171 | 20x | as long as short |
| Lighter TRX | +0.0096% | 1h | 0.3482 | −0.083% | $488K | $672K | 10x | as long as short |
| Orderly PERP_TRX_USDC | +0.0099% | 8h | 0.3483 | −0.069% | $14K | $63K | 20x | as long as short |
| Hyperliquid TRX | +0.0100% | 1h | 0.3486 | +0.030% | $13.4M | $2.8M | 10x | as long as short |
| Binance TRXUSDT | +0.0100% | 8h | 0.3482 | −0.085% | $107.0M | $65.3M | 75x | as long as short |
| OKX TRX-USDT-SWAP | +0.0100% | 8h | 0.3482 | −0.077% | $15.6M | $11.0M | 50x | as long as short |
| Gate TRX_USDT | +0.0100% | 8h | 0.3482 | −0.077% | $9.6M | $3.3M | 75x | as long as short |
| MEXC TRX_USDT | +0.0100% | 8h | 0.3482 | −0.075% | $19.0M | $2.3M | 200x | as long as short |
| KuCoin TRXUSDTM | +0.0100% | 8h | 0.3483 | −0.063% | $8.5M | $3.3M | 75x | as long as short |
| Bitget TRXUSDT | +0.0100% | 8h | 0.3482 | −0.098% | $9.7M | $4.4M | 75x | as long as short |
| Variational Omni TRX | +0.0100% | 8h | 0.3482 | −0.085% | $577K | $37K | — | as long as short |
| edgeX TRXUSDC | +0.0100% | 4h | 0.3484 | −0.038% | $594K | $503K | 20x | as long as short |
| ApeX Omni TRXUSDT | +0.0100% | 1h | 0.3485 | −0.009% | $116K | $616K | 50x | as long as short |
| SunX TRX-USDT | +0.0100% | 8h | 0.3481 | −0.122% | $198K | $1.4M | 30x | as long as short |
| SoDEX TRX-USD | +0.0100% | 1h | 0.3482 | −0.072% | $405 | $5K | 5x | as long as short |
| Phemex TRXUSDT | +0.0100% | 8h | 0.3483 | −0.057% | $3.9M | $2.0M | 50x | as long as short |
| Extended TRX-USD | +0.0104% | 1h | 0.3481 | −0.117% | $204K | $1.2M | 25x | as long as short |
| Aevo TRX-PERP | +0.0104% | 1h | 0.3480 | −0.128% | $34K | — | 3x | as long as short |
| BloFin TRX-USDT | +0.0220% | 8h | 0.3483 | −0.063% | $4.8M | $4.1M | 50x | as long as short |
| GMX TRX/USD [ETH-USDC] | L +0.0411% / S −0.0492% | 1h | 0.3483 | −0.048% | $20K | — | 100x | as long as short |
| Deribit TRX_USDC-PERPETUAL | +0.0445% | 1h | 0.3486 | +0.025% | $819K | $744K | 25x | as long as short |
Aster TRXUSDT
Paradex TRX-USD-PERP
Lighter TRX
Orderly PERP_TRX_USDC
Hyperliquid TRX
Binance 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
Phemex TRXUSDT
Extended TRX-USD
Aevo TRX-PERP
BloFin TRX-USDT
GMX TRX/USD [ETH-USDC]
Deribit TRX_USDC-PERPETUAL