Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0413%/8h= +45.2% APRpaid last 24h +0.090%

Price spread now: Deribit against SunX+0.152%7-day average +0.166% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$56as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on SunX Short on Deribit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.025%+$3 · spread now +0.152%, 7d avg +0.166%

Together, before fees+0.029%+$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.166%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.003% in total (about 0.2% 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	SunX TRX-USDT	0.3484	0.0100	pay 0.0100% / 8h	7h 03m	$198K	$1.4M	30x
Short	Deribit TRX_USDC-PERPETUAL	0.3489	0.0513	get 0.0064% / 1h	3m 08s	$808K	$768K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Deribit against SunX. 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 SunXbpFee DeribitbpOrdersPrice spread, now +0.152%Rate

Funding earned: $86.71
Price spread: +0.152% → +0.166%: −$1.35
Slippage, 4 orders: −$39.32
Fee SunX: 4 bp × 2 orders: −$8
Fee Deribit: 3.5 bp × 2 orders: −$7
Net: $31.04
Costs to cover: 0.543%
Break-even: 4.5 days

Slippage from SunX: live order book, 11 min ago; Deribit: live order book, 31 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 SunX live order book, 11 min ago	15.15 bp	23.8 bp −$24	31.3 bp −$313	doesn't fit	doesn't fit
Sell Deribit live order book, 31 min ago	0.14 bp	3.6 bp −$4	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
HTX TRX-USDT	−0.0156%	8h	0.3485	+0.035%	$835K	$933K	75x	as long as short
Reya TRXRUSDPERP	−0.0133%	1h	0.3485	+0.043%	$5	—	20x	as long as short
Aster TRXUSDT	−0.0081%	8h	0.3482	−0.045%	$969K	$879K	75x	as long as short
Phoenix TRX	−0.0046%	1h	0.3485	+0.021%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3486	+0.067%	$183K	$12K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0007%	1h	0.3486	+0.069%	$126K	—	150x	as long as short
Kraken Futures PF_TRXUSD	+0.0020%	1h	0.3487	+0.086%	$2.4M	$1.7M	25x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.234%	$1K	$163K	12x	as long as short
Backpack TRX_USDC_PERP	+0.0062%	1h	0.3485	+0.029%	$62K	$5K	10x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3486	+0.064%	—	$32.5M	—	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Lighter TRX	+0.0096%	1h	0.3486	+0.049%	$489K	$672K	10x	as long as short
Paradex TRX-USD-PERP	+0.0097%	8h	0.3485	+0.027%	$9K	$61	20x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3486	+0.044%	$14K	$71K	20x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3486	+0.058%	$107.2M	$64.6M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3487	+0.087%	$53.5M	$12.8M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3486	+0.064%	$15.6M	$11.1M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3486	+0.055%	$9.6M	$3.4M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3486	+0.055%	$18.9M	$2.4M	200x	as long as short
KuCoin TRXUSDTM	+0.0100%	8h	0.3486	+0.055%	$8.5M	$3.3M	75x	as long as short
Bitget TRXUSDT	+0.0100%	8h	0.3485	+0.041%	$9.7M	$4.4M	75x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3483	−0.030%	$577K	$36K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3483	−0.042%	$594K	$503K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3483	−0.022%	$117K	$616K	50x	as long as short
SunX TRX-USDTlong	+0.0100%	8h	0.3484	long leg	$198K	$1.4M	30x
SoDEX TRX-USD	+0.0100%	1h	0.3486	+0.055%	$407	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3486	+0.058%	$3.9M	$2.0M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3485	+0.033%	$204K	$1.2M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3484	−0.004%	$34K	—	3x	as long as short
BloFin TRX-USDT	+0.0220%	8h	0.3486	+0.052%	$4.8M	$4.1M	50x	as long as short
Hyperliquid TRX	+0.0229%	1h	0.3491	+0.187%	$13.6M	$2.8M	10x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0409% / S −0.0492%	1h	0.3486	+0.055%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUALshort	+0.0513%	1h	0.3489	+0.152%	$808K	$768K	25x