Bethany Marie Hill, 20, was found “drenched” in her own blood in the bathroom of her ground-floor flat on February 2 last year.
She had been tied up with duct tape and had repeated cuts inflicted to the back of her neck before she bled to death when her jugular vein was cut, Warwick Crown Court was told.
Ms Hill was living in a flat in Stratford-upon-Avon, Warks., with ex-partner Jack Williams, 21, and his transgender girlfriend Kayleigh Woods, 23, when she was killed.
The couple killed Ms Hill between 1am and 6am before trying to cover their tracks by saying she had committed suicide by drinking bleach, jurors were told.
Stephen Linehan QC, prosecuting, told the jury the “sadistic killing” may have been carried out for “perverted pleasure”.
He added: “Only those two defendants known precisely what happened, only they know precisely what role each other played.
“They have never told the truth. Each of them has spun a web of lies in order to conceal the truth.
“The evidence does show that the murder was not done quickly.”
Woods – who was born a boy called Kyle Lockwood – had met Ms Hill at Stratford College and they had become best friends.
Woods was then introduced to dad-of-one Williams and had a sexual relationship with him, despite still having male genitals, the court heard.
Woods and Williams, both of Stratford-upon-Avon, deny murder.
The trial continues.
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