Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1464%/8h= +160.3% APRpaid last 24h +0.370%

Price spread now: Kraken Futures against BingX+0.084%7-day average +0.031% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4,535as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,555as in the Price arb table

costs, in and out, $10k−$4,56145.606% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.256%+$26 on $10k

Price spread, last 4 days (all we have)−0.101%−$10 · spread now +0.084%, 7d avg +0.031%

Together, before fees+0.155%+$15 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Kraken Futures is 0.053% dearer against BingX than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of +0.031%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.256% in total (about 13.4% 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	BingX TRB-USDT	19.150	0.0100	pay 0.0050% / 4h	1h 36m	—	$5.0M	—
Short	Kraken Futures PF_TRBUSD	19.166	0.1564	get 0.0195% / 1h	36m 11s	$103K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.084%Rate

Funding earned: $307.39
Price spread: +0.084% → +0.031%: $5.29
Slippage, 4 orders: −$4,540.6
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,247.92
Costs to cover: 45.606%
Break-even: 103.7 days

Slippage from BingX: live order book, 7 min ago; Kraken Futures: live order book, 6 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 BingX live order book, 7 min ago	4.43 bp	20.9 bp −$21	52.5 bp −$525	281.8 bp −$28.2K	350.6 bp −$175.3K
Sell Kraken Futures live order book, 6 min ago	10.42 bp	41.3 bp −$41	doesn't fit	doesn't fit	doesn't fit

TRB on 13 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
Hyperliquid TRB	+0.0100%	1h	19.141	−0.047%	$475K	$274K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.152	+0.010%	$7K	$25K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.144	−0.031%	$5.0M	$11.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.170	+0.104%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.140	−0.052%	$4.4M	$5.3M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	19.160	+0.052%	$569K	$2.2M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.131	−0.099%	$15.4M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.163	+0.068%	$1.2M	$333K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.157	+0.037%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDTlong	+0.0100%	4h	19.150	long leg	—	$5.0M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0100%	4h	19.190	+0.210%	$15K	$4K	—	as long as short
BloFin TRB-USDT	+0.0139%	4h	19.166	+0.084%	$356K	$167K	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.1564%	1h	19.166	+0.084%	$103K	$51K	10x