Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0907%/8h= +99.4% APRpaid last 24h +0.325%

Price spread now: Kraken Futures against Bitget−0.039%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,421as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,448as in the Price arb table

costs, in and out, $10k−$4,44144.407% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.039%, 7d avg +0.035%

Together, before fees+0.212%+$21 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.075% cheaper against Bitget than usual: you would sell low and buy high (spread −0.039% now, against its 7-day average of +0.035%). If the spread goes back, that is −$7 on $10k: about 7 hours of funding at the current rate (+$27 a day). At the pace of the last 7 days (+0.193% in total) that is about 2.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.193% in total (about 10.0% 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	Bitget TRBUSDT	19.235	0.0100	pay 0.0050% / 4h	3h 11m	$1.3M	$1.5M	50x
Short	Kraken Futures PF_TRBUSD	19.227	0.1007	get 0.0126% / 1h	11m 24s	$102K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now −0.039%Rate

Funding earned: $190.56
Price spread: −0.039% → +0.035%: −$7.47
Slippage, 4 orders: −$4,418.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,257.59
Costs to cover: 44.407%
Break-even: 163.4 days

Slippage from Bitget: live order book, 5 min ago; Kraken Futures: live order book, 41 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 Bitget live order book, 5 min ago	5.44 bp	21.4 bp −$21	45.7 bp −$457	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 41 min ago	25.64 bp	53.2 bp −$53	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	19.215	−0.104%	$478K	$264K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.217	−0.096%	$9K	$22K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.208	−0.140%	$5.1M	$11.1M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.230	−0.026%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.210	−0.130%	$4.4M	$5.2M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	19.240	+0.026%	$575K	$2.0M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.207	−0.146%	$15.4M	$1.0M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.236	+0.005%	$1.2M	$321K	50x	as long as short
Bitget TRBUSDTlong	+0.0100%	4h	19.235	long leg	$1.3M	$1.5M	50x
BingX TRB-USDT	+0.0100%	4h	19.223	−0.062%	—	$18.1M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0100%	4h	19.285	+0.261%	$15K	$4K	—	as long as short
BloFin TRB-USDT	+0.0150%	4h	19.241	+0.031%	$364K	$172K	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.1007%	1h	19.227	−0.039%	$102K	$99K	10x