Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1047%/8h= +114.7% APRpaid last 24h +0.300%

Price spread now: Kraken Futures against BloFin+0.180%57s7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2,252as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$2,27022.695% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.172%+$17 on $10k

Price spread, last 4 days (all we have)−0.007%−$1 · spread now +0.180%, 7d avg +0.111%

Together, before fees+0.166%+$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$31 a day on $10k at the current rate, and Kraken Futures is 0.068% dearer against BloFin than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.111%. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.172% in total (about 9.0% 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	BloFin TRB-USDT	19.196	0.0055	pay 0.0027% / 4h	41m 56s	$369K	$171K	50x
Short	Kraken Futures PF_TRBUSD	19.230	0.1102	get 0.0138% / 1h	41m 56s	$102K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.180%Rate

Funding earned: $219.91
Price spread: +0.180% → +0.111%: $6.82
Slippage, 4 orders: −$2,247.51
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$2,042.77
Costs to cover: 22.695%
Break-even: 72.0 days

Slippage from BloFin: live order book, 55 min ago; Kraken Futures: live order book, 15 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 BloFin live order book, 55 min ago	1.03 bp	12.0 bp −$12	35.0 bp −$350	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 15 min ago	20.69 bp	43.9 bp −$44	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
BloFin TRB-USDTlong	+0.0055%	4h	19.196	long leg	$369K	$171K	50x
Hyperliquid TRB	+0.0100%	1h	19.212	+0.083%	$487K	$253K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.214	+0.092%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.196	0.000%	$5.2M	$10.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.232	+0.188%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.190	−0.031%	$4.5M	$5.0M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.196	0.000%	$15.3M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.216	+0.104%	$1.2M	$308K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.219	+0.120%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.219	+0.120%	—	$16.2M	—	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	19.192	−0.021%	$15K	$4K	—	as long as short
Gate TRB_USDT	+0.0264%	4h	19.210	+0.073%	$591K	$1.9M	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.1102%	1h	19.230	+0.180%	$102K	$99K	10x