Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0640%/8h= +70.1% APRpaid last 24h +0.227%

Price spread now: Kraken Futures against Gate−0.017%7-day average +0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3,307as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,322as in the Price arb table

costs, in and out, $10k−$3,31933.188% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.113%+$11 on $10k

Price spread, last 3 days (all we have)+0.015%+$2 · spread now −0.017%, 7d avg +0.020%

Together, before fees+0.128%+$13 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.037% cheaper against Gate than usual: you would sell low and buy high (spread −0.017% now, against its 7-day average of +0.020%). If the spread goes back, that is −$4 on $10k: about 5 hours of funding at the current rate (+$19 a day). At the pace of the last 7 days (+0.113% in total) that is about 2.3 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.113% in total (about 5.9% 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	Gate TRB_USDT	19.270	0.0822	pay 0.0411% / 4h	2h 50m	$638K	$1.6M	50x
Short	Kraken Futures PF_TRBUSD	19.267	0.1462	get 0.0183% / 1h	50m 41s	$102K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now −0.017%Rate

Funding earned: $134.5
Price spread: −0.017% → +0.020%: −$3.66
Slippage, 4 orders: −$3,293.8
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$3,187.96
Costs to cover: 33.188%
Break-even: 172.9 days

Slippage from Gate: live order book, 2 min ago; Kraken Futures: live order book, 16 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 Gate live order book, 2 min ago	5.19 bp	12.7 bp −$13	21.8 bp −$218	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 16 min ago	17.97 bp	35.7 bp −$36	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-USDT	+0.0098%	4h	19.254	−0.083%	$364K	$184K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.275	+0.026%	$498K	$240K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.190	−0.415%	$9K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.254	−0.084%	$5.1M	$10.4M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.286	+0.083%	$6.4M	$2.0M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.270	0.000%	$4.4M	$4.8M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.252	−0.093%	$15.0M	$990K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.243	−0.140%	$1.2M	$308K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.279	+0.047%	$1.3M	$1.4M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.243	−0.140%	—	$16.3M	—	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	+0.0330%	4h	19.261	−0.047%	$15K	$4K	—	as long as short
Gate TRB_USDTlong	+0.0822%	4h	19.270	long leg	$638K	$1.6M	50x
Kraken Futures PF_TRBUSDshort	+0.1462%	1h	19.267	−0.017%	$102K	$99K	10x