Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid−0.140%7-day average +0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$257as in the Funding arb table

Net, price: spread back to 7d avg − costs−$276as in the Price arb table

costs, in and out, $10k−$2572.565% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.290%+$29 · spread now −0.140%, 7d avg +0.059%

Together, before fees+0.291%+ Points / potential airdropHyperliquid: Season 2 · farm board+$29 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.199% cheaper against Hyperliquid than usual: you would sell low and buy high, −$20 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.279	0.0100	pay 0.0013% / 1h	2m 59s	$482K	$260K	3x
Short	KuCoin TRBUSDTM	19.252	0.0100	get 0.0050% / 4h	2m 59s	$1.2M	$316K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. 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 HyperliquidbpFee KuCoinbpOrdersPrice spread, now −0.140%Rate

Funding earned: $0
Price spread: −0.140% → +0.059%: −$19.89
Slippage, 4 orders: −$235.54
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$276.43
Costs to cover: 2.565%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 27 min ago; KuCoin: live order book, 2 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 Hyperliquid live order book, 27 min ago	2.33 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	10.14 bp	103.3 bp −$103	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	+0.0041%	4h	19.244	−0.182%	$366K	$171K	50x	as long as short
Hyperliquid TRBlong	+0.0100%	1h	19.279	long leg	$482K	$260K	3x
Aster TRBUSDT	+0.0100%	4h	19.249	−0.158%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.276	−0.014%	$5.2M	$11.0M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.288	+0.047%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.290	+0.057%	$4.4M	$5.2M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.276	−0.016%	$15.5M	$1.1M	125x	as long as short
KuCoin TRBUSDTMshort	+0.0100%	4h	19.252	−0.140%	$1.2M	$316K	50x
Bitget TRBUSDT	+0.0100%	4h	19.264	−0.078%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.268	−0.057%	—	$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	19.250	−0.152%	$15K	$4K	—	as long as short
Gate TRB_USDT	+0.0212%	4h	19.260	−0.099%	$573K	$2.0M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1097%	1h	19.326	+0.244%	$103K	$99K	10x	as long as short