Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.4321%/8h= −473.2% APRpaid last 24h −0.367%

Price spread now: Gate against Kraken Futures−0.436%7-day average −0.025% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5,572as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,582as in the Price arb table

costs, in and out, $10k−$5,54155.406% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.313%−$31 on $10k

Price spread, last 4 days (all we have)+0.813%+$81 · spread now −0.436%, 7d avg −0.025%

Together, before fees+0.500%+$50 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$130 a day on $10k at the current rate, and Gate is 0.411% cheaper against Kraken Futures than usual: you would sell low and buy high (−$41 if the spread goes back to its 7-day average of −0.025%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.313% in total (about -16.3% 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	Kraken Futures PF_TRBUSD	19.214	0.4469	pay 0.0559% / 1h	22m 16s	$105K	$53K	10x
Short	Gate TRB_USDT	19.130	0.0148	get 0.0074% / 4h	3h 22m	$555K	$2.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now −0.436%Rate

Funding earned: −$907.49
Price spread: −0.436% → −0.025%: −$41.15
Slippage, 4 orders: −$5,515.63
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$6,489.27
Costs to cover: 55.406%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 10 min ago; Gate: live order book, 5 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 Kraken Futures live order book, 10 min ago	34.26 bp	5432.7 bp −$5,433	19776.6 bp −$197.8K	doesn't fit	doesn't fit
Sell Gate live order book, 5 min ago	5.28 bp	13.7 bp −$14	23.3 bp −$233	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	+0.0076%	4h	19.079	−0.702%	$355K	$165K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.163	−0.265%	$475K	$273K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.154	−0.313%	$2K	$29K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.158	−0.291%	$5.0M	$11.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.194	−0.103%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.150	−0.332%	$4.3M	$5.4M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.145	−0.358%	$15.8M	$1.2M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.141	−0.379%	$1.2M	$335K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.159	−0.285%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.149	−0.337%	—	$5.0M	—	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	18.966	−1.291%	$15K	$16K	—	as long as short
Gate TRB_USDTshort	+0.0148%	4h	19.130	−0.436%	$555K	$2.1M	50x
Kraken Futures PF_TRBUSDlong	+0.4469%	1h	19.214	long leg	$105K	$53K	10x