Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1345%/8h= −147.3% APRpaid last 24h −0.246%

Price spread now: MEXC against Kraken Futures−0.282%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,423as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,429as in the Price arb table

costs, in and out, $10k−$4,41244.116% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 3 days (all we have)+0.210%+$21 · spread now −0.282%, 7d avg −0.110%

Together, before fees+0.098%+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$40 a day on $10k at the current rate, and MEXC is 0.172% cheaper against Kraken Futures than usual: you would sell low and buy high (−$17 if the spread goes back to its 7-day average of −0.110%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.112% 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	Kraken Futures PF_TRBUSD	19.501	0.1445	pay 0.0181% / 1h	1m 16s	$104K	$99K	10x
Short	MEXC TRB_USDT	19.446	0.0100	get 0.0050% / 4h	2h 01m	$15.3M	$1.0M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.282%Rate

Funding earned: −$282.43
Price spread: −0.282% → −0.110%: −$17.16
Slippage, 4 orders: −$4,397.61
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$4,711.2
Costs to cover: 44.116%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; MEXC: 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 Kraken Futures live order book, 1 min ago	30.78 bp	4343.8 bp −$4,344	18726.6 bp −$187.3K	doesn't fit	doesn't fit
Sell MEXC live order book, 2 min ago	2.32 bp	12.5 bp −$13	41.3 bp −$413	61.7 bp −$6,171	126.7 bp −$63.4K

TRB on 12 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	19.463	−0.195%	$503K	$241K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.449	−0.266%	$9K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.449	−0.266%	$5.2M	$10.4M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.475	−0.133%	$6.4M	$2.0M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.470	−0.159%	$4.5M	$4.9M	20x	as long as short
MEXC TRB_USDTshort	+0.0100%	4h	19.446	−0.282%	$15.3M	$1.0M	125x
KuCoin TRBUSDTM	+0.0100%	4h	19.442	−0.302%	$1.2M	$307K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.452	−0.251%	$1.3M	$1.4M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.458	−0.220%	—	$16.3M	—	as long as short
Variational Omni TRB	+0.0397%	4h	19.399	−0.525%	$15K	$4K	—	as long as short

Show all 12 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate TRB_USDT	+0.1064%	4h	19.480	−0.107%	$608K	$1.7M	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.1445%	1h	19.501	long leg	$104K	$99K	10x