Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.4363%/8h= −477.8% APRpaid last 24h −0.389%

Price spread now: OKX against Kraken Futures+0.051%7-day average −0.048% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,581as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,538as in the Price arb table

costs, in and out, $10k−$5,54855.481% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.331%−$33 on $10k

Price spread, last 4 days (all we have)+0.326%+$33 · spread now +0.051%, 7d avg −0.048%

Together, before fees−0.004%$0 on $10k · with fees, hour by hour

The price spread pays, funding is against you. OKX is 0.099% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.051% now, against its 7-day average of −0.048%): +$10 on $10k if it goes back. Holding the pair costs −$131 a day in funding at the current rate, which eats that in about 2 hours. At the pace of the last 7 days (−0.331% in total) that is about 2.1 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.331% in total (about -17.2% 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	19.240	0.4463	pay 0.0558% / 1h	1m 20s	$108K	$56K	10x
Short	OKX TRB-USDT-SWAP	19.250	0.0100	get 0.0050% / 4h	3h 01m	$4.4M	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now +0.051%Rate

Funding earned: −$916.29
Price spread: +0.051% → −0.048%: $9.89
Slippage, 4 orders: −$5,528.11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$6,454.51
Costs to cover: 55.481%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 31 min ago; OKX: live order book, 1 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, 31 min ago	34.26 bp	5432.7 bp −$5,433	19776.6 bp −$197.8K	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	2.60 bp	15.3 bp −$15	76.9 bp −$769	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	+0.0064%	4h	19.283	+0.222%	$351K	$168K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.245	+0.025%	$477K	$273K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.252	+0.062%	$2K	$29K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.247	+0.035%	$5.0M	$11.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.272	+0.165%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAPshort	+0.0100%	4h	19.250	+0.051%	$4.4M	$5.3M	20x
MEXC TRB_USDT	+0.0100%	4h	19.249	+0.045%	$15.9M	$1.2M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.288	+0.248%	$1.2M	$325K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.259	+0.097%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.260	+0.103%	—	$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	+0.0112%	4h	19.317	+0.398%	$15K	$16K	—	as long as short
Gate TRB_USDT	+0.0636%	4h	19.280	+0.207%	$581K	$2.2M	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.4463%	1h	19.240	long leg	$108K	$56K	10x