Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0905%/8h= −99.1% APRpaid last 24h −0.179%

Price spread now: Variational Omni against Kraken Futures−0.223%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Kraken Futures Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$27 a day on $10k at the current rate, and Variational Omni is 0.223% cheaper against Kraken Futures than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRBUSD	19.215	0.1136	pay 0.0142% / 1h	2m 00s	$102K	$99K	10x
Short	Variational Omni TRB	19.172	0.0231	get 0.0116% / 4h	2m 00s	$15K	$4K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now −0.223%Rate

Funding earned: −$190.05
Price spread: −0.223% → 0.000%: −$22.33
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$222.38
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Kraken Futures: live order book, 10 min ago; Variational Omni: no order-book sample. Net counts fees only.

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	18.29 bp	4483.1 bp −$4,483	19208.3 bp −$192.1K	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Hyperliquid TRB	+0.0100%	1h	19.187	−0.145%	$483K	$229K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.168	−0.241%	$9K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.166	−0.254%	$5.1M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.200	−0.077%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.180	−0.181%	$4.4M	$4.7M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.163	−0.270%	$14.6M	$922K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.185	−0.155%	$1.1M	$303K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.185	−0.155%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.188	−0.140%	—	$16.4M	—	as long as short
BloFin TRB-USDT	+0.0156%	4h	19.195	−0.103%	$358K	$173K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRBshort	+0.0231%	4h	19.172	−0.223%	$15K	$4K	—
Gate TRB_USDT	+0.0370%	4h	19.190	−0.129%	$595K	$1.5M	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.1136%	1h	19.215	long leg	$102K	$99K	10x