Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Hyperliquid against KuCoin+0.016%7-day average −0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$229as in the Funding arb table

Net, price: spread back to 7d avg − costs−$221as in the Price arb table

costs, in and out, $10k−$2292.287% of the position

Long on KuCoin Short on Hyperliquid

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)−0.147%−$15 · spread now +0.016%, 7d avg −0.064%

Together, before fees−0.147%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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: Hyperliquid is 0.080% dearer against KuCoin than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of −0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRBUSDTM	19.244	0.0100	pay 0.0050% / 4h	56m 59s	$1.1M	$302K	50x
Short	Hyperliquid TRB	19.247	0.0100	get 0.0013% / 1h	56m 59s	$485K	$228K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.016%Rate

Funding earned: $0
Price spread: +0.016% → −0.064%: $7.97
Slippage, 4 orders: −$207.71
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$220.75
Costs to cover: 2.287%
Break-even: never at this rate

Slippage from KuCoin: live order book, 8 min ago; Hyperliquid: live order book, 13 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 KuCoin live order book, 8 min ago	7.32 bp	118.6 bp −$119	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 13 min ago	0.26 bp	21.9 bp −$22	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	+0.0051%	4h	19.203	−0.213%	$359K	$174K	50x	as long as short
Hyperliquid TRBshort	+0.0100%	1h	19.247	+0.016%	$485K	$228K	3x
Aster TRBUSDT	+0.0100%	4h	19.227	−0.089%	$9K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.214	−0.157%	$5.1M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.244	0.000%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.230	−0.073%	$4.4M	$4.7M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.219	−0.130%	$14.6M	$913K	125x	as long as short
KuCoin TRBUSDTMlong	+0.0100%	4h	19.244	long leg	$1.1M	$302K	50x
Bitget TRBUSDT	+0.0100%	4h	19.251	+0.036%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.224	−0.104%	—	$16.5M	—	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	+0.0141%	4h	19.216	−0.146%	$14K	$3K	—	as long as short
Gate TRB_USDT	+0.0272%	4h	19.230	−0.073%	$580K	$1.5M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1132%	1h	19.278	+0.179%	$102K	$99K	10x	as long as short