Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1097%/8h= +120.2% APRpaid last 24h +0.344%

Price spread now: Kraken Futures against BloFin+0.235%7-day average +0.108% · you sell dearer than you buy

Net, funding: paid 7d − costs−$706as in the Funding arb table

Net, price: spread back to 7d avg − costs−$716as in the Price arb table

costs, in and out, $10k−$7287.283% of the position

Long on BloFin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.223%+$22 on $10k

Price spread, last 4 days (all we have)−0.092%−$9 · spread now +0.235%, 7d avg +0.108%

Together, before fees+0.131%+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$33 a day on $10k at the current rate, and Kraken Futures is 0.127% dearer against BloFin than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.108%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.223% in total (about 11.6% 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	BloFin TRB-USDT	19.099	0.0144	pay 0.0072% / 4h	2h 10m	$351K	$167K	50x
Short	Kraken Futures PF_TRBUSD	19.144	0.1241	get 0.0155% / 1h	10m 46s	$103K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BloFin. 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 BloFinbpFee Kraken FuturesbpOrdersPrice spread, now +0.235%Rate

Funding earned: $230.45
Price spread: +0.235% → +0.108%: $12.66
Slippage, 4 orders: −$706.26
Fee BloFin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$485.14
Costs to cover: 7.283%
Break-even: 21.7 days

Slippage from BloFin: live order book, 6 min ago; Kraken Futures: live order book, 36 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 BloFin live order book, 6 min ago	1.31 bp	12.0 bp −$12	31.5 bp −$315	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 36 min ago	13.11 bp	43.7 bp −$44	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
Hyperliquid TRB	+0.0100%	1h	19.139	+0.209%	$477K	$269K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.115	+0.085%	$7K	$25K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.140	+0.215%	$5.0M	$11.7M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.159	+0.314%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.140	+0.215%	$4.4M	$5.3M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.129	+0.157%	$15.3M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.116	+0.089%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.150	+0.267%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.152	+0.278%	—	$18.2M	—	as long as short
BloFin TRB-USDTlong	+0.0144%	4h	19.099	long leg	$351K	$167K	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0194%	4h	19.131	+0.166%	$15K	$4K	—	as long as short
Gate TRB_USDT	+0.0320%	4h	19.130	+0.162%	$591K	$2.2M	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.1241%	1h	19.144	+0.235%	$103K	$51K	10x