Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.4173%/8h= +456.9% APRpaid last 24h +0.367%

Price spread now: Kraken Futures against Gate+0.261%51s7-day average +0.025% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,709as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$5,74057.401% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.313%+$31 on $10k

Price spread, last 4 days (all we have)−0.638%−$64 · spread now +0.261%, 7d avg +0.025%

Together, before fees−0.324%−$32 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$125 a day on $10k at the current rate, and Kraken Futures is 0.236% dearer against Gate than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of +0.025%. The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.313% in total (about 16.3% 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	Gate TRB_USDT	19.140	0.0302	pay 0.0151% / 4h	3h 42m	$554K	$2.1M	50x
Short	Kraken Futures PF_TRBUSD	19.190	0.4475	get 0.0559% / 1h	42m 22s	$103K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.261%Rate

Funding earned: $876.33
Price spread: +0.261% → +0.025%: $23.57
Slippage, 4 orders: −$5,715.13
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,840.23
Costs to cover: 57.401%
Break-even: 45.7 days

Slippage from Gate: live order book, 5 min ago; Kraken Futures: live order book, 55 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 Gate live order book, 5 min ago	5.21 bp	13.0 bp −$13	23.1 bp −$231	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 55 min ago	72.92 bp	109.9 bp −$110	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	19.130	−0.052%	$475K	$273K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.112	−0.145%	$6K	$26K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.111	−0.152%	$5.0M	$11.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.126	−0.073%	$6.2M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.130	−0.052%	$4.4M	$5.3M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.114	−0.136%	$15.7M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.140	0.000%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.138	−0.010%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.118	−0.115%	—	$5.0M	—	as long as short
BloFin TRB-USDT	+0.0114%	4h	19.133	−0.037%	$351K	$166K	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 TRB	+0.0166%	4h	19.193	+0.279%	$15K	$16K	—	as long as short
Gate TRB_USDTlong	+0.0302%	4h	19.140	long leg	$554K	$2.1M	50x
Kraken Futures PF_TRBUSDshort	+0.4475%	1h	19.190	+0.261%	$103K	$51K	10x