Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid+0.224%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$162as in the Price arb table

costs, in and out, $10k−$1791.787% of the position

Long on Hyperliquid Short on KuCoin

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)−0.073%−$7 · spread now +0.224%, 7d avg +0.059%

Together, before fees−0.073%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 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: KuCoin is 0.165% dearer against Hyperliquid than usual: you sell high and buy low, +$16 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.233	0.0100	pay 0.0013% / 1h	18m 43s	$481K	$259K	3x
Short	KuCoin TRBUSDTM	19.276	0.0100	get 0.0050% / 4h	18m 43s	$1.2M	$309K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. 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 HyperliquidbpFee KuCoinbpOrdersPrice spread, now +0.224%Rate

Funding earned: $0
Price spread: +0.224% → +0.059%: $16.48
Slippage, 4 orders: −$157.67
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$162.2
Costs to cover: 1.787%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; KuCoin: 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 Hyperliquid live order book, 11 min ago	2.33 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 1 min ago	7.78 bp	87.1 bp −$87	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	+0.0064%	4h	19.265	+0.166%	$368K	$171K	50x	as long as short
Hyperliquid TRBlong	+0.0100%	1h	19.233	long leg	$481K	$259K	3x
Aster TRBUSDT	+0.0100%	4h	19.254	+0.110%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.237	+0.021%	$5.2M	$10.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.264	+0.161%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.240	+0.036%	$4.4M	$5.1M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.238	+0.026%	$15.5M	$1.1M	125x	as long as short
KuCoin TRBUSDTMshort	+0.0100%	4h	19.276	+0.224%	$1.2M	$309K	50x
Bitget TRBUSDT	+0.0100%	4h	19.250	+0.088%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.277	+0.229%	—	$16.2M	—	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	+0.0100%	4h	19.298	+0.338%	$15K	$4K	—	as long as short
Gate TRB_USDT	+0.0266%	4h	19.280	+0.244%	$583K	$1.9M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1100%	1h	19.270	+0.193%	$102K	$99K	10x	as long as short