Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1083%/8h= −118.6% APRpaid last 24h −0.466%

Price spread now: Binance against Kraken Futures−0.129%7-day average −0.111% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,810as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,770as in the Price arb table

costs, in and out, $10k−$4,76947.685% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.417%−$42 on $10k

Price spread, last 4 days (all we have)+0.061%+$6 · spread now −0.129%, 7d avg −0.111%

Together, before fees−0.356%−$36 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.111%, so right now this pair is about funding alone: −$32 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.417% in total (about -21.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_TRBUSD	18.930	0.1183	pay 0.0148% / 1h	27m 35s	$104K	$58K	10x
Short	Binance TRBUSDT	18.905	0.0100	get 0.0050% / 4h	1h 27m	$4.9M	$10.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.129%Rate

Funding earned: −$227.47
Price spread: −0.129% → −0.111%: −$1.86
Slippage, 4 orders: −$4,748.52
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$4,997.85
Costs to cover: 47.685%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 17 min ago; Binance: live order book, 5 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 Kraken Futures live order book, 17 min ago	23.70 bp	4686.2 bp −$4,686	19475.0 bp −$194.7K	doesn't fit	doesn't fit
Sell Binance live order book, 5 min ago	1.86 bp	15.0 bp −$15	52.2 bp −$522	doesn't fit	doesn't fit

TRB on 13 exchanges

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	+0.0055%	4h	18.887	−0.226%	$349K	$152K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	18.921	−0.046%	$468K	$275K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	18.905	−0.129%	$2K	$32K	5x	as long as short
Binance TRBUSDTshort	+0.0100%	4h	18.905	−0.129%	$4.9M	$10.6M	50x
Bybit TRBUSDT	+0.0100%	4h	18.930	+0.002%	$6.1M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	18.920	−0.051%	$4.3M	$4.8M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	18.910	−0.104%	$549K	$2.0M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	18.906	−0.125%	$15.7M	$1.2M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	18.889	−0.215%	$1.1M	$325K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	18.928	−0.009%	$1.3M	$1.5M	50x	as long as short

Show all 13 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX TRB-USDT	+0.0100%	4h	18.910	−0.104%	—	$13.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	18.897	−0.172%	$15K	$14K	—	as long as short
Kraken Futures PF_TRBUSDlong	+0.1183%	1h	18.930	long leg	$104K	$58K	10x