Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1637%/8h= −179.3% APRpaid last 24h −0.358%

Price spread now: Gate against Kraken Futures−0.140%7-day average −0.020% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,573as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,556as in the Price arb table

costs, in and out, $10k−$4,54445.442% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.284%−$28 on $10k

Price spread, last 4 days (all we have)+0.135%+$14 · spread now −0.140%, 7d avg −0.020%

Together, before fees−0.149%−$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$49 a day on $10k at the current rate, and Gate is 0.120% cheaper against Kraken Futures than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.020%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.284% in total (about -14.8% 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	Kraken Futures PF_TRBUSD	19.197	0.1737	pay 0.0217% / 1h	51m 56s	$103K	$51K	10x
Short	Gate TRB_USDT	19.170	0.0100	get 0.0050% / 4h	51m 56s	$554K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.140%Rate

Funding earned: −$343.77
Price spread: −0.140% → −0.020%: −$12.03
Slippage, 4 orders: −$4,519.23
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$4,900.03
Costs to cover: 45.442%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 50 min ago; Gate: 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 Kraken Futures live order book, 50 min ago	10.42 bp	4477.4 bp −$4,477	19127.0 bp −$191.3K	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.21 bp	12.7 bp −$13	22.2 bp −$222	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	+0.0092%	4h	19.175	−0.114%	$354K	$167K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.185	−0.062%	$477K	$272K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.177	−0.103%	$6K	$26K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.169	−0.144%	$5.0M	$11.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.187	−0.052%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.190	−0.036%	$4.4M	$5.3M	20x	as long as short
Gate TRB_USDTshort	+0.0100%	4h	19.170	−0.140%	$554K	$2.2M	50x
MEXC TRB_USDT	+0.0100%	4h	19.171	−0.135%	$15.6M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.176	−0.109%	$1.2M	$335K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.178	−0.099%	$1.3M	$1.6M	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX TRB-USDT	+0.0100%	4h	19.194	−0.015%	—	$5.1M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.157	−0.208%	$15K	$10K	—	as long as short
Kraken Futures PF_TRBUSDlong	+0.1737%	1h	19.197	long leg	$103K	$51K	10x