Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.1080%/8h= −118.2% APRpaid last 24h −0.466%

Price spread now: KuCoin against Kraken Futures−0.077%7-day average −0.022% · you buy dearer than you sell

Net, funding: paid 7d − costs−$4,958as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,922as in the Price arb table

costs, in and out, $10k−$4,91749.167% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.411%−$41 on $10k

Price spread, last 4 days (all we have)+0.052%+$5 · spread now −0.077%, 7d avg −0.022%

Together, before fees−0.358%−$36 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$32 a day on $10k at the current rate, and KuCoin is 0.055% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.022%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.411% in total (about -21.4% 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	18.987	0.1180	pay 0.0147% / 1h	44m 41s	$104K	$59K	10x
Short	KuCoin TRBUSDTM	18.972	0.0100	get 0.0050% / 4h	1h 44m	$1.2M	$329K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Kraken Futures. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpOrdersPrice spread, now −0.077%Rate

Funding earned: −$226.73
Price spread: −0.077% → −0.022%: −$5.5
Slippage, 4 orders: −$4,894.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$5,148.96
Costs to cover: 49.167%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, just now; KuCoin: live order book, 3 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, just now	23.70 bp	4686.2 bp −$4,686	19475.0 bp −$194.7K	doesn't fit	doesn't fit
Sell KuCoin live order book, 3 min ago	7.38 bp	118.6 bp −$119	doesn't fit	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	+0.0099%	4h	18.949	−0.198%	$350K	$154K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	18.972	−0.077%	$469K	$277K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	18.968	−0.097%	$2K	$32K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	18.958	−0.151%	$4.9M	$11.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	18.972	−0.077%	$6.2M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	18.960	−0.140%	$4.3M	$5.1M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	18.970	−0.088%	$554K	$2.0M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	18.959	−0.146%	$15.8M	$1.1M	125x	as long as short
KuCoin TRBUSDTMshort	+0.0100%	4h	18.972	−0.077%	$1.2M	$329K	50x
Bitget TRBUSDT	+0.0100%	4h	18.983	−0.019%	$1.3M	$1.6M	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	18.971	−0.082%	—	$13.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	18.980	−0.037%	$15K	$14K	—	as long as short
Kraken Futures PF_TRBUSDlong	+0.1180%	1h	18.987	long leg	$104K	$59K	10x