Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.1008%/8h= −110.4% APRpaid last 24h −0.300%

Price spread now: MEXC against Kraken Futures+0.081%7-day average −0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2,274as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,237as in the Price arb table

costs, in and out, $10k−$2,25722.565% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.173%−$17 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.081%, 7d avg −0.111%

Together, before fees−0.224%−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. MEXC is 0.191% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.081% now, against its 7-day average of −0.111%): +$19 on $10k if it goes back. Holding the pair costs −$30 a day in funding at the current rate, which eats that in about 15 hours. At the pace of the last 7 days (−0.173% in total) that is about 7.7 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.173% in total (about -9.0% 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	19.131	0.1108	pay 0.0138% / 1h	35m 34s	$102K	$99K	10x
Short	MEXC TRB_USDT	19.146	0.0100	get 0.0050% / 4h	35m 34s	$15.4M	$1.1M	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$211.64
Price spread: +0.081% → −0.111%: $19.14
Slippage, 4 orders: −$2,242.55
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$2,449.05
Costs to cover: 22.565%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 21 min ago; MEXC: 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, 21 min ago	20.69 bp	2192.6 bp −$2,193	17922.9 bp −$179.2K	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	0.26 bp	11.0 bp −$11	40.7 bp −$407	60.1 bp −$6,014	122.3 bp −$61.1K

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	19.160	+0.154%	$479K	$259K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.129	−0.007%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.154	+0.123%	$5.2M	$10.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.168	+0.196%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.160	+0.154%	$4.4M	$5.1M	20x	as long as short
MEXC TRB_USDTshort	+0.0100%	4h	19.146	+0.081%	$15.4M	$1.1M	125x
KuCoin TRBUSDTM	+0.0100%	4h	19.132	+0.008%	$1.2M	$309K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.166	+0.185%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.134	+0.018%	—	$16.2M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.123	−0.039%	$15K	$4K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin TRB-USDT	+0.0106%	4h	19.171	+0.211%	$369K	$171K	50x	as long as short
Gate TRB_USDT	+0.0250%	4h	19.140	+0.049%	$572K	$1.9M	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.1108%	1h	19.131	long leg	$102K	$99K	10x