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

Net, funding: paid 7d − costs−$2,239as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,276as in the Price arb table

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

Long on MEXC Short on Kraken Futures

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

Funding pays, the price is against you. Kraken Futures is 0.191% cheaper against MEXC than usual: you would sell low and buy high (spread −0.081% now, against its 7-day average of +0.111%). If the spread goes back, that is −$19 on $10k: about 15 hours of funding at the current rate (+$30 a day). 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	MEXC TRB_USDT	19.146	0.0100	pay 0.0050% / 4h	35m 34s	$15.4M	$1.1M	125x
Short	Kraken Futures PF_TRBUSD	19.131	0.1108	get 0.0138% / 1h	35m 34s	$102K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against MEXC. 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 MEXCbpFee Kraken FuturesbpOrdersPrice spread, now −0.081%Rate

Funding earned: $211.64
Price spread: −0.081% → +0.111%: −$19.14
Slippage, 4 orders: −$2,242.55
Fee MEXC: 2 bp × 2 orders: −$4
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$2,064.04
Costs to cover: 22.565%
Break-even: 75.3 days

Slippage from MEXC: live order book, 3 min ago; Kraken Futures: live order book, 21 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 MEXC live order book, 3 min ago	0.26 bp	9.0 bp −$9	37.1 bp −$371	56.8 bp −$5,678	118.8 bp −$59.4K
Sell Kraken Futures live order book, 21 min ago	20.69 bp	43.9 bp −$44	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
Hyperliquid TRB	+0.0100%	1h	19.160	+0.073%	$479K	$259K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.129	−0.088%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.154	+0.042%	$5.2M	$10.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.168	+0.115%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.160	+0.073%	$4.4M	$5.1M	20x	as long as short
MEXC TRB_USDTlong	+0.0100%	4h	19.146	long leg	$15.4M	$1.1M	125x
KuCoin TRBUSDTM	+0.0100%	4h	19.132	−0.073%	$1.2M	$309K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.166	+0.104%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.134	−0.063%	—	$16.2M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.123	−0.119%	$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	+0.131%	$369K	$171K	50x	as long as short
Gate TRB_USDT	+0.0250%	4h	19.140	−0.031%	$572K	$1.9M	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.1108%	1h	19.131	−0.081%	$102K	$99K	10x