Funding arb · Price arb /

TRX

all TRX markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0044%/8h= +4.8% APRpaid last 24h +0.058%

Price spread now: Kraken Futures against KuCoin−0.003%7-day average +0.030% · you buy dearer than you sell

Net, funding: paid 7d − costs−$41as in the Funding arb table

Net, price: spread back to 7d avg − costs−$46as in the Price arb table

costs, in and out, $10k−$430.426% of the position

Long on KuCoin Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now −0.003%, 7d avg +0.030%

Together, before fees−0.036%−$4 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.033% cheaper against KuCoin than usual: you would sell low and buy high (spread −0.003% now, against its 7-day average of +0.030%). If the spread goes back, that is −$3 on $10k: about 2.5 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.011% in total) that is about 20 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRXUSDTM	0.3484	0.0100	pay 0.0100% / 8h	3h 42m	$8.6M	$3.5M	75x
Short	Kraken Futures PF_TRXUSD	0.3484	0.0144	get 0.0018% / 1h	42m 56s	$2.4M	$1.7M	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against KuCoin. 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 KuCoinbpFee Kraken FuturesbpOrdersPrice spread, now −0.003%Rate

Funding earned: $9.18
Price spread: −0.003% → +0.030%: −$3.31
Slippage, 4 orders: −$20.59
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$36.72
Costs to cover: 0.426%
Break-even: 35.0 days

Slippage from KuCoin: live order book, 5 min ago; Kraken Futures: 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 KuCoin live order book, 5 min ago	0.57 bp	8.9 bp −$9	76.5 bp −$765	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 1 min ago	2.58 bp	8.8 bp −$9	19.9 bp −$199	doesn't fit	doesn't fit

TRX on 32 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
Reya TRXRUSDPERP	−0.0133%	1h	0.3482	−0.036%	$5	—	20x	as long as short
Phoenix TRX	−0.0046%	1h	0.3483	−0.020%	$5K	$14K	10x	as long as short
dYdX TRX-USD	0.0000%	1h	0.3482	−0.040%	$183K	$10K	10x	as long as short
gTrade (Gains Network) TRX/USD	L +0.0003% / S −0.0008%	1h	0.3483	−0.022%	$123K	—	150x	as long as short
Injective TRX/USDC PERP	+0.0033%	1h	0.3441	−1.226%	$1K	$163K	12x	as long as short
BingX TRX-USDT	+0.0070%	8h	0.3483	−0.029%	—	$32.8M	—	as long as short
HTX TRX-USDT	+0.0092%	8h	0.3479	−0.132%	$824K	$883K	75x	as long as short
Lighter TRX	+0.0096%	1h	0.3483	−0.029%	$486K	$671K	10x	as long as short
Paradex TRX-USD-PERP	+0.0096%	8h	0.3482	−0.042%	$9K	$251	20x	as long as short
Orderly PERP_TRX_USDC	+0.0099%	8h	0.3482	−0.049%	$15K	$45K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid TRX	+0.0100%	1h	0.3486	+0.060%	$13.2M	$2.7M	10x	as long as short
Aster TRXUSDT	+0.0100%	8h	0.3483	−0.012%	$965K	$696K	75x	as long as short
Binance TRXUSDT	+0.0100%	8h	0.3483	−0.032%	$106.0M	$59.6M	75x	as long as short
Bybit TRXUSDT	+0.0100%	8h	0.3482	−0.049%	$53.8M	$11.7M	75x	as long as short
OKX TRX-USDT-SWAP	+0.0100%	8h	0.3483	−0.026%	$15.6M	$9.9M	50x	as long as short
Gate TRX_USDT	+0.0100%	8h	0.3483	−0.034%	$9.7M	$2.9M	75x	as long as short
MEXC TRX_USDT	+0.0100%	8h	0.3483	−0.017%	$18.9M	$2.2M	200x	as long as short
KuCoin TRXUSDTMlong	+0.0100%	8h	0.3484	long leg	$8.6M	$3.5M	75x
Bitget TRXUSDT	+0.0100%	8h	0.3483	−0.014%	$10.5M	$3.4M	75x	as long as short
Backpack TRX_USDC_PERP	+0.0100%	1h	0.3482	−0.046%	$62K	$5K	10x	as long as short
Variational Omni TRX	+0.0100%	8h	0.3480	−0.109%	$569K	$37K	—	as long as short
edgeX TRXUSDC	+0.0100%	4h	0.3481	−0.072%	$594K	$469K	20x	as long as short
ApeX Omni TRXUSDT	+0.0100%	1h	0.3483	−0.026%	$116K	$570K	50x	as long as short
SunX TRX-USDT	+0.0100%	8h	0.3481	−0.079%	$198K	$1.2M	30x	as long as short
SoDEX TRX-USD	+0.0100%	1h	0.3483	−0.020%	$408	$5K	5x	as long as short
Phemex TRXUSDT	+0.0100%	8h	0.3483	−0.023%	$4.0M	$1.9M	50x	as long as short
Extended TRX-USD	+0.0104%	1h	0.3482	−0.058%	$195K	$1.0M	25x	as long as short
Aevo TRX-PERP	+0.0104%	1h	0.3481	−0.076%	$34K	—	3x	as long as short
Kraken Futures PF_TRXUSDshort	+0.0144%	1h	0.3484	−0.003%	$2.4M	$1.7M	25x
BloFin TRX-USDT	+0.0220%	8h	0.3483	−0.020%	$4.7M	$3.9M	50x	as long as short
GMX TRX/USD [ETH-USDC]	L +0.0404% / S −0.0481%	1h	0.3483	−0.028%	$20K	—	100x	as long as short
Deribit TRX_USDC-PERPETUAL	+0.0600%	1h	0.3486	+0.078%	$848K	$532K	25x	as long as short