Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.4375%/8h= +479.1% APRpaid last 24h +0.389%

Price spread now: Kraken Futures against Binance+0.413%54s7-day average +0.111% · you sell dearer than you buy

Net, funding: paid 7d − costs−$5,721as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$5,75257.520% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.310%+$31 on $10k

Price spread, last 4 days (all we have)−0.668%−$67 · spread now +0.413%, 7d avg +0.111%

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

Both sides work for this trade now. Funding pays +$131 a day on $10k at the current rate, and Kraken Futures is 0.301% dearer against Binance than usual: you sell high and buy low: +$30 more if the spread goes back to its 7-day average of +0.111%. The two prices were read 54 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.310% in total (about 16.2% 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	Binance TRBUSDT	19.111	0.0100	pay 0.0050% / 4h	3h 42m	$5.0M	$11.9M	50x
Short	Kraken Futures PF_TRBUSD	19.190	0.4475	get 0.0559% / 1h	42m 23s	$103K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now +0.413%Rate

Funding earned: $918.75
Price spread: +0.413% → +0.111%: $30.14
Slippage, 4 orders: −$5,731.97
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,803.09
Costs to cover: 57.520%
Break-even: 43.6 days

Slippage from Binance: live order book, 13 min ago; Kraken Futures: live order book, 55 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 Binance live order book, 13 min ago	2.88 bp	16.8 bp −$17	53.9 bp −$539	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 55 min ago	72.92 bp	109.9 bp −$110	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	19.130	+0.099%	$475K	$273K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.112	+0.007%	$6K	$26K	5x	as long as short
Binance TRBUSDTlong	+0.0100%	4h	19.111	long leg	$5.0M	$11.9M	50x
Bybit TRBUSDT	+0.0100%	4h	19.126	+0.078%	$6.2M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.130	+0.099%	$4.4M	$5.3M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.114	+0.016%	$15.7M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.140	+0.152%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.138	+0.141%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.118	+0.037%	—	$5.0M	—	as long as short
BloFin TRB-USDT	+0.0114%	4h	19.133	+0.115%	$351K	$166K	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0166%	4h	19.193	+0.431%	$15K	$16K	—	as long as short
Gate TRB_USDT	+0.0302%	4h	19.140	+0.152%	$554K	$2.1M	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.4475%	1h	19.190	+0.413%	$103K	$51K	10x