Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.1177%/8h= +128.9% APRpaid last 24h +0.274%

Price spread now: Kraken Futures against BingX+0.050%7-day average +0.033% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4,419as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,431as in the Price arb table

costs, in and out, $10k−$4,43244.324% of the position

Long on BingX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.131%+$13 on $10k

Price spread, last 4 days (all we have)−0.427%−$43 · spread now +0.050%, 7d avg +0.033%

Together, before fees−0.296%−$30 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.033%, so right now this pair is about funding alone: +$35 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.131% in total (about 6.8% 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	BingX TRB-USDT	19.313	0.0100	pay 0.0050% / 4h	1h 05m	—	$16.2M	—
Short	Kraken Futures PF_TRBUSD	19.323	0.1277	get 0.0160% / 1h	5m 38s	$103K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against BingX. 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 BingXbpFee Kraken FuturesbpOrdersPrice spread, now +0.050%Rate

Funding earned: $247.27
Price spread: +0.050% → +0.033%: $1.68
Slippage, 4 orders: −$4,412.42
Fee BingX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,183.47
Costs to cover: 44.324%
Break-even: 125.4 days

Slippage from BingX: live order book, 3 min ago; Kraken Futures: live order book, 56 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 BingX live order book, 3 min ago	4.91 bp	22.0 bp −$22	60.2 bp −$602	299.4 bp −$29.9K	415.0 bp −$207.5K
Sell Kraken Futures live order book, 56 min ago	30.78 bp	48.4 bp −$48	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
BloFin TRB-USDT	+0.0069%	4h	19.346	+0.171%	$371K	$159K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.299	−0.072%	$489K	$252K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.306	−0.034%	$10K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.280	−0.170%	$5.2M	$10.7M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.316	+0.016%	$6.4M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.290	−0.119%	$4.5M	$5.0M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.282	−0.161%	$15.3M	$1.0M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.322	+0.047%	$1.2M	$310K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.305	−0.041%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDTlong	+0.0100%	4h	19.313	long leg	—	$16.2M	—

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0193%	4h	19.306	−0.035%	$15K	$4K	—	as long as short
Gate TRB_USDT	+0.0474%	4h	19.330	+0.088%	$625K	$1.8M	50x	as long as short
Kraken Futures PF_TRBUSDshort	+0.1277%	1h	19.323	+0.050%	$103K	$99K	10x