Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0903%/8h= +98.9% APRpaid last 24h +0.325%

Price spread now: Kraken Futures against Bitget+0.027%7-day average +0.035% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4,407as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,427as in the Price arb table

costs, in and out, $10k−$4,42744.267% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 4 days (all we have)−0.047%−$5 · spread now +0.027%, 7d avg +0.035%

Together, before fees+0.146%+$15 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.035%, so right now this pair is about funding alone: +$27 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 0.193% in total (about 10.0% 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	Bitget TRBUSDT	19.303	0.0100	pay 0.0050% / 4h	3h 25m	$1.3M	$1.5M	50x
Short	Kraken Futures PF_TRBUSD	19.308	0.1003	get 0.0125% / 1h	25m 14s	$103K	$99K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bitget. 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 BitgetbpFee Kraken FuturesbpOrdersPrice spread, now +0.027%Rate

Funding earned: $189.67
Price spread: +0.027% → +0.035%: −$0.82
Slippage, 4 orders: −$4,404.67
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,237.82
Costs to cover: 44.267%
Break-even: 163.4 days

Slippage from Bitget: live order book, 1 min ago; Kraken Futures: live order book, 27 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 Bitget live order book, 1 min ago	3.37 bp	21.5 bp −$21	64.1 bp −$641	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 27 min ago	25.64 bp	53.2 bp −$53	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	+0.0044%	4h	19.296	−0.036%	$365K	$172K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.300	−0.016%	$480K	$262K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.295	−0.040%	$9K	$22K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.287	−0.082%	$5.2M	$11.1M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.311	+0.041%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.300	−0.016%	$4.4M	$5.2M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	19.300	−0.016%	$576K	$2.0M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.290	−0.067%	$15.5M	$1.0M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.300	−0.016%	$1.2M	$315K	50x	as long as short
Bitget TRBUSDTlong	+0.0100%	4h	19.303	long leg	$1.3M	$1.5M	50x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX TRB-USDT	+0.0100%	4h	19.296	−0.036%	—	$18.1M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.316	+0.070%	$15K	$4K	—	as long as short
Kraken Futures PF_TRBUSDshort	+0.1003%	1h	19.308	+0.027%	$103K	$99K	10x