Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1139%/8h= +124.7% APRpaid last 24h +0.119%

Price spread now: Kraken Futures against Gate+0.513%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$2,207as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,164as in the Price arb table

costs, in and out, $10k−$2,21422.137% of the position

Long on Gate Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.064%+$6 on $10k

Price spread, last 3 days (all we have)−0.608%−$61 · spread now +0.513%, 7d avg +0.013%

Together, before fees−0.544%−$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$34 a day on $10k at the current rate, and Kraken Futures is 0.501% dearer against Gate than usual: you sell high and buy low: +$50 more if the spread goes back to its 7-day average of +0.013%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.064% in total (about 3.4% 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	Gate TRB_USDT	19.020	0.0100	pay 0.0050% / 4h	1h 58m	$537K	$1.4M	50x
Short	Kraken Futures PF_TRBUSD	19.118	0.1239	get 0.0155% / 1h	58m 52s	$102K	$98K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Gate. 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 GatebpFee Kraken FuturesbpOrdersPrice spread, now +0.513%Rate

Funding earned: $239.22
Price spread: +0.513% → +0.013%: $50.07
Slippage, 4 orders: −$2,188.67
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1,924.38
Costs to cover: 22.137%
Break-even: 63.3 days

Slippage from Gate: live order book, 3 min ago; Kraken Futures: live order book, 23 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 Gate live order book, 3 min ago	5.26 bp	18.0 bp −$18	27.4 bp −$274	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 23 min ago	18.24 bp	39.6 bp −$40	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	+0.0063%	4h	19.014	−0.032%	$362K	$174K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.025	+0.026%	$487K	$226K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.008	−0.064%	$9K	$24K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.012	−0.044%	$5.0M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.046	+0.137%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.020	0.000%	$4.4M	$4.6M	20x	as long as short
Gate TRB_USDTlong	+0.0100%	4h	19.020	long leg	$537K	$1.4M	50x
MEXC TRB_USDT	+0.0100%	4h	19.012	−0.042%	$14.4M	$894K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.020	0.000%	$1.1M	$306K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.016	−0.021%	$1.1M	$1.3M	50x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX TRB-USDT	+0.0100%	4h	19.021	+0.005%	—	$16.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.038	+0.096%	$14K	$3K	—	as long as short
Kraken Futures PF_TRBUSDshort	+0.1239%	1h	19.118	+0.513%	$102K	$98K	10x