Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: KuCoin against Hyperliquid+0.124%7-day average +0.059% · you sell dearer than you buy

Net, funding: paid 7d − costs−$261as in the Funding arb table

Net, price: spread back to 7d avg − costs−$254as in the Price arb table

costs, in and out, $10k−$2612.606% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)+0.007%+$1 · spread now +0.124%, 7d avg +0.059%

Together, before fees+0.007%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.065% dearer against Hyperliquid than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid TRB	19.314	0.0100	pay 0.0013% / 1h	27m 48s	$480K	$262K	3x
Short	KuCoin TRBUSDTM	19.338	0.0100	get 0.0050% / 4h	3h 27m	$1.2M	$315K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. 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 HyperliquidbpFee KuCoinbpOrdersPrice spread, now +0.124%Rate

Funding earned: $0
Price spread: +0.124% → +0.059%: $6.49
Slippage, 4 orders: −$239.57
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$254.08
Costs to cover: 2.606%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 62 min ago; KuCoin: live order book, 2 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 Hyperliquid live order book, 62 min ago	2.33 bp	19.9 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	10.08 bp	92.9 bp −$93	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 TRBlong	+0.0100%	1h	19.314	long leg	$480K	$262K	3x
Aster TRBUSDT	+0.0100%	4h	19.329	+0.079%	$9K	$22K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.302	−0.061%	$5.2M	$11.1M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.339	+0.129%	$6.3M	$2.1M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.310	−0.021%	$4.4M	$5.2M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.301	−0.067%	$15.5M	$1.0M	125x	as long as short
KuCoin TRBUSDTMshort	+0.0100%	4h	19.338	+0.124%	$1.2M	$315K	50x
Bitget TRBUSDT	+0.0100%	4h	19.326	+0.062%	$1.3M	$1.5M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.336	+0.114%	—	$18.1M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.432	+0.609%	$15K	$4K	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin TRB-USDT	+0.0116%	4h	19.318	+0.021%	$367K	$172K	50x	as long as short
Gate TRB_USDT	+0.0208%	4h	19.350	+0.186%	$582K	$2.0M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.1001%	1h	19.352	+0.197%	$103K	$99K	10x	as long as short