Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.1138%/8h= −124.6% APRpaid last 24h −0.150%

Price spread now: Binance against Kraken Futures−0.299%7-day average −0.106% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,472as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,486as in the Price arb table

costs, in and out, $10k−$2,46724.668% of the position

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 3 days (all we have)+0.231%+$23 · spread now −0.299%, 7d avg −0.106%

Together, before fees+0.182%+$18 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$34 a day on $10k at the current rate, and Binance is 0.193% cheaper against Kraken Futures than usual: you would sell low and buy high (−$19 if the spread goes back to its 7-day average of −0.106%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.049% in total (about -2.6% 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	Kraken Futures PF_TRBUSD	19.141	0.1238	pay 0.0155% / 1h	5m 40s	$102K	$98K	10x
Short	Binance TRBUSDT	19.084	0.0100	get 0.0050% / 4h	1h 05m	$5.0M	$10.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.299%Rate

Funding earned: −$238.9
Price spread: −0.299% → −0.106%: −$19.33
Slippage, 4 orders: −$2,446.77
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$2,725
Costs to cover: 24.668%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 11 min ago; Binance: live order book, 4 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 Kraken Futures live order book, 11 min ago	13.12 bp	2398.6 bp −$2,399	18341.6 bp −$183.4K	doesn't fit	doesn't fit
Sell Binance live order book, 4 min ago	0.52 bp	17.8 bp −$18	60.3 bp −$603	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	19.105	−0.188%	$484K	$225K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.092	−0.256%	$9K	$21K	5x	as long as short
Binance TRBUSDTshort	+0.0100%	4h	19.084	−0.299%	$5.0M	$10.1M	50x
Bybit TRBUSDT	+0.0100%	4h	19.124	−0.089%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.100	−0.214%	$4.4M	$4.6M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.082	−0.308%	$14.5M	$927K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.078	−0.329%	$1.1M	$300K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.093	−0.251%	$1.2M	$1.3M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.104	−0.193%	—	$16.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.069	−0.374%	$14K	$3K	—	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	+0.0148%	4h	19.053	−0.460%	$357K	$173K	50x	as long as short
Gate TRB_USDT	+0.0270%	4h	19.110	−0.162%	$576K	$1.5M	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.1238%	1h	19.141	long leg	$102K	$98K	10x