Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.1237%/8h= −135.4% APRpaid last 24h −0.119%

Price spread now: Gate against Kraken Futures−0.082%7-day average −0.013% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,220as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,221as in the Price arb table

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

Long on Kraken Futures Short on Gate

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)+0.178%+$18 · spread now −0.082%, 7d avg −0.013%

Together, before fees+0.113%+$11 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$37 a day on $10k at the current rate, and Gate is 0.070% cheaper against Kraken Futures than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.013%). Swap the legs.

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	Kraken Futures PF_TRBUSD	19.036	0.1337	pay 0.0167% / 1h	59m 36s	$102K	$98K	10x
Short	Gate TRB_USDT	19.020	0.0100	get 0.0050% / 4h	1h 59m	$537K	$1.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.082%Rate

Funding earned: −$259.72
Price spread: −0.082% → −0.013%: −$6.99
Slippage, 4 orders: −$2,188.67
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$2,480.38
Costs to cover: 22.137%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 22 min ago; Gate: live order book, 3 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, 22 min ago	18.24 bp	2143.4 bp −$2,143	18059.0 bp −$180.6K	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	5.26 bp	12.8 bp −$13	25.0 bp −$250	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	+0.0070%	4h	19.010	−0.135%	$362K	$174K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.018	−0.093%	$487K	$226K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.007	−0.149%	$9K	$24K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.012	−0.124%	$5.0M	$10.2M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.045	+0.049%	$6.3M	$1.9M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.010	−0.135%	$4.4M	$4.5M	20x	as long as short
Gate TRB_USDTshort	+0.0100%	4h	19.020	−0.082%	$537K	$1.4M	50x
MEXC TRB_USDT	+0.0100%	4h	18.997	−0.203%	$14.4M	$894K	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.019	−0.088%	$1.1M	$306K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.004	−0.166%	$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	19.018	−0.093%	—	$16.5M	—	as long as short
Variational Omni TRB	+0.0100%	4h	19.038	+0.014%	$14K	$3K	—	as long as short
Kraken Futures PF_TRBUSDlong	+0.1337%	1h	19.036	long leg	$102K	$98K	10x