Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.1225%/8hpaid last 24h −0.083%

Price spread now: KuCoin against Kraken Futures−0.060%7-day average −0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$2,863as in the Funding arb table

Net, price: spread back to 7d avg − costs−$2,865as in the Price arb table

costs, in and out, $10k−$2,86028.596% of the position

Long on Kraken Futures Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.038%−$4 on $10k

Price spread, last 3 days (all we have)+0.021%+$2 · spread now −0.060%, 7d avg −0.011%

Together, before fees−0.017%−$2 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 KuCoin is 0.049% cheaper against Kraken Futures than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.011%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.038% in total (about -2.0% 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	Kraken Futures PF_TRBUSD	19.067	0.1325	pay 0.0166% / 1h	21m 45s	$102K	$95K	10x
Short	KuCoin TRBUSDTM	19.056	0.0100	get 0.0050% / 4h	21m 45s	$1.1M	$283K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.060%Rate

Funding earned: −$257.16
Price spread: −0.060% → −0.011%: −$4.94
Slippage, 4 orders: −$2,837.59
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$3,121.68
Costs to cover: 28.596%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 9 min ago; KuCoin: live order book, 7 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, 9 min ago	13.15 bp	2567.7 bp −$2,568	18475.3 bp −$184.8K	doesn't fit	doesn't fit
Sell KuCoin live order book, 7 min ago	7.63 bp	82.0 bp −$82	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 TRB	+0.0100%	1h	19.036	−0.165%	$479K	$142K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.030	−0.195%	$6K	$22K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.034	−0.173%	$5.0M	$9.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.062	−0.028%	$6.3M	$1.8M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.030	−0.196%	$4.4M	$4.5M	20x	as long as short
Gate TRB_USDT	+0.0100%	4h	19.050	−0.091%	$541K	$1.5M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.025	−0.222%	$13.9M	$771K	125x	as long as short
KuCoin TRBUSDTMshort	+0.0100%	4h	19.056	−0.060%	$1.1M	$283K	50x
Bitget TRBUSDT	+0.0100%	4h	19.036	−0.165%	$1.2M	$1.2M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.050	−0.091%	—	$16.3M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni TRB	+0.0100%	4h	19.010	−0.299%	$14K	$3K	—	as long as short
BloFin TRB-USDT	+0.0142%	4h	19.046	−0.112%	$370K	$144K	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.1325%	1h	19.067	long leg	$102K	$95K	10x