Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1369%/8h= −149.9% APRpaid last 24h −0.246%

Price spread now: MEXC against Kraken Futures−0.430%7-day average −0.110% · you buy dearer than you sell

Net, funding: paid 7d − costs−$3,324as in the Funding arb table

Net, price: spread back to 7d avg − costs−$3,344as in the Price arb table

costs, in and out, $10k−$3,31233.124% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.112%−$11 on $10k

Price spread, last 3 days (all we have)+0.358%+$36 · spread now −0.430%, 7d avg −0.110%

Together, before fees+0.246%+$25 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$41 a day on $10k at the current rate, and MEXC is 0.320% cheaper against Kraken Futures than usual: you would sell low and buy high (−$32 if the spread goes back to its 7-day average of −0.110%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.112% in total (about -5.9% 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	19.177	0.1469	pay 0.0184% / 1h	40m 09s	$102K	$99K	10x
Short	MEXC TRB_USDT	19.095	0.0100	get 0.0050% / 4h	2h 40m	$14.9M	$992K	125x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.430%Rate

Funding earned: −$287.55
Price spread: −0.430% → −0.110%: −$31.98
Slippage, 4 orders: −$3,298.44
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$3,631.97
Costs to cover: 33.124%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 27 min ago; MEXC: 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, 27 min ago	17.97 bp	3255.3 bp −$3,255	18278.8 bp −$182.8K	doesn't fit	doesn't fit
Sell MEXC live order book, 3 min ago	1.82 bp	11.8 bp −$12	40.6 bp −$406	61.0 bp −$6,100	119.8 bp −$59.9K

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	+0.0095%	4h	19.286	+0.566%	$364K	$184K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.100	−0.404%	$494K	$243K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.127	−0.264%	$9K	$20K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.110	−0.352%	$5.1M	$10.4M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.125	−0.274%	$6.3M	$2.0M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.130	−0.247%	$4.4M	$4.8M	20x	as long as short
MEXC TRB_USDTshort	+0.0100%	4h	19.095	−0.430%	$14.9M	$992K	125x
KuCoin TRBUSDTM	+0.0100%	4h	19.112	−0.341%	$1.2M	$306K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.099	−0.409%	$1.3M	$1.4M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.095	−0.430%	—	$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	+0.0363%	4h	19.212	+0.180%	$15K	$4K	—	as long as short
Gate TRB_USDT	+0.0854%	4h	19.120	−0.300%	$622K	$1.6M	50x	as long as short
Kraken Futures PF_TRBUSDlong	+0.1469%	1h	19.177	long leg	$102K	$99K	10x