Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.1632%/8h= −178.7% APRpaid last 24h −0.384%

Price spread now: OKX against Kraken Futures−0.418%7-day average −0.044% · you buy dearer than you sell

Net, funding: paid 7d − costs−$5,777as in the Funding arb table

Net, price: spread back to 7d avg − costs−$5,783as in the Price arb table

costs, in and out, $10k−$5,74657.457% of the position

Long on Kraken Futures Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.316%−$32 on $10k

Price spread, last 4 days (all we have)+0.440%+$44 · spread now −0.418%, 7d avg −0.044%

Together, before fees+0.124%+$12 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$49 a day on $10k at the current rate, and OKX is 0.374% cheaper against Kraken Futures than usual: you would sell low and buy high (−$37 if the spread goes back to its 7-day average of −0.044%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.316% in total (about -16.5% 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	19.250	0.1732	pay 0.0217% / 1h	10m 22s	$103K	$51K	10x
Short	OKX TRB-USDT-SWAP	19.170	0.0100	get 0.0050% / 4h	10m 22s	$4.4M	$5.3M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.418%Rate

Funding earned: −$342.76
Price spread: −0.418% → −0.044%: −$37.36
Slippage, 4 orders: −$5,725.73
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: −$6,125.84
Costs to cover: 57.457%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 27 min ago; OKX: 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 Kraken Futures live order book, 27 min ago	72.92 bp	5604.6 bp −$5,605	19556.7 bp −$195.6K	doesn't fit	doesn't fit
Sell OKX live order book, 2 min ago	2.61 bp	16.5 bp −$16	74.4 bp −$744	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	+0.0093%	4h	19.110	−0.729%	$353K	$167K	50x	as long as short
Hyperliquid TRB	+0.0100%	1h	19.163	−0.454%	$476K	$273K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.162	−0.458%	$6K	$26K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.149	−0.528%	$5.0M	$11.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.184	−0.345%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAPshort	+0.0100%	4h	19.170	−0.418%	$4.4M	$5.3M	20x
Gate TRB_USDT	+0.0100%	4h	19.130	−0.626%	$560K	$2.2M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.140	−0.574%	$15.7M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.139	−0.579%	$1.2M	$332K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.148	−0.532%	$1.3M	$1.6M	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	19.162	−0.459%	—	$5.0M	—	as long as short
Variational Omni TRB	+0.0190%	4h	19.125	−0.654%	$15K	$16K	—	as long as short
Kraken Futures PF_TRBUSDlong	+0.1732%	1h	19.250	long leg	$103K	$51K	10x