Funding arb · Price arb /

TRB

all TRB markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against KuCoin−0.109%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$264as in the Funding arb table

Net, price: spread back to 7d avg − costs−$269as in the Price arb table

costs, in and out, $10k−$2642.639% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days0.000%$0 on $10k

Price spread, last 4 days (all we have)−0.170%−$17 · spread now −0.109%, 7d avg −0.057%

Together, before fees−0.170%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.052% cheaper against KuCoin than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin TRBUSDTM	19.209	0.0100	pay 0.0050% / 4h	2h 58m	$1.2M	$325K	50x
Short	Hyperliquid TRB	19.188	0.0100	get 0.0013% / 1h	58m 07s	$476K	$274K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. 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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now −0.109%Rate

Funding earned: $0
Price spread: −0.109% → −0.057%: −$5.21
Slippage, 4 orders: −$242.95
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$269.16
Costs to cover: 2.639%
Break-even: never at this rate

Slippage from KuCoin: live order book, 7 min ago; Hyperliquid: live order book, 52 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 KuCoin live order book, 7 min ago	10.35 bp	87.0 bp −$87	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 52 min ago	1.83 bp	24.4 bp −$24	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
BloFin TRB-USDT	+0.0097%	4h	19.225	+0.083%	$350K	$167K	50x	as long as short
Hyperliquid TRBshort	+0.0100%	1h	19.188	−0.109%	$476K	$274K	3x
Aster TRBUSDT	+0.0100%	4h	19.182	−0.141%	$2K	$29K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.173	−0.190%	$5.0M	$11.8M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.216	+0.036%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAP	+0.0100%	4h	19.200	−0.047%	$4.4M	$5.3M	20x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.190	−0.099%	$15.9M	$1.2M	125x	as long as short
KuCoin TRBUSDTMlong	+0.0100%	4h	19.209	long leg	$1.2M	$325K	50x
Bitget TRBUSDT	+0.0100%	4h	19.202	−0.036%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.192	−0.089%	—	$5.0M	—	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	+0.0104%	4h	19.261	+0.273%	$15K	$16K	—	as long as short
Gate TRB_USDT	+0.0460%	4h	19.220	+0.057%	$579K	$2.0M	50x	as long as short
Kraken Futures PF_TRBUSD	+0.3732%	1h	19.194	−0.078%	$108K	$56K	10x	as long as short