Funding arb · Price arb /

TRB

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1459%/8h= +159.7% APRpaid last 24h +0.370%

Price spread now: Kraken Futures against OKX+0.204%7-day average +0.044% · you sell dearer than you buy

Net, funding: paid 7d − costs−$4,522as in the Funding arb table

Net, price: spread back to 7d avg − costs−$4,535as in the Price arb table

costs, in and out, $10k−$4,55145.509% of the position

Long on OKX Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.286%+$29 on $10k

Price spread, last 4 days (all we have)−0.259%−$26 · spread now +0.204%, 7d avg +0.044%

Together, before fees+0.027%+$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$44 a day on $10k at the current rate, and Kraken Futures is 0.159% dearer against OKX than usual: you sell high and buy low: +$16 more if the spread goes back to its 7-day average of +0.044%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.286% in total (about 14.9% 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	OKX TRB-USDT-SWAP	19.190	0.0100	pay 0.0050% / 4h	1h 15m	$4.4M	$5.4M	20x
Short	Kraken Futures PF_TRBUSD	19.229	0.1559	get 0.0195% / 1h	15m 43s	$103K	$51K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against OKX. 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 OKXbpFee Kraken FuturesbpOrdersPrice spread, now +0.204%Rate

Funding earned: $306.31
Price spread: +0.204% → +0.044%: $15.94
Slippage, 4 orders: −$4,530.94
Fee OKX: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$4,228.69
Costs to cover: 45.509%
Break-even: 103.6 days

Slippage from OKX: live order book, 2 min ago; Kraken Futures: live order book, 26 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 OKX live order book, 2 min ago	2.60 bp	15.0 bp −$15	87.1 bp −$871	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 26 min ago	10.42 bp	41.3 bp −$41	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	19.193	+0.016%	$477K	$275K	3x	as long as short
Aster TRBUSDT	+0.0100%	4h	19.183	−0.034%	$7K	$25K	5x	as long as short
Binance TRBUSDT	+0.0100%	4h	19.184	−0.032%	$5.0M	$11.9M	50x	as long as short
Bybit TRBUSDT	+0.0100%	4h	19.211	+0.109%	$6.3M	$2.2M	50x	as long as short
OKX TRB-USDT-SWAPlong	+0.0100%	4h	19.190	long leg	$4.4M	$5.4M	20x
Gate TRB_USDT	+0.0100%	4h	19.210	+0.104%	$564K	$2.2M	50x	as long as short
MEXC TRB_USDT	+0.0100%	4h	19.177	−0.068%	$15.5M	$1.1M	125x	as long as short
KuCoin TRBUSDTM	+0.0100%	4h	19.203	+0.068%	$1.2M	$334K	50x	as long as short
Bitget TRBUSDT	+0.0100%	4h	19.201	+0.057%	$1.3M	$1.6M	50x	as long as short
BingX TRB-USDT	+0.0100%	4h	19.197	+0.036%	—	$5.1M	—	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BloFin TRB-USDT	+0.0119%	4h	19.196	+0.031%	$353K	$167K	50x	as long as short
Variational Omni TRB	+0.0132%	4h	19.205	+0.079%	$18K	$7K	—	as long as short
Kraken Futures PF_TRBUSDshort	+0.1559%	1h	19.229	+0.204%	$103K	$51K	10x