Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0010%/8h= −1.1% APRpaid last 24h +0.163%

Price spread now: Kraken Futures against Binance−0.053%7-day average +0.145% · you buy dearer than you sell

Net, funding: paid 7d − costs+$37as in the Funding arb table

Net, price: spread back to 7d avg − costs−$128as in the Price arb table

costs, in and out, $10k−$1091.085% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.454%+$145 on $10k

Price spread, last 3 days (all we have)+0.734%+$73 · spread now −0.053%, 7d avg +0.145%

Together, before fees+2.188%+$219 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Kraken Futures is 0.197% cheaper against Binance than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of +0.145%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +1.454%, so the current rate has only just turned against you.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance KASUSDT	0.04376	0.0100	pay 0.0050% / 4h	1h 09m	$4.0M	$11.2M	75x
Short	Kraken Futures PF_KASUSD	0.04374	0.0090	get 0.0011% / 1h	9m 45s	$297K	$443K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$2.2
Price spread: −0.053% → +0.145%: −$19.73
Slippage, 4 orders: −$88.54
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$130.47
Costs to cover: 1.085%
Break-even: never at this rate

Slippage from Binance: live order book, 15 min ago; Kraken Futures: live order book, 8 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 Binance live order book, 15 min ago	2.29 bp	15.3 bp −$15	68.1 bp −$681	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 8 min ago	5.73 bp	42.5 bp −$43	158.5 bp −$1,585	doesn't fit	doesn't fit

KAS on 15 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
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04371	−0.116%	$11K	—	150x	as long as short
Kraken Futures PF_KASUSDshort	+0.0090%	1h	0.04374	−0.053%	$297K	$443K	20x
Aster KASUSDT	+0.0100%	4h	0.04372	−0.094%	$256K	$201K	20x	as long as short
Binance KASUSDTlong	+0.0100%	4h	0.04376	long leg	$4.0M	$11.2M	75x
Bybit KASUSDT	+0.0100%	4h	0.04371	−0.120%	$10.8M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04371	−0.120%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04377	+0.018%	$28.0M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04374	−0.040%	$4.3M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04372	−0.097%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04372	−0.097%	—	$69.5M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni KAS	+0.0100%	4h	0.04369	−0.156%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0184% / S −0.2447%	1h	0.04370	−0.142%	$11K	—	100x	as long as short
Injective KAS/USDC PERP	+0.0329%	1h	0.04361	−0.348%	$45	$154K	5.5x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04381	+0.109%	$380K	$210K	75x	as long as short
Hyperliquid KAS	+0.0702%	1h	0.04385	+0.198%	$2.9M	$965K	3x	as long as short