Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.1795%/8h= +196.5% APRpaid last 24h −0.074%

Price spread now: GMX against Bybit−0.085%51s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Funding pays, the price is against you. GMX is 0.085% cheaper against Bybit than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$8 on $10k: about 4 hours of funding at the current rate (+$54 a day). The two prices were read 51 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit KASUSDT	0.04371	0.0100	pay 0.0050% / 4h	1h 22m	$10.8M	$7.2M	50x
Short	GMX KAS/USD [WBTC.b-USDC]	0.04367	L +0.0165% / S −0.1895%	get 0.0237% / 1h	22m 37s	$11K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.085%Rate

Funding earned: $376.92
Price spread: −0.085% → 0.000%: −$8.46
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $345.46
Costs to cover: 0.230%
Break-even: 0.6 days

Slippage unknown: Bybit: live order book, 6 min ago; GMX: no order-book sample. Net counts fees only.

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 Bybit live order book, 6 min ago	1.15 bp	20.5 bp −$20	65.9 bp −$659	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

GMX: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	0.04368	−0.075%	$11K	—	150x	as long as short
Kraken Futures PF_KASUSD	+0.0090%	1h	0.04368	−0.060%	$294K	$446K	20x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04367	−0.083%	$256K	$201K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04372	+0.016%	$4.0M	$11.2M	75x	as long as short
Bybit KASUSDTlong	+0.0100%	4h	0.04371	long leg	$10.8M	$7.2M	50x
Gate KAS_USDT	+0.0100%	8h	0.04367	−0.092%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04369	−0.046%	$28.0M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04372	+0.025%	$4.2M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04368	−0.069%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04370	−0.023%	—	$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	0.04352	−0.436%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]short	L +0.0165% / S −0.1895%	1h	0.04367	−0.085%	$11K	—	100x
Injective KAS/USDC PERP	+0.0329%	1h	0.04361	−0.229%	$45	$154K	5.5x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04372	+0.023%	$383K	$219K	75x	as long as short
Hyperliquid KAS	+0.0547%	1h	0.04381	+0.229%	$2.9M	$987K	3x	as long as short