Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Bybit+1.395%7-day average −1.839% · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.088%−$9 on $10k

Price spread, last 4 days (all we have)−4.434%−$443 · spread now +1.395%, 7d avg −1.839%

Together, before fees−4.522%−$452 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 3.234% dearer against Bybit than usual: you sell high and buy low (spread +1.395% now, against its 7-day average of −1.839%): +$323 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit KASUSDT	0.04301	0.0100	pay 0.0050% / 4h	28m 40s	$10.7M	$7.7M	50x
Short	Injective KAS/USDC PERP	0.04361	0.0033	get 0.0004% / 1h	28m 40s	$45	$154K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 InjectivebpOrdersPrice spread, now +1.395%Rate

Funding earned: −$14
Price spread: +1.395% → −1.839%: $323.41
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $298.39
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Injective: 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, 5 min ago	4.67 bp	19.4 bp −$19	61.7 bp −$617	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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 −0.0001%	1h	0.04303	+0.045%	$4K	—	150x	as long as short
Injective KAS/USDC PERPshort	+0.0033%	1h	0.04361	+1.395%	$45	$154K	5.5x
Binance KASUSDT	+0.0100%	4h	0.04305	+0.103%	$4.1M	$12.7M	75x	as long as short
Bybit KASUSDTlong	+0.0100%	4h	0.04301	long leg	$10.7M	$7.7M	50x
Gate KAS_USDT	+0.0100%	8h	0.04300	−0.023%	$2.1M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04305	+0.093%	$28.8M	$4.8M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04307	+0.149%	$4.3M	$7.3M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04301	0.000%	$11.8M	$3.1M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04305	+0.093%	—	$67.7M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04298	−0.076%	$23K	$23K	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster KASUSDT	+0.0108%	4h	0.04306	+0.116%	$253K	$166K	20x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0282% / S −0.5451%	1h	0.04302	+0.033%	$11K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04316	+0.349%	$376K	$295K	75x	as long as short
Hyperliquid KAS	+0.0613%	1h	0.04314	+0.309%	$2.8M	$1.1M	3x	as long as short
Kraken Futures PF_KASUSD	+0.1199%	1h	0.04307	+0.135%	$307K	$502K	20x	as long as short