Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0492%/8h= +53.8% APRpaid last 24h +0.134%

Price spread now: Kraken Futures against Bybit+0.202%7-day average +0.230% · you sell dearer than you buy

Net, funding: paid 7d − costs+$35as in the Funding arb table

Net, price: spread back to 7d avg − costs−$124as in the Price arb table

costs, in and out, $10k−$1211.211% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.563%+$156 on $10k

Price spread, last 4 days (all we have)+0.576%+$58 · spread now +0.202%, 7d avg +0.230%

Together, before fees+2.138%+$214 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.028% cheaper against Bybit than usual: you would sell low and buy high (spread +0.202% now, against its 7-day average of +0.230%). If the spread goes back, that is −$3 on $10k: about 5 hours of funding at the current rate (+$15 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit KASUSDT	0.04309	0.0100	pay 0.0050% / 4h	3h 30m	$10.8M	$7.7M	50x
Short	Kraken Futures PF_KASUSD	0.04318	0.0592	get 0.0074% / 1h	30m 42s	$309K	$503K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.202%Rate

Funding earned: $103.24
Price spread: +0.202% → +0.230%: −$2.78
Slippage, 4 orders: −$100.14
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.68
Costs to cover: 1.211%
Break-even: 8.4 days

Slippage from Bybit: live order book, 2 min ago; Kraken Futures: live order book, 22 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 Bybit live order book, 2 min ago	2.33 bp	16.4 bp −$16	58.7 bp −$587	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 22 min ago	6.92 bp	48.7 bp −$49	177.1 bp −$1,771	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 −0.0001%	1h	0.04312	+0.064%	$4K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	+1.207%	$45	$154K	5.5x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04315	+0.147%	$254K	$167K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04315	+0.139%	$4.2M	$12.7M	75x	as long as short
Bybit KASUSDTlong	+0.0100%	4h	0.04309	long leg	$10.8M	$7.7M	50x
Gate KAS_USDT	+0.0100%	8h	0.04309	0.000%	$2.1M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04316	+0.162%	$29.0M	$4.9M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04314	+0.118%	$4.3M	$7.3M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04308	−0.023%	$11.8M	$3.1M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04309	0.000%	—	$67.7M	—	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	0.04316	+0.168%	$23K	$24K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0283% / S −0.1996%	1h	0.04313	+0.097%	$11K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04321	+0.278%	$382K	$295K	75x	as long as short
Hyperliquid KAS	+0.0574%	1h	0.04321	+0.285%	$2.8M	$1.1M	3x	as long as short
Kraken Futures PF_KASUSDshort	+0.0592%	1h	0.04318	+0.202%	$309K	$503K	20x