Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0065%/8h= +7.1% APRpaid last 24h +0.062%

Price spread now: Bybit against GMX−0.023%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bybit

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. Bybit is 0.023% cheaper against GMX than usual: you would sell low and buy high (spread −0.023% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$2 on $10k: about 28 hours of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX KAS/USD [WBTC.b-USDC]	0.04376	L +0.0035% / S +0.0055%	pay 0.0004% / 1h	51m 59s	$4K	—	100x
Short	Bybit KASUSDT	0.04375	0.0100	get 0.0050% / 4h	2h 51m	$10.8M	$7.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now −0.023%Rate

Funding earned: $13.66
Price spread: −0.023% → 0.000%: −$2.29
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$11.62
Costs to cover: 0.230%
Break-even: 13.0 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 1 min ago. 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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 1 min ago	5.71 bp	18.7 bp −$19	57.9 bp −$579	doesn't fit	doesn't fit

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
Kraken Futures PF_KASUSD	−0.0191%	1h	0.04382	+0.130%	$290K	$431K	20x	as long as short
Injective KAS/USDC PERP	−0.0009%	1h	0.04423	+1.074%	$46	$102K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04376	−0.007%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]long	L +0.0035% / S +0.0055%	1h	0.04376	long leg	$4K	—	100x
Hyperliquid KAS	+0.0100%	1h	0.04384	+0.185%	$2.9M	$905K	3x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04380	+0.091%	$4.0M	$11.0M	75x	as long as short
Bybit KASUSDTshort	+0.0100%	4h	0.04375	−0.023%	$10.8M	$7.1M	50x
Gate KAS_USDT	+0.0100%	8h	0.04375	−0.023%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04377	+0.023%	$27.8M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04378	+0.050%	$4.2M	$6.8M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget KASUSDT	+0.0100%	4h	0.04377	+0.023%	$12.0M	$2.9M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04376	0.000%	—	$69.1M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04386	+0.228%	$26K	$20K	—	as long as short
Aster KASUSDT	+0.0131%	4h	0.04379	+0.062%	$257K	$197K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04393	+0.388%	$391K	$225K	75x	as long as short