Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: Bybit against Injective+0.504%7-day average +1.930% · you sell dearer than you buy

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

Long on Injective Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.087%+$9 on $10k

Price spread, last 3 days (all we have)+3.187%+$319 · spread now +0.504%, 7d avg +1.930%

Together, before fees+3.274%+$327 on $10k · with fees, hour by hour

Funding pays, the price is against you. Bybit is 1.426% cheaper against Injective than usual: you would sell low and buy high (spread +0.504% now, against its 7-day average of +1.930%). If the spread goes back, that is −$143 on $10k: about 2 months of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective KAS/USDC PERP	0.04361	0.0033	pay 0.0004% / 1h	54m 57s	$45	$154K	5.5x
Short	Bybit KASUSDT	0.04383	0.0100	get 0.0050% / 4h	2h 54m	$10.9M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Injective. 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 InjectivebpFee BybitbpOrdersPrice spread, now +0.504%Rate

Funding earned: $14
Price spread: +0.504% → +1.930%: −$142.59
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$139.61
Costs to cover: 0.110%
Break-even: 76.8 days

Slippage unknown: Injective: no order-book sample; Bybit: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	2.27 bp	22.1 bp −$22	69.2 bp −$692	doesn't fit	doesn't fit

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 0.0000%	1h	0.04391	+0.689%	$3K	—	150x	as long as short
Injective KAS/USDC PERPlong	+0.0033%	1h	0.04361	long leg	$45	$154K	5.5x
Aster KASUSDT	+0.0100%	4h	0.04392	+0.715%	$259K	$168K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04386	+0.571%	$4.1M	$11.8M	75x	as long as short
Bybit KASUSDTshort	+0.0100%	4h	0.04383	+0.504%	$10.9M	$7.3M	50x
Gate KAS_USDT	+0.0100%	8h	0.04379	+0.413%	$2.2M	$1.7M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04386	+0.573%	$28.6M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04385	+0.539%	$4.3M	$6.9M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04382	+0.482%	$12.1M	$2.9M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04384	+0.527%	—	$67.9M	—	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	0.04389	+0.649%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0292% / S −0.5848%	1h	0.04391	+0.688%	$12K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04396	+0.803%	$379K	$288K	75x	as long as short
Hyperliquid KAS	+0.0479%	1h	0.04402	+0.945%	$2.8M	$1.0M	3x	as long as short
Kraken Futures PF_KASUSD	+0.0726%	1h	0.04393	+0.743%	$308K	$468K	20x	as long as short