Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: KuCoin against Injective−2.066%55s7-day average +1.851% · you buy dearer than you sell

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

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.099%+$10 on $10k

Price spread, last 4 days (all we have)+5.513%+$551 · spread now −2.066%, 7d avg +1.851%

Together, before fees+5.613%+$561 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 3.917% cheaper against Injective than usual: you would sell low and buy high (spread −2.066% now, against its 7-day average of +1.851%). If the spread goes back, that is −$392 on $10k: about 7 months of funding at the current rate (+$2 a day). The two prices were read 55 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	Injective KAS/USDC PERP	0.04361	0.0033	pay 0.0004% / 1h	16m 26s	$45	$154K	5.5x
Short	KuCoin KASUSDTM	0.04271	0.0100	get 0.0050% / 4h	2h 16m	$4.3M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −2.066%Rate

Funding earned: $14
Price spread: −2.066% → +1.851%: −$391.68
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$389.7
Costs to cover: 0.120%
Break-even: 201.9 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 2 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 KuCoin live order book, 2 min ago	5.34 bp	34.8 bp −$35	144.1 bp −$1,441	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 −0.0001%	1h	0.04267	−2.156%	$4K	—	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	0.04281	−1.826%	$252K	$146K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04272	−2.032%	$4.1M	$12.9M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04267	−2.155%	$10.8M	$7.7M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04269	−2.110%	$2.1M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04280	−1.857%	$28.8M	$5.0M	200x	as long as short
KuCoin KASUSDTMshort	+0.0100%	4h	0.04271	−2.066%	$4.3M	$7.4M	50x
Bitget KASUSDT	+0.0100%	4h	0.04268	−2.133%	$11.8M	$3.1M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04268	−2.133%	—	$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	0.04291	−1.599%	$23K	$24K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0283% / S −0.1996%	1h	0.04298	−1.449%	$11K	—	100x	as long as short
Hyperliquid KAS	+0.0296%	1h	0.04277	−1.917%	$2.7M	$1.1M	3x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04305	−1.284%	$370K	$294K	75x	as long as short
Kraken Futures PF_KASUSD	+0.0378%	1h	0.04302	−1.345%	$304K	$507K	20x	as long as short