Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0010%/8h= +1.1% APRpaid last 24h −0.163%

Price spread now: BingX against Kraken Futures−0.045%7-day average −0.190% · you buy dearer than you sell

Net, funding: paid 7d − costs−$275as in the Funding arb table

Net, price: spread back to 7d avg − costs−$115as in the Price arb table

costs, in and out, $10k−$1301.299% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.454%−$145 on $10k

Price spread, last 3 days (all we have)−0.706%−$71 · spread now −0.045%, 7d avg −0.190%

Together, before fees−2.160%−$216 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays $0 a day on $10k at the current rate, and BingX is 0.145% dearer against Kraken Futures than usual: you sell high and buy low: +$15 more if the spread goes back to its 7-day average of −0.190%. Mind the row above: over the last 7 days funding on this pair cost −1.454%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_KASUSD	0.04354	0.0090	pay 0.0011% / 1h	35m 54s	$292K	$440K	20x
Short	BingX KAS-USDT	0.04352	0.0100	get 0.0050% / 4h	1h 35m	—	$69.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.045%Rate

Funding earned: $2.12
Price spread: −0.045% → −0.190%: $14.52
Slippage, 4 orders: −$109.91
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$113.28
Costs to cover: 1.299%
Break-even: 381.7 days

Slippage from Kraken Futures: live order book, 47 min ago; BingX: live order book, 3 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 Kraken Futures live order book, 47 min ago	7.95 bp	45.5 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	4.59 bp	19.9 bp −$20	47.9 bp −$479	304.3 bp −$30.4K	432.2 bp −$216.1K

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 −0.0017%	1h	0.04351	−0.072%	$11K	—	150x	as long as short
Kraken Futures PF_KASUSDlong	+0.0090%	1h	0.04354	long leg	$292K	$440K	20x
Aster KASUSDT	+0.0100%	4h	0.04357	+0.070%	$255K	$199K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04358	+0.094%	$4.0M	$11.2M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04352	−0.045%	$10.8M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04351	−0.068%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04354	+0.001%	$27.9M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04352	−0.041%	$4.2M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04350	−0.091%	$12.0M	$2.9M	50x	as long as short
BingX KAS-USDTshort	+0.0100%	4h	0.04352	−0.045%	—	$69.5M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni KAS	+0.0100%	4h	0.04376	+0.506%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0147% / S −0.1347%	1h	0.04351	−0.077%	$11K	—	100x	as long as short
Injective KAS/USDC PERP	+0.0329%	1h	0.04361	+0.162%	$45	$154K	5.5x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04361	+0.162%	$381K	$201K	75x	as long as short
Hyperliquid KAS	+0.0467%	1h	0.04360	+0.143%	$2.8M	$923K	3x	as long as short