Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0304%/8h= −33.3% APRpaid last 24h −0.154%

Price spread now: Bybit against Kraken Futures−0.133%7-day average −0.233% · you buy dearer than you sell

Net, funding: paid 7d − costs−$258as in the Funding arb table

Net, price: spread back to 7d avg − costs−$98as in the Price arb table

costs, in and out, $10k−$1081.080% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.503%−$150 on $10k

Price spread, last 3 days (all we have)−0.453%−$45 · spread now −0.133%, 7d avg −0.233%

Together, before fees−1.956%−$196 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bybit is 0.101% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.133% now, against its 7-day average of −0.233%): +$10 on $10k if it goes back. Holding the pair costs −$9 a day in funding at the current rate, which eats that in about 27 hours. At the pace of the last 7 days (−1.503% in total) that is about 11 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_KASUSD	0.04369	0.0404	pay 0.0050% / 1h	40m 08s	$307K	$469K	20x
Short	Bybit KASUSDT	0.04363	0.0100	get 0.0050% / 4h	3h 40m	$10.8M	$7.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now −0.133%Rate

Funding earned: −$63.8
Price spread: −0.133% → −0.233%: $10.08
Slippage, 4 orders: −$86.96
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$161.68
Costs to cover: 1.080%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 33 min ago; Bybit: 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, 33 min ago	5.78 bp	32.8 bp −$33	316.5 bp −$3,165	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.14 bp	19.7 bp −$20	62.1 bp −$621	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	0.04364	−0.117%	$5K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	−0.178%	$45	$154K	5.5x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04362	−0.151%	$257K	$168K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04365	−0.076%	$4.1M	$11.7M	75x	as long as short
Bybit KASUSDTshort	+0.0100%	4h	0.04363	−0.133%	$10.8M	$7.2M	50x
Gate KAS_USDT	+0.0100%	8h	0.04358	−0.247%	$2.1M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04371	+0.051%	$28.3M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04364	−0.110%	$4.3M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04366	−0.064%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04362	−0.155%	—	$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	0.04364	−0.102%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0290% / S −0.5848%	1h	0.04363	−0.123%	$12K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04351	−0.407%	$371K	$246K	75x	as long as short
Kraken Futures PF_KASUSDlong	+0.0404%	1h	0.04369	long leg	$307K	$469K	20x
Hyperliquid KAS	+0.0549%	1h	0.04376	+0.154%	$2.8M	$1.0M	3x	as long as short