Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0620%/8h= −67.9% APRpaid last 24h −0.153%

Price spread now: Variational Omni against Kraken Futures+0.222%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Variational Omni

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—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Variational Omni is 0.222% dearer against Kraken Futures than usual: you sell high and buy low (spread +0.222% now, against zero (this spread has no 7-day history yet)): +$22 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_KASUSD	0.04430	0.0720	pay 0.0090% / 1h	27m 00s	$313K	$473K	20x
Short	Variational Omni KAS	0.04440	0.0100	get 0.0050% / 4h	2h 27m	$26K	$20K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now +0.222%Rate

Funding earned: −$130.25
Price spread: +0.222% → 0.000%: $22.25
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$118
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Kraken Futures: live order book, 41 min ago; Variational Omni: no order-book sample. 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 Kraken Futures live order book, 41 min ago	10.22 bp	33.3 bp −$33	183.8 bp −$1,838	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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 14 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	0.04427	−0.082%	$3K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	−1.568%	$45	$154K	5.5x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04428	−0.064%	$4.2M	$12.0M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04420	−0.236%	$11.0M	$7.3M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04420	−0.236%	$2.2M	$1.7M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04429	−0.033%	$29.2M	$4.6M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04428	−0.055%	$4.4M	$6.9M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04423	−0.168%	$12.2M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04423	−0.168%	—	$67.9M	—	as long as short
Variational Omni KASshort	+0.0100%	4h	0.04440	+0.222%	$26K	$20K	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster KASUSDT	+0.0106%	4h	0.04433	+0.062%	$260K	$168K	20x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0293% / S −0.5848%	1h	0.04428	−0.049%	$12K	—	100x	as long as short
Hyperliquid KAS	+0.0405%	1h	0.04437	+0.150%	$2.9M	$1.0M	3x	as long as short
Kraken Futures PF_KASUSDlong	+0.0720%	1h	0.04430	long leg	$313K	$473K	20x