Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0138%/8h= −15.1% APRpaid last 24h −0.074%

Price spread now: GMX against Variational Omni−0.340%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on GMX

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

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and GMX is 0.340% cheaper against Variational Omni than usual: you would sell low and buy high (−$34 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni KAS	0.04359	0.0100	pay 0.0050% / 4h	2h 39m	$26K	$20K	—
Short	GMX KAS/USD [WBTC.b-USDC]	0.04344	L +0.0036% / S +0.0038%	pay 0.0005% / 1h	39m 07s	$4K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Variational Omni. 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 Variational OmnibpFee GMXbpOrdersPrice spread, now −0.340%Rate

Funding earned: −$29.03
Price spread: −0.340% → 0.000%: −$34
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee GMX: 6 bp × 2 orders: −$12
Net: −$75.04
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; GMX: 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 Variational Omni no order-book sample	—	—	—	—	—
Sell GMX no order-book sample	—	—	—	—	—

Variational Omni and GMX: 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
Kraken Futures PF_KASUSD	−0.0192%	1h	0.04346	−0.292%	$290K	$437K	20x	as long as short
Injective KAS/USDC PERP	−0.0009%	1h	0.04361	+0.045%	$45	$154K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04345	−0.332%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]short	L +0.0036% / S +0.0038%	1h	0.04344	−0.340%	$4K	—	100x
Hyperliquid KAS	+0.0100%	1h	0.04349	−0.232%	$2.8M	$910K	3x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04344	−0.334%	$4.0M	$11.0M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04338	−0.482%	$10.7M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04337	−0.505%	$2.1M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04343	−0.368%	$27.7M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04343	−0.370%	$4.2M	$6.8M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget KASUSDT	+0.0100%	4h	0.04337	−0.505%	$11.9M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04341	−0.413%	—	$69.1M	—	as long as short
Variational Omni KASlong	+0.0100%	4h	0.04359	long leg	$26K	$20K	—
Aster KASUSDT	+0.0122%	4h	0.04350	−0.215%	$256K	$197K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04357	−0.046%	$389K	$223K	75x	as long as short