Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.013%

Price spread now: Hyperliquid against Variational Omni+0.077%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

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 · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.077% dearer against Variational Omni than usual: you sell high and buy low, +$8 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni KAS	0.04362	0.0100	pay 0.0050% / 4h	2h 41m	$26K	$20K	—
Short	Hyperliquid KAS	0.04365	0.0100	get 0.0013% / 1h	41m 43s	$2.8M	$911K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.077%Rate

Funding earned: $0
Price spread: +0.077% → 0.000%: $7.74
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1.26
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Hyperliquid: live order book, 9 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 9 min ago	4.57 bp	18.6 bp −$19	doesn't fit	doesn't fit	doesn't fit

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 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	0.04356	−0.138%	$289K	$432K	20x	as long as short
Injective KAS/USDC PERP	−0.0009%	1h	0.04423	+1.398%	$46	$102K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04355	−0.169%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0036% / S +0.0042%	1h	0.04352	−0.223%	$4K	—	100x	as long as short
Hyperliquid KASshort	+0.0100%	1h	0.04365	+0.077%	$2.8M	$911K	3x
Binance KASUSDT	+0.0100%	4h	0.04362	−0.004%	$4.0M	$11.0M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04359	−0.069%	$10.8M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04352	−0.230%	$2.1M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04354	−0.184%	$27.8M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04361	−0.023%	$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	0.04358	−0.092%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04357	−0.115%	—	$69.1M	—	as long as short
Variational Omni KASlong	+0.0100%	4h	0.04362	long leg	$26K	$20K	—
Aster KASUSDT	+0.0116%	4h	0.04360	−0.056%	$256K	$197K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04349	−0.299%	$390K	$223K	75x	as long as short