Funding arb · Price arb /

KAT

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0015%/8h= −1.6% APRpaid last 24h −0.037%

Price spread now: Katana Perps against Bybit−0.081%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on Katana Perps

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs $0 a day on $10k at the current rate, and Katana Perps is 0.081% cheaper against Bybit than usual: you would sell low and buy high (−$8 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	Bybit KATUSDT	0.004923	0.0127	pay 0.0063% / 4h	54m 04s	$825K	$314K	25x
Short	Katana Perps KAT-USD	0.004919	0.0112	get 0.0112% / 8h	54m 04s	$1K	$2K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Katana Perps against Bybit. 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 BybitbpFee Katana PerpsbpOrdersPrice spread, now −0.081%Rate

Funding earned: −$3.05
Price spread: −0.081% → 0.000%: −$8.13
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Katana Perps: 1.9 bp × 2 orders: −$3.8
Net: −$25.98
Costs to cover: 0.148%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 21 min ago; Katana Perps: 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 Bybit live order book, 21 min ago	3.07 bp	119.8 bp −$120	1509.6 bp −$15.1K	doesn't fit	doesn't fit
Sell Katana Perps no order-book sample	—	—	—	—	—

Katana Perps: 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.

KAT on 13 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
Binance KATUSDT	+0.0100%	4h	0.004922	−0.020%	$2.3M	$3.2M	25x	as long as short
OKX KAT-USDT-SWAP	+0.0100%	4h	0.004915	−0.163%	$854K	$1.4M	20x	as long as short
Gate KAT_USDT	+0.0100%	4h	0.004910	−0.264%	$217K	$117K	50x	as long as short
MEXC KAT_USDT	+0.0100%	4h	0.004922	−0.020%	$271K	$115K	20x	as long as short
KuCoin KATUSDTM	+0.0100%	4h	0.004926	+0.061%	$204K	$57K	10x	as long as short
Bitget KATUSDT	+0.0100%	4h	0.004924	+0.020%	$542K	$222K	20x	as long as short
BingX KAT-USDT	+0.0100%	4h	0.004921	−0.041%	—	$1.7M	—	as long as short
SunX KAT-USDT	+0.0100%	4h	0.004910	−0.264%	$2K	$1.0M	20x	as long as short
Extended KAT-USD	+0.0104%	1h	0.004921	−0.039%	$5K	$157K	5x	as long as short
Katana Perps KAT-USDshort	+0.0112%	8h	0.004919	−0.081%	$1K	$2K	5x

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit KATUSDTlong	+0.0127%	4h	0.004923	long leg	$825K	$314K	25x
BloFin KAT-USDT	+0.0138%	4h	0.004914	−0.183%	$127K	$17K	50x	as long as short
Aster KATUSDT	+0.0273%	4h	0.004917	−0.117%	$24K	$31K	5x	as long as short