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 +0.008%

Price spread now: Hyperliquid against BingX+0.112%7-day average +0.154% · you sell dearer than you buy

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$92as in the Price arb table

costs, in and out, $10k−$880.876% of the position

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.011%+$1 on $10k

Price spread, last 7 days+0.029%+$3 · spread now +0.112%, 7d avg +0.154%

Together, before fees+0.040%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.041% cheaper against BingX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.154%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX KAS-USDT	0.04356	0.0100	pay 0.0050% / 4h	2h 31m	—	$69.1M	—
Short	Hyperliquid KAS	0.04361	0.0100	get 0.0013% / 1h	31m 52s	$2.8M	$914K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.112%Rate

Funding earned: $0
Price spread: +0.112% → +0.154%: −$4.12
Slippage, 4 orders: −$68.62
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$91.74
Costs to cover: 0.876%
Break-even: never at this rate

Slippage from BingX: live order book, 2 min ago; Hyperliquid: live order book, 9 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 BingX live order book, 2 min ago	4.60 bp	19.5 bp −$19	53.0 bp −$530	389.8 bp −$39.0K	508.1 bp −$254.0K
Sell Hyperliquid live order book, 9 min ago	4.12 bp	17.8 bp −$18	doesn't fit	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
Kraken Futures PF_KASUSD	−0.0192%	1h	0.04358	+0.043%	$291K	$437K	20x	as long as short
Injective KAS/USDC PERP	−0.0009%	1h	0.04361	+0.115%	$45	$154K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04350	−0.149%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0037% / S +0.0029%	1h	0.04351	−0.106%	$4K	—	100x	as long as short
Hyperliquid KASshort	+0.0100%	1h	0.04361	+0.112%	$2.8M	$914K	3x
Binance KASUSDT	+0.0100%	4h	0.04356	+0.008%	$4.0M	$11.0M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04353	−0.069%	$10.7M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04353	−0.069%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04357	+0.023%	$28.0M	$4.6M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04357	+0.030%	$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	0.04353	−0.069%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDTlong	+0.0100%	4h	0.04356	long leg	—	$69.1M	—
Variational Omni KAS	+0.0100%	4h	0.04358	+0.042%	$26K	$20K	—	as long as short
Aster KASUSDT	+0.0106%	4h	0.04357	+0.021%	$256K	$199K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04364	+0.184%	$386K	$201K	75x	as long as short