Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.4871%/8h= +533.3% APRpaid last 24h −0.035%

Price spread now: GMX against Bybit−0.028%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 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—needs both histories

Funding pays, the price is against you. GMX is 0.028% cheaper against Bybit than usual: you would sell low and buy high (spread −0.028% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about under an hour of funding at the current rate (+$146 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit KASUSDT	0.04332	0.0100	pay 0.0050% / 4h	19m 08s	$10.7M	$7.1M	50x
Short	GMX KAS/USD [WBTC.b-USDC]	0.04331	L +0.0262% / S −0.4971%	get 0.0621% / 1h	19m 08s	$12K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bybit. 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 BybitbpFee GMXbpOrdersPrice spread, now −0.028%Rate

Funding earned: $1,022.84
Price spread: −0.028% → 0.000%: −$2.77
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: $997.07
Costs to cover: 0.230%
Break-even: 0.2 days

Slippage unknown: Bybit: live order book, 4 min ago; 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 Bybit live order book, 4 min ago	2.32 bp	22.0 bp −$22	62.7 bp −$627	doesn't fit	doesn't fit
Sell GMX no order-book sample	—	—	—	—	—

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
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04333	+0.023%	$11K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	+0.669%	$45	$154K	5.5x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04330	−0.045%	$255K	$168K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04335	+0.069%	$4.0M	$11.3M	75x	as long as short
Bybit KASUSDTlong	+0.0100%	4h	0.04332	long leg	$10.7M	$7.1M	50x
Gate KAS_USDT	+0.0100%	8h	0.04331	−0.023%	$2.1M	$1.7M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04337	+0.115%	$28.1M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04335	+0.074%	$4.2M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04333	+0.023%	$11.9M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04333	+0.023%	—	$69.5M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni KAS	+0.0100%	4h	0.04331	−0.025%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]short	L +0.0262% / S −0.4971%	1h	0.04331	−0.028%	$12K	—	100x
Kraken Futures PF_KASUSD	+0.0316%	1h	0.04334	+0.035%	$299K	$455K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04336	+0.092%	$376K	$204K	75x	as long as short
Hyperliquid KAS	+0.1052%	1h	0.04344	+0.272%	$2.8M	$1.0M	3x	as long as short