Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0109%/8h= −12.0% APRpaid last 24h −0.022%

Price spread now: Injective against Bybit+0.207%7-day average −2.021% · you sell dearer than you buy

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

Long on Bybit Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.090%−$9 on $10k

Price spread, last 3 days (all we have)−3.246%−$325 · spread now +0.207%, 7d avg −2.021%

Together, before fees−3.336%−$334 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.228% dearer against Bybit than usual: you sell high and buy low (spread +0.207% now, against its 7-day average of −2.021%): +$223 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 2 months. At the pace of the last 7 days (−0.090% in total) that is about 6 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit KASUSDT	0.04352	0.0100	pay 0.0050% / 4h	2h 03m	$10.8M	$7.2M	50x
Short	Injective KAS/USDC PERP	0.04361	−0.0009	pay 0.0001% / 1h	3m 03s	$45	$154K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.207%Rate

Funding earned: −$22.96
Price spread: +0.207% → −2.021%: $222.82
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $188.84
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 5 min ago; Injective: 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, 5 min ago	2.30 bp	17.7 bp −$18	63.5 bp −$635	doesn't fit	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	0.04354	+0.049%	$291K	$439K	20x	as long as short
Injective KAS/USDC PERPshort	−0.0009%	1h	0.04361	+0.207%	$45	$154K	5.5x
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04353	+0.012%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0049% / S −0.0107%	1h	0.04349	−0.067%	$4K	—	100x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04357	+0.125%	$255K	$199K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04354	+0.046%	$4.0M	$11.2M	75x	as long as short
Bybit KASUSDTlong	+0.0100%	4h	0.04352	long leg	$10.8M	$7.2M	50x
Gate KAS_USDT	+0.0100%	8h	0.04350	−0.046%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04355	+0.069%	$27.9M	$4.6M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04354	+0.048%	$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	0.04348	−0.092%	$11.9M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04353	+0.023%	—	$69.3M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04351	−0.027%	$26K	$20K	—	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04355	+0.069%	$385K	$202K	75x	as long as short
Hyperliquid KAS	+0.0351%	1h	0.04364	+0.278%	$2.9M	$928K	3x	as long as short