Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0051%/8h= +5.6% APRpaid last 24h +0.062%

Price spread now: Bybit against GMX−0.071%7-day average — · you buy dearer than you sell

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

Long on GMX Short on Bybit

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. Bybit is 0.071% cheaper against GMX than usual: you would sell low and buy high (spread −0.071% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 4.6 days of funding at the current rate (+$2 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX KAS/USD [WBTC.b-USDC]	0.04353	L +0.0049% / S −0.0107%	pay 0.0006% / 1h	4m 15s	$4K	—	100x
Short	Bybit KASUSDT	0.04350	0.0100	get 0.0050% / 4h	2h 04m	$10.8M	$7.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against GMX. 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 GMXbpFee BybitbpOrdersPrice spread, now −0.071%Rate

Funding earned: $10.79
Price spread: −0.071% → 0.000%: −$7.12
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$19.33
Costs to cover: 0.230%
Break-even: 19.5 days

Slippage unknown: GMX: no order-book sample; Bybit: live order book, 4 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 GMX no order-book sample	—	—	—	—	—
Sell Bybit live order book, 4 min ago	2.30 bp	23.7 bp −$24	67.5 bp −$675	doesn't fit	doesn't fit

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
Kraken Futures PF_KASUSD	−0.0192%	1h	0.04358	+0.106%	$291K	$439K	20x	as long as short
Injective KAS/USDC PERP	−0.0009%	1h	0.04361	+0.181%	$45	$154K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04356	+0.056%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]long	L +0.0049% / S −0.0107%	1h	0.04353	long leg	$4K	—	100x
Aster KASUSDT	+0.0100%	4h	0.04358	+0.108%	$255K	$199K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04357	+0.090%	$4.0M	$11.2M	75x	as long as short
Bybit KASUSDTshort	+0.0100%	4h	0.04350	−0.071%	$10.8M	$7.2M	50x
Gate KAS_USDT	+0.0100%	8h	0.04354	+0.021%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04356	+0.067%	$27.9M	$4.6M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04356	+0.074%	$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	0.04351	−0.048%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04353	−0.002%	—	$69.3M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04351	−0.053%	$26K	$20K	—	as long as short
Hyperliquid KAS	+0.0337%	1h	0.04366	+0.301%	$2.9M	$928K	3x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04353	−0.002%	$384K	$202K	75x	as long as short