Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0278%/8h= −30.5% APRpaid last 24h −0.120%

Price spread now: BingX against Kraken Futures−0.109%7-day average −0.182% · you buy dearer than you sell

Net, funding: paid 7d − costs−$272as in the Funding arb table

Net, price: spread back to 7d avg − costs−$111as in the Price arb table

costs, in and out, $10k−$1181.181% of the position

Long on Kraken Futures Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−1.539%−$154 on $10k

Price spread, last 4 days (all we have)−0.539%−$54 · spread now −0.109%, 7d avg −0.182%

Together, before fees−2.078%−$208 on $10k · with fees, hour by hour

The price spread pays, funding is against you. BingX is 0.073% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.109% now, against its 7-day average of −0.182%): +$7 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 21 hours. At the pace of the last 7 days (−1.539% in total) that is about 8 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_KASUSD	0.04297	0.0378	pay 0.0047% / 1h	2m 12s	$307K	$502K	20x
Short	BingX KAS-USDT	0.04292	0.0100	get 0.0050% / 4h	2h 02m	—	$67.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Kraken Futures. 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 Kraken FuturesbpFee BingXbpOrdersPrice spread, now −0.109%Rate

Funding earned: −$58.44
Price spread: −0.109% → −0.182%: $7.33
Slippage, 4 orders: −$98.13
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee BingX: 5 bp × 2 orders: −$10
Net: −$169.24
Costs to cover: 1.181%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 46 min ago; BingX: live order book, 7 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 Kraken Futures live order book, 46 min ago	9.22 bp	36.0 bp −$36	259.2 bp −$2,592	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	5.82 bp	24.4 bp −$24	54.3 bp −$543	298.2 bp −$29.8K	475.2 bp −$237.6K

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 −0.0001%	1h	0.04291	−0.140%	$4K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	+1.497%	$45	$154K	5.5x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04291	−0.129%	$252K	$146K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04294	−0.062%	$4.1M	$12.8M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04288	−0.202%	$10.8M	$7.8M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04290	−0.155%	$2.1M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04294	−0.062%	$29.2M	$5.1M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04297	+0.001%	$4.3M	$7.4M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04290	−0.155%	$11.8M	$3.2M	50x	as long as short
BingX KAS-USDTshort	+0.0100%	4h	0.04292	−0.109%	—	$67.7M	—

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni KAS	+0.0100%	4h	0.04285	−0.266%	$23K	$24K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0282% / S −0.1996%	1h	0.04289	−0.178%	$11K	—	100x	as long as short
Hyperliquid KAS	+0.0329%	1h	0.04302	+0.129%	$2.8M	$1.1M	3x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04300	+0.078%	$368K	$294K	75x	as long as short
Kraken Futures PF_KASUSDlong	+0.0378%	1h	0.04297	long leg	$307K	$502K	20x