Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Binance+1.019%57s7-day average −1.736% · you sell dearer than you buy

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 4 days (all we have)−3.366%−$337 · spread now +1.019%, 7d avg −1.736%

Together, before fees−3.479%−$348 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Injective is 2.755% dearer against Binance than usual: you sell high and buy low (spread +1.019% now, against its 7-day average of −1.736%): +$276 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 5 months. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance KASUSDT	0.04317	0.0100	pay 0.0050% / 4h	3h 02m	$3.9M	$13.0M	75x
Short	Injective KAS/USDC PERP	0.04361	0.0033	get 0.0004% / 1h	2m 28s	$45	$154K	5.5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now +1.019%Rate

Funding earned: −$14
Price spread: +1.019% → −1.736%: $275.52
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $251.5
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Binance: live order book, 8 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 Binance live order book, 8 min ago	1.16 bp	16.7 bp −$17	58.5 bp −$585	373.4 bp −$37.3K	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
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0008%	1h	0.04313	−0.094%	$14K	—	150x	as long as short
Injective KAS/USDC PERPshort	+0.0033%	1h	0.04361	+1.019%	$45	$154K	5.5x
Aster KASUSDT	+0.0100%	4h	0.04318	+0.013%	$253K	$130K	20x	as long as short
Binance KASUSDTlong	+0.0100%	4h	0.04317	long leg	$3.9M	$13.0M	75x
Bybit KASUSDT	+0.0100%	4h	0.04312	−0.116%	$10.9M	$7.8M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04309	−0.185%	$2.2M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04317	0.000%	$29.6M	$5.3M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04318	+0.025%	$4.5M	$7.1M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04311	−0.139%	$11.8M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04315	−0.046%	—	$53.6M	—	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	0.04315	−0.051%	$23K	$23K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0282% / S −0.1996%	1h	0.04313	−0.083%	$11K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04320	+0.069%	$350K	$286K	75x	as long as short
Hyperliquid KAS	+0.0472%	1h	0.04324	+0.160%	$2.8M	$1.0M	3x	as long as short
Kraken Futures PF_KASUSD	+0.0704%	1h	0.04319	+0.048%	$303K	$512K	20x	as long as short