Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0216%/8h= +23.6% APRpaid last 24h +0.160%

Price spread now: Kraken Futures against Binance−0.034%7-day average +0.143% · you buy dearer than you sell

Net, funding: paid 7d − costs+$38as in the Funding arb table

Net, price: spread back to 7d avg − costs−$126as in the Price arb table

costs, in and out, $10k−$1091.085% of the position

Long on Binance Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.462%+$146 on $10k

Price spread, last 3 days (all we have)+0.617%+$62 · spread now −0.034%, 7d avg +0.143%

Together, before fees+2.080%+$208 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.176% cheaper against Binance than usual: you would sell low and buy high (spread −0.034% now, against its 7-day average of +0.143%). If the spread goes back, that is −$18 on $10k: about 2.7 days of funding at the current rate (+$6 a day). At the pace of the last 7 days (+1.462% in total) that is about 20 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance KASUSDT	0.04335	0.0100	pay 0.0050% / 4h	19m 13s	$4.0M	$11.3M	75x
Short	Kraken Futures PF_KASUSD	0.04334	0.0316	get 0.0039% / 1h	19m 13s	$299K	$455K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Binance. 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 BinancebpFee Kraken FuturesbpOrdersPrice spread, now −0.034%Rate

Funding earned: $45.28
Price spread: −0.034% → +0.143%: −$17.65
Slippage, 4 orders: −$88.51
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$80.88
Costs to cover: 1.085%
Break-even: 19.5 days

Slippage from Binance: live order book, 6 min ago; Kraken Futures: live order book, 59 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 Binance live order book, 6 min ago	1.16 bp	14.2 bp −$14	57.4 bp −$574	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 59 min ago	5.73 bp	42.5 bp −$43	158.5 bp −$1,585	doesn't fit	doesn't fit

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	−0.046%	$11K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	+0.600%	$45	$154K	5.5x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04330	−0.115%	$255K	$168K	20x	as long as short
Binance KASUSDTlong	+0.0100%	4h	0.04335	long leg	$4.0M	$11.3M	75x
Bybit KASUSDT	+0.0100%	4h	0.04332	−0.069%	$10.7M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04331	−0.092%	$2.1M	$1.7M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04337	+0.046%	$28.1M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04335	+0.005%	$4.2M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04333	−0.046%	$11.9M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04333	−0.046%	—	$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	−0.094%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0262% / S −0.4971%	1h	0.04331	−0.097%	$12K	—	100x	as long as short
Kraken Futures PF_KASUSDshort	+0.0316%	1h	0.04334	−0.034%	$299K	$455K	20x
BloFin KAS-USDT	+0.0340%	4h	0.04336	+0.023%	$376K	$204K	75x	as long as short
Hyperliquid KAS	+0.1052%	1h	0.04344	+0.203%	$2.8M	$1.0M	3x	as long as short