Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0274%/8h= +30.0% APRpaid last 24h +0.120%

Price spread now: Kraken Futures against Bybit+0.073%7-day average +0.229% · you sell dearer than you buy

Net, funding: paid 7d − costs+$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$136as in the Price arb table

costs, in and out, $10k−$1211.207% of the position

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+1.564%+$156 on $10k

Price spread, last 4 days (all we have)+0.588%+$59 · spread now +0.073%, 7d avg +0.229%

Together, before fees+2.152%+$215 on $10k · with fees, hour by hour

Funding pays, the price is against you. Kraken Futures is 0.155% cheaper against Bybit than usual: you would sell low and buy high (spread +0.073% now, against its 7-day average of +0.229%). If the spread goes back, that is −$16 on $10k: about 45 hours of funding at the current rate (+$8 a day). At the pace of the last 7 days (+1.564% in total) that is about 17 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit KASUSDT	0.04348	0.0100	pay 0.0050% / 4h	2h 49m	$10.9M	$7.8M	50x
Short	Kraken Futures PF_KASUSD	0.04351	0.0374	get 0.0047% / 1h	49m 14s	$306K	$505K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.073%Rate

Funding earned: $57.45
Price spread: +0.073% → +0.229%: −$15.53
Slippage, 4 orders: −$99.72
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$78.81
Costs to cover: 1.207%
Break-even: 16.6 days

Slippage from Bybit: live order book, 4 min ago; Kraken Futures: live order book, 64 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 Bybit live order book, 4 min ago	1.15 bp	20.2 bp −$20	60.3 bp −$603	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 64 min ago	6.92 bp	48.7 bp −$49	177.1 bp −$1,771	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 −0.0001%	1h	0.04351	+0.077%	$4K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	+0.299%	$45	$154K	5.5x	as long as short
Hyperliquid KAS	+0.0100%	1h	0.04358	+0.228%	$2.8M	$1.1M	3x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04349	+0.027%	$256K	$145K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04353	+0.104%	$4.1M	$12.8M	75x	as long as short
Bybit KASUSDTlong	+0.0100%	4h	0.04348	long leg	$10.9M	$7.8M	50x
Gate KAS_USDT	+0.0100%	8h	0.04350	+0.046%	$2.2M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04353	+0.115%	$29.3M	$4.8M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04355	+0.149%	$4.3M	$7.4M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04350	+0.046%	$12.0M	$3.2M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX KAS-USDT	+0.0100%	4h	0.04350	+0.046%	—	$67.7M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04340	−0.190%	$24K	$24K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0284% / S −0.1996%	1h	0.04350	+0.037%	$11K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04355	+0.161%	$374K	$294K	75x	as long as short
Kraken Futures PF_KASUSDshort	+0.0374%	1h	0.04351	+0.073%	$306K	$505K	20x