Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.008%

Price spread now: Bitget against Hyperliquid−0.245%7-day average −0.158% · you buy dearer than you sell

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

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.055%−$5 on $10k

Price spread, last 7 days+0.107%+$11 · spread now −0.245%, 7d avg −0.158%

Together, before fees+0.053%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.087% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.158%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid KAS	0.04376	0.0100	pay 0.0013% / 1h	48m 11s	$2.9M	$910K	3x
Short	Bitget KASUSDT	0.04365	0.0100	get 0.0050% / 4h	2h 48m	$12.0M	$2.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.245%Rate

Funding earned: $0
Price spread: −0.245% → −0.158%: −$8.68
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$29.68
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 3 min ago; Bitget: live order book, 5 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 Hyperliquid live order book, 3 min ago	4.57 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	3.43 bp	21.1 bp −$21	48.6 bp −$486	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
Kraken Futures PF_KASUSD	−0.0191%	1h	0.04372	−0.090%	$289K	$432K	20x	as long as short
Injective KAS/USDC PERP	−0.0009%	1h	0.04423	+1.081%	$46	$102K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04368	−0.179%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0035% / S +0.0050%	1h	0.04368	−0.181%	$4K	—	100x	as long as short
Hyperliquid KASlong	+0.0100%	1h	0.04376	long leg	$2.9M	$910K	3x
Binance KASUSDT	+0.0100%	4h	0.04370	−0.139%	$4.0M	$11.0M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04367	−0.199%	$10.7M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04362	−0.313%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04370	−0.130%	$27.9M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04369	−0.158%	$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 KASUSDTshort	+0.0100%	4h	0.04365	−0.245%	$12.0M	$2.9M	50x
BingX KAS-USDT	+0.0100%	4h	0.04366	−0.222%	—	$69.1M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04377	+0.030%	$26K	$20K	—	as long as short
Aster KASUSDT	+0.0124%	4h	0.04370	−0.132%	$257K	$197K	20x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04372	−0.085%	$389K	$224K	75x	as long as short