Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0359%/8hpaid last 24h −0.015%

Price spread now: Gate against Hyperliquid−0.278%7-day average −0.192% · you buy dearer than you sell

to open and close $10k−$103fees + slippage, both legs, in and out

costs, in % of the position1.030%what the two incomes have to cover

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 7 days+0.096%+$10 · spread now −0.278%, 7d avg −0.192%

Together, before fees+0.011%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Gate is 0.086% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.192%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid KAS	0.04316	0.0459	pay 0.0057% / 1h	45m 58s	$2.8M	$838K	3x
Short	Gate KAS_USDT	0.04304	0.0100	get 0.0100% / 8h	4h 45m	$2.1M	$1.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.278%Rate

Funding earned: −$75.46
Price spread: −0.278% → −0.192%: −$8.6
Slippage, 4 orders: −$79.01
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$187.08
Costs to cover: 1.030%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Gate: live order book, 6 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 Hyperliquid live order book, 5 min ago	3.61 bp	24.9 bp −$25	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 6 min ago	2.34 bp	20.8 bp −$21	136.3 bp −$1,363	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	−0.0297%	1h	0.04309	−0.160%	$278K	$390K	20x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L −0.0222% / S +0.0215%	1h	0.04301	−0.352%	$9K	—	100x	as long as short
Variational Omni KAS	−0.0026%	4h	0.04277	−0.894%	$25K	$15K	—	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0009%	1h	0.04306	−0.237%	$12K	—	150x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04305	−0.254%	$254K	$176K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04308	−0.177%	$3.9M	$9.3M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04303	−0.301%	$10.5M	$5.9M	50x	as long as short
Gate KAS_USDTshort	+0.0100%	8h	0.04304	−0.278%	$2.1M	$1.4M	75x
MEXC KAS_USDT	+0.0100%	4h	0.04303	−0.301%	$25.7M	$3.2M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04309	−0.165%	$4.0M	$6.7M	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget KASUSDT	+0.0100%	4h	0.04306	−0.232%	$11.9M	$2.5M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04305	−0.255%	—	$67.9M	—	as long as short
Injective KAS/USDC PERP	+0.0121%	1h	0.04272	−1.019%	$44	$61K	5.5x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04297	−0.440%	$392K	$195K	75x	as long as short
Hyperliquid KASlong	+0.0459%	1h	0.04316	long leg	$2.8M	$838K	3x