Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0070%/8h= −7.7% APRpaid last 24h −0.058%

Price spread now: KuCoin against Hyperliquid−0.079%7-day average −0.105% · you buy dearer than you sell

Net, funding: paid 7d − costs−$122as in the Funding arb table

Net, price: spread back to 7d avg − costs−$112as in the Price arb table

costs, in and out, $10k−$1141.145% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 7 days+0.162%+$16 · spread now −0.079%, 7d avg −0.105%

Together, before fees+0.088%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

The price spread pays, funding is against you. KuCoin is 0.026% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.079% now, against its 7-day average of −0.105%): +$3 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 29 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid KAS	0.04303	0.0170	pay 0.0021% / 1h	34m 33s	$2.8M	$1.1M	3x
Short	KuCoin KASUSDTM	0.04299	0.0100	get 0.0050% / 4h	2h 34m	$4.3M	$7.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.079%Rate

Funding earned: −$14.76
Price spread: −0.079% → −0.105%: $2.59
Slippage, 4 orders: −$93.45
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$126.63
Costs to cover: 1.145%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; KuCoin: live order book, 8 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, 7 min ago	2.20 bp	18.1 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 8 min ago	6.23 bp	36.2 bp −$36	144.7 bp −$1,447	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	0.04307	+0.105%	$4K	—	150x	as long as short
Injective KAS/USDC PERP	+0.0033%	1h	0.04361	+1.360%	$45	$154K	5.5x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04301	−0.042%	$253K	$146K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04296	−0.151%	$4.1M	$12.9M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04293	−0.221%	$10.8M	$7.8M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04294	−0.198%	$2.1M	$1.8M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04295	−0.174%	$28.9M	$4.9M	200x	as long as short
KuCoin KASUSDTMshort	+0.0100%	4h	0.04299	−0.079%	$4.3M	$7.4M	50x
Bitget KASUSDT	+0.0100%	4h	0.04295	−0.174%	$11.8M	$3.2M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04295	−0.174%	—	$67.7M	—	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	0.04299	−0.085%	$23K	$24K	—	as long as short
Hyperliquid KASlong	+0.0170%	1h	0.04303	long leg	$2.8M	$1.1M	3x
GMX KAS/USD [WBTC.b-USDC]	L +0.0283% / S −0.1996%	1h	0.04306	+0.091%	$11K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04312	+0.221%	$374K	$294K	75x	as long as short
Kraken Futures PF_KASUSD	+0.0377%	1h	0.04310	+0.183%	$304K	$506K	20x	as long as short