Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.019%

Price spread now: KuCoin against Injective+1.000%55s7-day average +2.011% · you sell dearer than you buy

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

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.098%+$10 on $10k

Price spread, last 3 days (all we have)+2.753%+$275 · spread now +1.000%, 7d avg +2.011%

Together, before fees+2.851%+$285 on $10k · with fees, hour by hour

Funding pays, the price is against you. KuCoin is 1.011% cheaper against Injective than usual: you would sell low and buy high (spread +1.000% now, against its 7-day average of +2.011%). If the spread goes back, that is −$101 on $10k: about 51 days of funding at the current rate (+$2 a day). The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective KAS/USDC PERP	0.04361	0.0033	pay 0.0004% / 1h	4m 31s	$45	$154K	5.5x
Short	KuCoin KASUSDTM	0.04405	0.0100	get 0.0050% / 4h	3h 04m	$4.3M	$6.9M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. 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 InjectivebpFee KuCoinbpOrdersPrice spread, now +1.000%Rate

Funding earned: $14
Price spread: +1.000% → +2.011%: −$101.11
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$99.13
Costs to cover: 0.120%
Break-even: 56.6 days

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 3 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 Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 3 min ago	3.18 bp	26.1 bp −$26	133.7 bp −$1,337	doesn't fit	doesn't fit

Injective: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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 0.0000%	1h	0.04403	+0.954%	$3K	—	150x	as long as short
Injective KAS/USDC PERPlong	+0.0033%	1h	0.04361	long leg	$45	$154K	5.5x
Aster KASUSDT	+0.0100%	4h	0.04401	+0.921%	$259K	$168K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04407	+1.055%	$4.1M	$11.7M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04404	+0.986%	$10.9M	$7.2M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04398	+0.848%	$2.2M	$1.7M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04404	+0.986%	$28.5M	$4.5M	200x	as long as short
KuCoin KASUSDTMshort	+0.0100%	4h	0.04405	+1.000%	$4.3M	$6.9M	50x
Bitget KASUSDT	+0.0100%	4h	0.04403	+0.963%	$12.1M	$2.9M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04402	+0.940%	—	$67.9M	—	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	0.04394	+0.750%	$26K	$21K	—	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0292% / S −0.5848%	1h	0.04403	+0.954%	$12K	—	100x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04386	+0.573%	$379K	$284K	75x	as long as short
Kraken Futures PF_KASUSD	+0.0401%	1h	0.04402	+0.936%	$310K	$467K	20x	as long as short
Hyperliquid KAS	+0.0465%	1h	0.04414	+1.220%	$2.8M	$1.0M	3x	as long as short