Funding arb · Price arb /

KAS

all KAS markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0292%/8h= +31.9% APRpaid last 24h −0.166%

Price spread now: Bybit against Kraken Futures+0.004%7-day average −0.238% · you sell dearer than you buy

Net, funding: paid 7d − costs−$276as in the Funding arb table

Net, price: spread back to 7d avg − costs−$104as in the Price arb table

costs, in and out, $10k−$1291.286% of the position

Long on Kraken Futures Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−1.472%−$147 on $10k

Price spread, last 3 days (all we have)−0.732%−$73 · spread now +0.004%, 7d avg −0.238%

Together, before fees−2.204%−$220 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Bybit is 0.242% dearer against Kraken Futures than usual: you sell high and buy low: +$24 more if the spread goes back to its 7-day average of −0.238%. Mind the row above: over the last 7 days funding on this pair cost −1.472%, so the current rate has only just turned in your favour.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_KASUSD	0.04362	−0.0192	get 0.0024% / 1h	0m 32s	$292K	$439K	20x
Short	Bybit KASUSDT	0.04362	0.0100	get 0.0050% / 4h	2h 00m	$10.8M	$7.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Kraken Futures. 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 Kraken FuturesbpFee BybitbpOrdersPrice spread, now +0.004%Rate

Funding earned: $61.25
Price spread: +0.004% → −0.238%: $24.19
Slippage, 4 orders: −$107.56
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$43.12
Costs to cover: 1.286%
Break-even: 11.9 days

Slippage from Kraken Futures: live order book, 22 min ago; Bybit: live order book, 3 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 Kraken Futures live order book, 22 min ago	7.95 bp	45.5 bp −$45	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 3 min ago	1.15 bp	17.8 bp −$18	61.9 bp −$619	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_KASUSDlong	−0.0192%	1h	0.04362	long leg	$292K	$439K	20x
Injective KAS/USDC PERP	−0.0009%	1h	0.04361	−0.019%	$45	$154K	5.5x	as long as short
gTrade (Gains Network) KAS/USD	L +0.0010% / S −0.0017%	1h	0.04363	+0.028%	$11K	—	150x	as long as short
GMX KAS/USD [WBTC.b-USDC]	L +0.0050% / S −0.0119%	1h	0.04361	−0.021%	$4K	—	100x	as long as short
Aster KASUSDT	+0.0100%	4h	0.04367	+0.112%	$256K	$199K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04367	+0.126%	$4.0M	$11.2M	75x	as long as short
Bybit KASUSDTshort	+0.0100%	4h	0.04362	+0.004%	$10.8M	$7.2M	50x
Gate KAS_USDT	+0.0100%	8h	0.04360	−0.042%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04365	+0.073%	$28.0M	$4.6M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04363	+0.024%	$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 KASUSDT	+0.0100%	4h	0.04364	+0.050%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04360	−0.042%	—	$69.3M	—	as long as short
Variational Omni KAS	+0.0100%	4h	0.04351	−0.253%	$26K	$20K	—	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04357	−0.111%	$386K	$202K	75x	as long as short
Hyperliquid KAS	+0.0387%	1h	0.04378	+0.378%	$2.9M	$928K	3x	as long as short