Funding arb · Price arb /

KAS

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0011%/8h= −1.2% APRpaid last 24h +0.168%

Price spread now: Kraken Futures against Variational Omni+0.110%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

The price spread pays, funding is against you. Kraken Futures is 0.110% dearer against Variational Omni than usual: you sell high and buy low (spread +0.110% now, against zero (this spread has no 7-day history yet)): +$11 on $10k if it goes back. Holding the pair costs $0 a day in funding at the current rate, which eats that in about 35 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni KAS	0.04370	0.0100	pay 0.0050% / 4h	1h 12m	$26K	$21K	—
Short	Kraken Futures PF_KASUSD	0.04375	0.0089	get 0.0011% / 1h	12m 32s	$297K	$449K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Variational Omni. 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 Variational OmnibpFee Kraken FuturesbpOrdersPrice spread, now +0.110%Rate

Funding earned: −$2.21
Price spread: +0.110% → 0.000%: $11.01
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$1.2
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Kraken Futures: 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Kraken Futures live order book, 5 min ago	5.73 bp	42.5 bp −$43	158.5 bp −$1,585	doesn't fit	doesn't fit

Variational Omni: 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 −0.0017%	1h	0.04370	−0.008%	$11K	—	150x	as long as short
Kraken Futures PF_KASUSDshort	+0.0089%	1h	0.04375	+0.110%	$297K	$449K	20x
Aster KASUSDT	+0.0100%	4h	0.04372	+0.032%	$256K	$201K	20x	as long as short
Binance KASUSDT	+0.0100%	4h	0.04378	+0.172%	$4.0M	$11.2M	75x	as long as short
Bybit KASUSDT	+0.0100%	4h	0.04372	+0.035%	$10.8M	$7.1M	50x	as long as short
Gate KAS_USDT	+0.0100%	8h	0.04370	−0.010%	$2.2M	$1.6M	75x	as long as short
MEXC KAS_USDT	+0.0100%	4h	0.04375	+0.104%	$28.0M	$4.5M	200x	as long as short
KuCoin KASUSDTM	+0.0100%	4h	0.04375	+0.109%	$4.2M	$6.8M	50x	as long as short
Bitget KASUSDT	+0.0100%	4h	0.04371	+0.012%	$12.0M	$3.0M	50x	as long as short
BingX KAS-USDT	+0.0100%	4h	0.04373	+0.058%	—	$69.5M	—	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni KASlong	+0.0100%	4h	0.04370	long leg	$26K	$21K	—
GMX KAS/USD [WBTC.b-USDC]	L +0.0180% / S −0.2325%	1h	0.04369	−0.029%	$11K	—	100x	as long as short
Injective KAS/USDC PERP	+0.0329%	1h	0.04361	−0.216%	$45	$154K	5.5x	as long as short
BloFin KAS-USDT	+0.0340%	4h	0.04373	+0.058%	$379K	$220K	75x	as long as short
Hyperliquid KAS	+0.0655%	1h	0.04387	+0.385%	$2.9M	$994K	3x	as long as short