KAITO

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0650%/8h= +71.1% APRnext payment +$0.81 per $10,000 · paid last 24h +0.068%

Price spread now: Hyperliquid against Backpack+0.207%7-day average +0.107% · you sell dearer than you buy

Net, funding: paid 7d − costs−$73as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$480.475% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.256%−$26 on $10k

Price spread, last 4 days (all we have)−0.291%−$29 · spread now +0.207%, 7d avg +0.107%

Together, before fees−0.547%+ Points / potential airdropHyperliquid: Season 2 · farm board−$55 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$19 a day on $10k at the current rate, and Hyperliquid is 0.100% dearer against Backpack than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.107%. Mind the row above: over the last 7 days funding on this pair cost −0.256%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.256% in total (about -13.4% a year). A funding rate is set anew for every payment; at this rate the next one is about +$0.81 per $10,000. 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	Backpack KAITO_USDC_PERP	0.3487	0.0100	pay 0.0013% / 1h	1m 40s	$19K	$168K	10x
Short	Hyperliquid KAITO	0.3495	0.0750	get 0.0094% / 1h	1m 40s	$2.0M	$742K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Backpack. 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 BackpackbpFee HyperliquidbpOrdersPrice spread, now +0.207%Rate

Funding earned: $136.45
Price spread: +0.207% → +0.107%: $9.97
Slippage, 4 orders: −$28.53
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $98.89
Costs to cover: 0.475%
Break-even: 1.9 days

Slippage from Backpack: live order book, 16 min ago; Hyperliquid: live order book, 9 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 Backpack live order book, 16 min ago	0.72 bp	9.2 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 9 min ago	1.43 bp	16.7 bp −$17	doesn't fit	doesn't fit	doesn't fit

KAITO on 27 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_KAITOUSD	−0.0429%	1h	0.3490	+0.077%	$240K	$157K	10x	as long as short
Injective KAITO/USDC PERP	−0.0055%	1h	0.3461	−0.754%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.358%	—	—	—	as long as short
BloFin KAITO-USDT	+0.0072%	4h	0.3487	−0.009%	$545K	$61K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3489	+0.037%	$117K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3489	+0.057%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3488	+0.020%	$10.5M	$15.7M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3491	+0.106%	$4.4M	$6.7M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3485	−0.066%	$4.2M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3489	+0.049%	$689K	$1.7M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC KAITO_USDT	+0.0100%	4h	0.3488	+0.020%	$3.3M	$1.1M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3490	+0.077%	$1.4M	$166K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3494	+0.192%	$4.3M	$3.0M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3488	+0.020%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERPlong	+0.0100%	1h	0.3487	long leg	$19K	$168K	10x
Variational Omni KAITO	+0.0100%	4h	0.3487	−0.008%	$44K	$233K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3482	−0.152%	$235K	$3.0M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3482	−0.152%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3490	+0.083%	$11K	$4.1M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3488	+0.023%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0101%	8h	0.3489	+0.046%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3489	+0.058%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3488	+0.029%	$242K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0116%	4h	0.3482	−0.155%	$17K	$322K	5x	as long as short
Hyperliquid KAITOshort	+0.0750%	1h	0.3495	+0.207%	$2.0M	$742K	5x
Lighter KAITO	+0.1216%	1h	0.3498	+0.313%	$84K	$82K	5x	as long as short
01 Exchange KAITOUSD	+0.2952%	1h	0.3577	+2.581%	$6K	$2K	3x	as long as short