Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.006%

Price spread now: Backpack against Bitget−0.164%49s7-day average +0.014% · you buy dearer than you sell

Net, funding: paid 7d − costs−$17as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$500.497% of the position

Long on Bitget Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.324%+$32 on $10k

Price spread, last 4 days (all we have)+0.167%+$17 · spread now −0.164%, 7d avg +0.014%

Together, before fees+0.491%+$49 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Backpack is 0.178% cheaper against Bitget than usual: you would sell low and buy high, −$18 on $10k if it goes back to its 7-day average of +0.014%. The two prices were read 49 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	Bitget KAITOUSDT	0.3479	0.0100	pay 0.0050% / 4h	11m 16s	$4.3M	$3.0M	75x
Short	Backpack KAITO_USDC_PERP	0.3473	0.0100	get 0.0013% / 1h	11m 16s	$18K	$164K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bitget. 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 BitgetbpFee BackpackbpOrdersPrice spread, now −0.164%Rate

Funding earned: $0
Price spread: −0.164% → +0.014%: −$17.75
Slippage, 4 orders: −$27.69
Fee Bitget: 6 bp × 2 orders: −$12
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$67.44
Costs to cover: 0.497%
Break-even: never at this rate

Slippage from Bitget: live order book, 2 min ago; Backpack: live order book, 2 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 Bitget live order book, 2 min ago	1.44 bp	12.5 bp −$13	39.9 bp −$399	doesn't fit	doesn't fit
Sell Backpack live order book, 2 min ago	0.43 bp	13.6 bp −$14	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
Injective KAITO/USDC PERP	−0.0010%	1h	0.3476	−0.086%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.129%	—	—	—	as long as short
BloFin KAITO-USDT	+0.0067%	4h	0.3478	−0.029%	$541K	$62K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3475	−0.111%	$116K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3477	−0.068%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3474	−0.132%	$10.5M	$15.8M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3477	−0.057%	$4.4M	$6.8M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3473	−0.172%	$4.2M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3476	−0.086%	$684K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3474	−0.144%	$3.3M	$1.0M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin KAITOUSDTM	+0.0100%	4h	0.3477	−0.057%	$1.4M	$166K	30x	as long as short
Bitget KAITOUSDTlong	+0.0100%	4h	0.3479	long leg	$4.3M	$3.0M	75x
BingX KAITO-USDC	+0.0100%	4h	0.3475	−0.115%	—	$6.5M	—	as long as short
Backpack KAITO_USDC_PERPshort	+0.0100%	1h	0.3473	−0.164%	$18K	$164K	10x
Variational Omni KAITO	+0.0100%	4h	0.3476	−0.086%	$44K	$230K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3476	−0.084%	$235K	$3.0M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3474	−0.144%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3477	−0.046%	$11K	$4.2M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3474	−0.129%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0102%	8h	0.3475	−0.123%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3474	−0.134%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3475	−0.129%	$241K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0113%	4h	0.3474	−0.130%	$17K	$321K	5x	as long as short
Hyperliquid KAITO	+0.0958%	1h	0.3482	+0.075%	$2.0M	$767K	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.1006%	1h	0.3474	−0.145%	$239K	$157K	10x	as long as short
Lighter KAITO	+0.1464%	1h	0.3492	+0.362%	$83K	$83K	5x	as long as short
01 Exchange KAITOUSD	+0.8928%	1h	0.3570	+2.613%	$6K	$2K	3x	as long as short