Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0543%/8h= −59.5% APRpaid last 24h −0.006%

Price spread now: Backpack against Bybit−0.174%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$660.661% of the position

Long on Bybit Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.337%+$34 on $10k

Price spread, last 4 days (all we have)+0.050%+$5 · spread now −0.174%, 7d avg −0.067%

Together, before fees+0.387%+$39 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Backpack is 0.107% cheaper against Bybit than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.067%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.337%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.337% in total (about 17.6% a year). A funding rate is set anew for every payment. 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	Bybit KAITOUSDT	0.3500	0.0100	pay 0.0050% / 4h	2h 30m	$4.4M	$7.1M	75x
Short	Backpack KAITO_USDC_PERP	0.3494	−0.0443	pay 0.0055% / 1h	30m 53s	$19K	$176K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Bybit. 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 BybitbpFee BackpackbpOrdersPrice spread, now −0.174%Rate

Funding earned: −$114.09
Price spread: −0.174% → −0.067%: −$10.74
Slippage, 4 orders: −$45.09
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$190.92
Costs to cover: 0.661%
Break-even: never at this rate

Slippage from Bybit: live order book, 2 min ago; Backpack: live order book, 37 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 Bybit live order book, 2 min ago	1.43 bp	21.1 bp −$21	71.3 bp −$713	doesn't fit	doesn't fit
Sell Backpack live order book, 37 min ago	1.43 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit

KAITO on 26 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
Backpack KAITO_USDC_PERPshort	−0.0443%	1h	0.3494	−0.174%	$19K	$176K	10x
Injective KAITO/USDC PERP	−0.0064%	1h	0.3474	−0.743%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.704%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3496	−0.126%	$116K	$38K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3497	−0.086%	$18K	$15K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3497	−0.086%	$10.6M	$16.3M	75x	as long as short
Bybit KAITOUSDTlong	+0.0100%	4h	0.3500	long leg	$4.4M	$7.1M	75x
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3495	−0.143%	$4.2M	$10.3M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3500	0.000%	$684K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3495	−0.143%	$3.3M	$1.0M	50x	as long as short

Show all 26 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin KAITOUSDTM	+0.0100%	4h	0.3499	−0.029%	$1.4M	$164K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3502	+0.057%	$4.4M	$3.2M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3499	−0.029%	—	$6.5M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3499	−0.030%	$44K	$230K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3486	−0.400%	$238K	$2.8M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3480	−0.571%	$30K	$256K	50x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3497	−0.097%	$3K	$2K	10x	as long as short
edgeX KAITOUSDC	+0.0103%	4h	0.3481	−0.544%	$17K	$324K	5x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3498	−0.054%	$78K	$54K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3496	−0.129%	$243K	—	3x	as long as short
Paradex KAITO-USD-PERP	+0.0121%	8h	0.3494	−0.178%	$4K	$604	10x	as long as short
Polymarket Perps KAITO-USD	+0.0144%	1h	0.3497	−0.100%	$15K	$4.1M	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0971%	1h	0.3498	−0.066%	$243K	$148K	10x	as long as short
Hyperliquid KAITO	+0.0991%	1h	0.3501	+0.020%	$2.0M	$785K	5x	as long as short
Lighter KAITO	+0.1432%	1h	0.3505	+0.157%	$86K	$93K	5x	as long as short
01 Exchange KAITOUSD	+0.6576%	1h	0.3580	+2.289%	$6K	$2K	3x	as long as short