Funding arb · Price arb /

KAITO

all KAITO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0540%/8h= +59.1% APRpaid last 24h +0.055%

Price spread now: Hyperliquid against Bybit+0.076%7-day average +0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$76as in the Funding arb table

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

costs, in and out, $10k−$830.834% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.073%+$7 on $10k

Price spread, last 7 days−0.105%−$10 · spread now +0.076%, 7d avg +0.013%

Together, before fees−0.031%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$16 a day on $10k at the current rate, and Hyperliquid is 0.064% dearer against Bybit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.013%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.073% in total (about 3.8% 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	0.3451	0.0100	pay 0.0050% / 4h	2h 39m	$4.2M	$6.6M	75x
Short	Hyperliquid KAITO	0.3454	0.0640	get 0.0080% / 1h	39m 14s	$2.0M	$741K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.076%Rate

Funding earned: $113.36
Price spread: +0.076% → +0.013%: $6.36
Slippage, 4 orders: −$63.38
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $36.34
Costs to cover: 0.834%
Break-even: 4.8 days

Slippage from Bybit: live order book, 4 min ago; Hyperliquid: 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 Bybit live order book, 4 min ago	1.45 bp	28.8 bp −$29	77.1 bp −$771	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.59 bp	15.8 bp −$16	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	−0.0257%	1h	0.3444	−0.213%	$235K	$160K	10x	as long as short
Injective KAITO/USDC PERP	−0.0057%	1h	0.3442	−0.261%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.340%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3448	−0.081%	$115K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3451	+0.011%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3446	−0.133%	$10.4M	$15.6M	75x	as long as short
Bybit KAITOUSDTlong	+0.0100%	4h	0.3451	long leg	$4.2M	$6.6M	75x
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3445	−0.174%	$4.1M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3451	0.000%	$671K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3447	−0.116%	$3.2M	$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	0.3453	+0.058%	$1.4M	$183K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3452	+0.029%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3450	−0.029%	—	$6.5M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3453	+0.061%	$18K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3454	+0.073%	$43K	$237K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3449	−0.061%	$242K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3450	−0.029%	$29K	$255K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3448	−0.075%	$10K	$4.0M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3448	−0.081%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0104%	8h	0.3450	−0.033%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3448	−0.099%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3448	−0.100%	$239K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0107%	4h	0.3451	−0.012%	$17K	$320K	5x	as long as short
BloFin KAITO-USDT	+0.0113%	4h	0.3445	−0.174%	$536K	$60K	75x	as long as short
01 Exchange KAITOUSD	+0.0264%	1h	0.3447	−0.113%	$6K	$2K	3x	as long as short
Hyperliquid KAITOshort	+0.0640%	1h	0.3454	+0.076%	$2.0M	$741K	5x
Lighter KAITO	+0.1000%	1h	0.3457	+0.183%	$82K	$82K	5x	as long as short