Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC+0.0804%/8h= +88.0% APRpaid last 24h +0.244%

Price spread now: Lighter against Bybit+0.425%7-day average +0.061% · you sell dearer than you buy

Net, funding: paid 7d − costs−$99as in the Funding arb table

Net, price: spread back to 7d avg − costs−$88as in the Price arb table

costs, in and out, $10k−$1251.245% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.251%+$25 on $10k

Price spread, last 4 days (all we have)−0.503%−$50 · spread now +0.425%, 7d avg +0.061%

Together, before fees−0.252%+ Points / potential airdropLighter: Season 3 · farm board−$25 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$24 a day on $10k at the current rate, and Lighter is 0.364% dearer against Bybit than usual: you sell high and buy low: +$36 more if the spread goes back to its 7-day average of +0.061%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.251% in total (about 13.1% 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	0.3506	0.0100	pay 0.0050% / 4h	3h 03m	$4.5M	$8.9M	75x
Short	Lighter KAITO	0.3521	0.0904	get 0.0113% / 1h	3m 29s	$87K	$102K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.425%Rate

Funding earned: $168.84
Price spread: +0.425% → +0.061%: $36.44
Slippage, 4 orders: −$113.51
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $80.78
Costs to cover: 1.245%
Break-even: 3.7 days

Slippage from Bybit: live order book, 5 min ago; Lighter: 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, 5 min ago	1.43 bp	25.7 bp −$26	82.6 bp −$826	doesn't fit	doesn't fit
Sell Lighter live order book, 2 min ago	30.08 bp	39.1 bp −$39	122.2 bp −$1,222	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	−0.0415%	1h	0.3505	−0.026%	$247K	$164K	10x	as long as short
Backpack KAITO_USDC_PERP	−0.0052%	1h	0.3505	−0.034%	$18K	$199K	10x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.870%	—	—	—	as long as short
Injective KAITO/USDC PERP	+0.0020%	1h	0.3535	+0.827%	$7K	$52K	12x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3509	+0.074%	$116K	$63K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3505	−0.023%	$19K	$15K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3505	−0.036%	$10.7M	$17.9M	75x	as long as short
Bybit KAITOUSDTlong	+0.0100%	4h	0.3506	long leg	$4.5M	$8.9M	75x
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3503	−0.086%	$4.3M	$11.6M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3506	0.000%	$654K	$1.8M	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	0.3504	−0.057%	$3.5M	$1.3M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3506	0.000%	$1.4M	$171K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3507	+0.029%	$4.5M	$3.7M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3506	0.000%	—	$6.5M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3510	+0.126%	$45K	$211K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3506	+0.002%	$244K	$2.3M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3506	0.000%	$29K	$258K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3503	−0.086%	$18K	$5.0M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3508	+0.046%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0103%	8h	0.3505	−0.026%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3504	−0.047%	$80K	$63K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3507	+0.019%	$243K	—	3x	as long as short
BloFin KAITO-USDT	+0.0106%	4h	0.3509	+0.086%	$552K	$68K	75x	as long as short
edgeX KAITOUSDC	+0.0108%	4h	0.3506	−0.007%	$17K	$328K	5x	as long as short
Hyperliquid KAITO	+0.0192%	1h	0.3509	+0.080%	$2.0M	$916K	5x	as long as short
Lighter KAITOshort	+0.0904%	1h	0.3521	+0.425%	$87K	$102K	5x
01 Exchange KAITOUSD	+0.4520%	1h	0.3580	+2.114%	$6K	$609	3x	as long as short