Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0650%/8h= −71.1% APRpaid last 24h −0.062%

Price spread now: Aster against Hyperliquid−0.146%7-day average −0.093% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$520.524% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)−0.116%−$12 on $10k

Price spread, last 4 days (all we have)+0.160%+$16 · spread now −0.146%, 7d avg −0.093%

Together, before fees+0.044%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Aster is 0.053% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.093%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 5 days it paid -0.116% in total (about -8.0% 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	Hyperliquid KAITO	0.3493	0.0750	pay 0.0094% / 1h	1m 20s	$2.0M	$742K	5x
Short	Aster KAITOUSDT	0.3488	0.0100	get 0.0050% / 4h	1h 01m	$117K	$34K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.146%Rate

Funding earned: −$136.43
Price spread: −0.146% → −0.093%: −$5.25
Slippage, 4 orders: −$35.4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$194.09
Costs to cover: 0.524%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Aster: live order book, 14 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 Hyperliquid live order book, 10 min ago	1.43 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, 14 min ago	2.87 bp	12.4 bp −$12	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	−0.092%	$240K	$157K	10x	as long as short
Injective KAITO/USDC PERP	−0.0055%	1h	0.3485	−0.235%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.521%	—	—	—	as long as short
BloFin KAITO-USDT	+0.0072%	4h	0.3487	−0.177%	$545K	$61K	75x	as long as short
Aster KAITOUSDTshort	+0.0100%	4h	0.3488	−0.146%	$117K	$34K	10x
Pacifica KAITO	+0.0100%	1h	0.3489	−0.112%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3487	−0.177%	$10.5M	$15.7M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3490	−0.092%	$4.4M	$6.7M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3484	−0.263%	$4.2M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3489	−0.120%	$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	0.3487	−0.177%	$3.3M	$1.1M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3490	−0.092%	$1.4M	$166K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3492	−0.034%	$4.3M	$3.0M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3487	−0.177%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3487	−0.169%	$19K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3487	−0.177%	$44K	$233K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3482	−0.321%	$235K	$3.0M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3484	−0.263%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3490	−0.100%	$11K	$4.1M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3487	−0.183%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0101%	8h	0.3489	−0.123%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3489	−0.111%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3487	−0.177%	$242K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0108%	4h	0.3484	−0.274%	$17K	$322K	5x	as long as short
Hyperliquid KAITOlong	+0.0750%	1h	0.3493	long leg	$2.0M	$742K	5x
Lighter KAITO	+0.1216%	1h	0.3498	+0.143%	$84K	$82K	5x	as long as short
01 Exchange KAITOUSD	+0.3048%	1h	0.3577	+2.405%	$6K	$2K	3x	as long as short