KAITO

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.1043%/8h= −114.2% APRnext payment −$1.30 per $10,000 · paid last 24h −0.087%

Price spread now: Backpack against Hyperliquid+0.006%7-day average −0.109% · you sell dearer than you buy

Net, funding: paid 7d − costs−$21as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$450.446% of the position

Long on Hyperliquid Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 7 days+0.237%+$24 on $10k

Price spread, last 4 days (all we have)−0.061%−$6 · spread now +0.006%, 7d avg −0.109%

Together, before fees+0.176%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Backpack is 0.115% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.006% now, against its 7-day average of −0.109%): +$12 on $10k if it goes back. Holding the pair costs −$31 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.237%, 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 0.237% in total (about 12.3% a year). A funding rate is set anew for every payment; at this rate the next one is about −$1.30 per $10,000. 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	0.3458	0.1025	pay 0.0128% / 1h	56m 44s	$2.0M	$772K	5x
Short	Backpack KAITO_USDC_PERP	0.3459	−0.0017	pay 0.0002% / 1h	56m 44s	$20K	$165K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack 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 BackpackbpOrdersPrice spread, now +0.006%Rate

Funding earned: −$218.96
Price spread: +0.006% → −0.109%: $11.53
Slippage, 4 orders: −$25.59
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$252.03
Costs to cover: 0.446%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; Backpack: live order book, 11 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, 4 min ago	0.14 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 11 min ago	1.43 bp	11.0 bp −$11	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	−0.0064%	1h	0.3466	+0.217%	$7K	$52K	12x	as long as short
Backpack KAITO_USDC_PERPshort	−0.0017%	1h	0.3459	+0.006%	$20K	$165K	10x
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.551%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3460	+0.031%	$116K	$38K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3469	+0.298%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3452	−0.192%	$10.5M	$16.0M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3456	−0.072%	$4.4M	$6.9M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3450	−0.246%	$4.1M	$9.9M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3457	−0.043%	$679K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3452	−0.188%	$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	0.3456	−0.072%	$1.4M	$165K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3457	−0.043%	$4.2M	$3.1M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3454	−0.130%	—	$6.7M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3469	+0.301%	$43K	$230K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3478	+0.570%	$238K	$2.8M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3470	+0.333%	$30K	$256K	50x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3465	+0.194%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3457	−0.053%	$77K	$54K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3463	+0.145%	$240K	—	3x	as long as short
Paradex KAITO-USD-PERP	+0.0111%	8h	0.3468	+0.279%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0112%	4h	0.3472	+0.393%	$17K	$322K	5x	as long as short
BloFin KAITO-USDT	+0.0119%	4h	0.3464	+0.159%	$553K	$60K	75x	as long as short
Polymarket Perps KAITO-USD	+0.0281%	1h	0.3470	+0.333%	$18K	$4.1M	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0981%	1h	0.3463	+0.134%	$240K	$157K	10x	as long as short
Lighter KAITO	+0.1000%	1h	0.3469	+0.292%	$89K	$90K	5x	as long as short
Hyperliquid KAITOlong	+0.1025%	1h	0.3458	long leg	$2.0M	$772K	5x
01 Exchange KAITOUSD	+0.1104%	1h	0.3469	+0.295%	$6K	$2K	3x	as long as short