Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0740%/8h= −81.0% APRpaid last 24h −0.055%

Price spread now: BingX against Hyperliquid−0.162%7-day average −0.053% · you buy dearer than you sell

Net, funding: paid 7d − costs−$58as in the Funding arb table

Net, price: spread back to 7d avg − costs−$63as in the Price arb table

costs, in and out, $10k−$520.522% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.061%−$6 on $10k

Price spread, last 7 days+0.129%+$13 · spread now −0.162%, 7d avg −0.053%

Together, before fees+0.068%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$22 a day on $10k at the current rate, and BingX is 0.108% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.053%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.061% in total (about -3.2% 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	0.3465	0.0840	pay 0.0105% / 1h	54m 44s	$2.0M	$744K	5x
Short	BingX KAITO-USDT	0.3459	0.0100	get 0.0050% / 4h	1h 54m	—	$6.7M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.162%Rate

Funding earned: −$155.34
Price spread: −0.162% → −0.053%: −$10.82
Slippage, 4 orders: −$33.18
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$218.34
Costs to cover: 0.522%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; BingX: live order book, 13 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, 6 min ago	2.17 bp	8.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 13 min ago	4.36 bp	13.8 bp −$14	24.7 bp −$247	155.3 bp −$15.5K	582.5 bp −$291.2K

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	−0.0433%	1h	0.3462	−0.083%	$237K	$159K	10x	as long as short
Injective KAITO/USDC PERP	−0.0055%	1h	0.3446	−0.537%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.721%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3459	−0.162%	$116K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3461	−0.115%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3458	−0.190%	$10.4M	$15.6M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3459	−0.162%	$4.3M	$6.6M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3457	−0.219%	$4.1M	$9.9M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3459	−0.162%	$672K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3457	−0.219%	$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	0.3454	−0.306%	$1.4M	$167K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3463	−0.046%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDTshort	+0.0100%	4h	0.3459	−0.162%	—	$6.7M	—
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3460	−0.130%	$18K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3453	−0.343%	$43K	$236K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3443	−0.625%	$230K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3444	−0.595%	$29K	$256K	50x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3457	−0.216%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0101%	8h	0.3460	−0.141%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0103%	4h	0.3442	−0.653%	$17K	$319K	5x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3459	−0.171%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3458	−0.179%	$240K	$1K	3x	as long as short
Polymarket Perps KAITO-USD	+0.0121%	1h	0.3461	−0.110%	$11K	$4.0M	5x	as long as short
BloFin KAITO-USDT	+0.0158%	4h	0.3460	−0.133%	$537K	$59K	75x	as long as short
01 Exchange KAITOUSD	+0.0248%	1h	0.3459	−0.153%	$6K	$2K	3x	as long as short
Hyperliquid KAITOlong	+0.0840%	1h	0.3465	long leg	$2.0M	$744K	5x
Lighter KAITO	+0.1112%	1h	0.3468	+0.089%	$83K	$82K	5x	as long as short