Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0870%/8h= −95.3% APRpaid last 24h −0.081%

Price spread now: Bitget against Hyperliquid−0.038%7-day average −0.087% · you buy dearer than you sell

Net, funding: paid 7d − costs−$63as in the Funding arb table

Net, price: spread back to 7d avg − costs−$49as in the Price arb table

costs, in and out, $10k−$540.540% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days−0.087%−$9 on $10k

Price spread, last 7 days−0.009%−$1 · spread now −0.038%, 7d avg −0.087%

Together, before fees−0.097%+ Points / potential airdropHyperliquid: Season 2 · farm board−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Bitget is 0.049% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.038% now, against its 7-day average of −0.087%): +$5 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 5 hours. At the pace of the last 7 days (−0.087% in total) that is about 3.9 days.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.087% in total (about -4.6% 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	0.3488	0.0970	pay 0.0121% / 1h	44m 31s	$2.0M	$767K	5x
Short	Bitget KAITOUSDT	0.3487	0.0100	get 0.0050% / 4h	3h 44m	$4.3M	$3.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.038%Rate

Funding earned: −$182.77
Price spread: −0.038% → −0.087%: $4.93
Slippage, 4 orders: −$32.99
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$231.83
Costs to cover: 0.540%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; Bitget: live order book, 3 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	0.29 bp	10.3 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 3 min ago	2.87 bp	15.2 bp −$15	47.0 bp −$470	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	−0.0015%	1h	0.3476	−0.353%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.387%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3482	−0.190%	$116K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3486	−0.081%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3482	−0.181%	$10.6M	$15.8M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3485	−0.095%	$4.4M	$6.8M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3481	−0.210%	$4.2M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3486	−0.067%	$696K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3482	−0.181%	$3.4M	$1.0M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3484	−0.124%	$1.4M	$166K	30x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget KAITOUSDTshort	+0.0100%	4h	0.3487	−0.038%	$4.3M	$3.0M	75x
BingX KAITO-USDT	+0.0100%	4h	0.3484	−0.124%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3482	−0.193%	$18K	$163K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3486	−0.068%	$44K	$230K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3481	−0.218%	$235K	$2.9M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3482	−0.181%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3484	−0.118%	$12K	$4.1M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3481	−0.199%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0101%	8h	0.3483	−0.166%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3484	−0.138%	$78K	$57K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3482	−0.181%	$242K	—	3x	as long as short
BloFin KAITO-USDT	+0.0109%	4h	0.3480	−0.239%	$546K	$61K	75x	as long as short
edgeX KAITOUSDC	+0.0115%	4h	0.3480	−0.226%	$17K	$323K	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0853%	1h	0.3485	−0.105%	$241K	$158K	10x	as long as short
Hyperliquid KAITOlong	+0.0970%	1h	0.3488	long leg	$2.0M	$767K	5x
Lighter KAITO	+0.1784%	1h	0.3498	+0.269%	$89K	$89K	5x	as long as short
01 Exchange KAITOUSD	+0.8728%	1h	0.3482	−0.176%	$6K	$2K	3x	as long as short