Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0517%/8h= −56.6% APRpaid last 24h −0.053%

Price spread now: BloFin against Hyperliquid−0.237%47s7-day average −0.091% · you buy dearer than you sell

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$550.549% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.131%−$13 on $10k

Price spread, last 3 days (all we have)+0.227%+$23 · spread now −0.237%, 7d avg −0.091%

Together, before fees+0.096%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and BloFin is 0.146% cheaper against Hyperliquid than usual: you would sell low and buy high (−$15 if the spread goes back to its 7-day average of −0.091%). Swap the legs. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.131% in total (about -6.8% 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	0.3466	0.0628	pay 0.0079% / 1h	34m 30s	$2.0M	$741K	5x
Short	BloFin KAITO-USDT	0.3458	0.0112	get 0.0056% / 4h	2h 34m	$538K	$60K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.237%Rate

Funding earned: −$108.53
Price spread: −0.237% → −0.091%: −$14.55
Slippage, 4 orders: −$33.89
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$177.97
Costs to cover: 0.549%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; BloFin: live order book, 51 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	1.59 bp	9.0 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 51 min ago	1.45 bp	16.0 bp −$16	19.7 bp −$197	133.3 bp −$13.3K	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	−0.0256%	1h	0.3456	−0.298%	$236K	$160K	10x	as long as short
Injective KAITO/USDC PERP	−0.0057%	1h	0.3442	−0.698%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.768%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3459	−0.209%	$116K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3461	−0.150%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3460	−0.179%	$10.4M	$15.6M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3462	−0.121%	$4.3M	$6.6M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3459	−0.208%	$4.1M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3461	−0.150%	$671K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3459	−0.208%	$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	0.3461	−0.150%	$1.4M	$183K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3464	−0.063%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3459	−0.208%	—	$6.5M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3458	−0.251%	$18K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3458	−0.226%	$43K	$237K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3455	−0.317%	$242K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3456	−0.294%	$29K	$256K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3462	−0.130%	$12K	$4.0M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3458	−0.242%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0103%	8h	0.3461	−0.144%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0104%	4h	0.3448	−0.534%	$17K	$320K	5x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3462	−0.133%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3458	−0.228%	$240K	$1K	3x	as long as short
BloFin KAITO-USDTshort	+0.0112%	4h	0.3458	−0.237%	$538K	$60K	75x
01 Exchange KAITOUSD	+0.0264%	1h	0.3460	−0.167%	$6K	$2K	3x	as long as short
Hyperliquid KAITOlong	+0.0628%	1h	0.3466	long leg	$2.0M	$741K	5x
Lighter KAITO	+0.1000%	1h	0.3468	+0.061%	$82K	$82K	5x	as long as short