Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0682%/8h= −74.7% APRpaid last 24h −0.082%

Price spread now: GRVT against Hyperliquid−0.334%7-day average −0.082% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs−$84as in the Price arb table

costs, in and out, $10k−$580.583% of the position

Long on Hyperliquid Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days−0.102%−$10 on $10k

Price spread, last 7 days+0.262%+$26 · spread now −0.334%, 7d avg −0.082%

Together, before fees+0.161%+ Points / potential airdropHyperliquid: Season 2 · GRVT: Active · farm board+$16 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$20 a day on $10k at the current rate, and GRVT is 0.252% cheaper against Hyperliquid than usual: you would sell low and buy high (−$25 if the spread goes back to its 7-day average of −0.082%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.102% in total (about -5.3% 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	0.3473	0.0782	pay 0.0098% / 1h	23m 24s	$2.0M	$739K	5x
Short	GRVT KAITO_USDT_Perp	0.3461	0.0100	get 0.0050% / 4h	1h 23m	$241K	$3.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.334%Rate

Funding earned: −$143.21
Price spread: −0.334% → −0.082%: −$25.25
Slippage, 4 orders: −$40.35
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$226.8
Costs to cover: 0.583%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; GRVT: live order book, 5 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, 7 min ago	0.87 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 5 min ago	7.22 bp	17.1 bp −$17	144.0 bp −$1,440	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	−0.0432%	1h	0.3469	−0.088%	$238K	$158K	10x	as long as short
Injective KAITO/USDC PERP	−0.0055%	1h	0.3461	−0.331%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.946%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3467	−0.155%	$116K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3467	−0.168%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3466	−0.187%	$10.5M	$15.6M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3466	−0.187%	$4.3M	$6.7M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3464	−0.245%	$4.1M	$9.9M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3467	−0.158%	$677K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3466	−0.187%	$3.3M	$1.1M	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	0.3469	−0.101%	$1.4M	$167K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3472	−0.014%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3467	−0.158%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3466	−0.199%	$18K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3461	−0.329%	$43K	$234K	—	as long as short
GRVT KAITO_USDT_Perpshort	+0.0100%	4h	0.3461	−0.334%	$241K	$3.1M	10x
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3458	−0.418%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3469	−0.104%	$11K	$4.1M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3466	−0.176%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0101%	8h	0.3465	−0.217%	$4K	$604	10x	as long as short
BloFin KAITO-USDT	+0.0102%	4h	0.3469	−0.101%	$540K	$61K	75x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3467	−0.149%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3467	−0.173%	$241K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0118%	4h	0.3459	−0.382%	$17K	$321K	5x	as long as short
01 Exchange KAITOUSD	+0.0280%	1h	0.3467	−0.153%	$6K	$2K	3x	as long as short
Hyperliquid KAITOlong	+0.0782%	1h	0.3473	long leg	$2.0M	$739K	5x
Lighter KAITO	+0.1224%	1h	0.3478	+0.173%	$83K	$82K	5x	as long as short