Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0611%/8h= −66.9% APRpaid last 24h −0.062%

Price spread now: MEXC against Hyperliquid−0.197%7-day average −0.080% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$43as in the Price arb table

costs, in and out, $10k−$310.312% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.129%−$13 on $10k

Price spread, last 7 days+0.136%+$14 · spread now −0.197%, 7d avg −0.080%

Together, before fees+0.008%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and MEXC is 0.117% cheaper against Hyperliquid than usual: you would sell low and buy high (−$12 if the spread goes back to its 7-day average of −0.080%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.129% in total (about -6.7% 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	0.3499	0.0711	pay 0.0089% / 1h	54m 52s	$2.0M	$743K	5x
Short	MEXC KAITO_USDT	0.3492	0.0100	get 0.0050% / 4h	54m 52s	$3.3M	$1.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.197%Rate

Funding earned: −$128.35
Price spread: −0.197% → −0.080%: −$11.7
Slippage, 4 orders: −$22.22
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 0 bp × 2 orders: $0
Net: −$171.26
Costs to cover: 0.312%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 6 min ago; MEXC: live order book, 7 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	1.29 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 7 min ago	1.43 bp	3.6 bp −$4	8.4 bp −$84	66.6 bp −$6,657	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	−0.0010%	1h	0.3485	−0.397%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.679%	—	—	—	as long as short
BloFin KAITO-USDT	+0.0078%	4h	0.3488	−0.312%	$546K	$61K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3493	−0.161%	$117K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3494	−0.140%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3493	−0.167%	$10.6M	$15.7M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3494	−0.140%	$4.4M	$6.7M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3489	−0.283%	$4.2M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3496	−0.083%	$692K	$1.7M	75x	as long as short
MEXC KAITO_USDTshort	+0.0100%	4h	0.3492	−0.197%	$3.3M	$1.0M	50x

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin KAITOUSDTM	+0.0100%	4h	0.3496	−0.083%	$1.4M	$166K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3497	−0.054%	$4.3M	$3.0M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3493	−0.169%	—	$6.5M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3492	−0.196%	$44K	$231K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3493	−0.179%	$236K	$3.0M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3491	−0.226%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3495	−0.103%	$15K	$4.1M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3493	−0.183%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0101%	8h	0.3493	−0.166%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3494	−0.145%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3492	−0.190%	$242K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0112%	4h	0.3492	−0.197%	$17K	$320K	5x	as long as short
Backpack KAITO_USDC_PERP	+0.0151%	1h	0.3492	−0.209%	$19K	$166K	10x	as long as short
Hyperliquid KAITOlong	+0.0711%	1h	0.3499	long leg	$2.0M	$743K	5x
Kraken Futures PF_KAITOUSD	+0.1003%	1h	0.3486	−0.356%	$240K	$155K	10x	as long as short
Lighter KAITO	+0.1360%	1h	0.3503	+0.106%	$84K	$82K	5x	as long as short
01 Exchange KAITOUSD	+0.8536%	1h	0.3580	+2.312%	$6K	$2K	3x	as long as short