Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0871%/8h= −95.4% APRpaid last 24h −0.081%

Price spread now: Variational Omni against Hyperliquid+0.069%7-day average −0.058% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.157%−$16 on $10k

Price spread, last 3 days (all we have)−0.060%−$6 · spread now +0.069%, 7d avg −0.058%

Together, before fees−0.217%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board−$22 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Variational Omni is 0.126% dearer against Hyperliquid than usual: you sell high and buy low (spread +0.069% now, against its 7-day average of −0.058%): +$13 on $10k if it goes back. Holding the pair costs −$26 a day in funding at the current rate, which eats that in about 12 hours. At the pace of the last 3 days (−0.157% in total) that is about 2.7 days.

The current funding rate is far above what this pair has been paying: over the last 3 days it paid -0.157% in total (about -17.0% 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	0.3450	0.0971	pay 0.0121% / 1h	55m 53s	$2.0M	$774K	5x
Short	Variational Omni KAITO	0.3452	0.0100	get 0.0050% / 4h	2h 55m	$43K	$230K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.069%Rate

Funding earned: −$182.88
Price spread: +0.069% → −0.058%: $12.64
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$179.24
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 5 min ago; Variational Omni: RFQ quote, 13 min ago. Net counts fees only.

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, 5 min ago	0.14 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 13 min ago	7.13 bp	doesn't fit	75.6 bp −$756	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
Backpack KAITO_USDC_PERP	−0.0306%	1h	0.3442	−0.226%	$18K	$168K	10x	as long as short
Injective KAITO/USDC PERP	−0.0064%	1h	0.3466	+0.475%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.299%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3444	−0.153%	$115K	$38K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3450	+0.012%	$18K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3446	−0.093%	$10.5M	$16.1M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3450	+0.012%	$4.3M	$6.9M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3444	−0.162%	$4.1M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3446	−0.104%	$676K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3446	−0.104%	$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	0.3450	+0.012%	$1.4M	$165K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3449	−0.017%	$4.2M	$3.1M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3446	−0.104%	—	$6.5M	—	as long as short
Variational Omni KAITOshort	+0.0100%	4h	0.3452	+0.069%	$43K	$230K	—
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3478	+0.830%	$238K	$2.8M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3470	+0.591%	$30K	$256K	50x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3443	−0.183%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3448	−0.033%	$77K	$54K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3444	−0.148%	$239K	—	3x	as long as short
Paradex KAITO-USD-PERP	+0.0111%	8h	0.3452	+0.061%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0112%	4h	0.3472	+0.652%	$17K	$322K	5x	as long as short
BloFin KAITO-USDT	+0.0119%	4h	0.3464	+0.417%	$553K	$60K	75x	as long as short
Polymarket Perps KAITO-USD	+0.0178%	1h	0.3452	+0.064%	$18K	$4.1M	5x	as long as short
Hyperliquid KAITOlong	+0.0971%	1h	0.3450	long leg	$2.0M	$774K	5x
Kraken Futures PF_KAITOUSD	+0.0987%	1h	0.3441	−0.253%	$239K	$157K	10x	as long as short
Lighter KAITO	+0.1216%	1h	0.3459	+0.287%	$88K	$90K	5x	as long as short
01 Exchange KAITOUSD	+0.1256%	1h	0.3494	+1.293%	$6K	$2K	3x	as long as short