Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0574%/8h= +62.9% APRpaid last 24h +0.055%

Price spread now: Hyperliquid against OKX+0.238%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$30as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$490.493% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.193%+$19 on $10k

Price spread, last 7 days−0.183%−$18 · spread now +0.238%, 7d avg +0.072%

Together, before fees+0.010%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$17 a day on $10k at the current rate, and Hyperliquid is 0.166% dearer against OKX than usual: you sell high and buy low: +$17 more if the spread goes back to its 7-day average of +0.072%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.193% in total (about 10.0% 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	OKX KAITO-USDT-SWAP	0.3440	0.0100	pay 0.0050% / 4h	2h 44m	$4.1M	$10.0M	50x
Short	Hyperliquid KAITO	0.3448	0.0674	get 0.0084% / 1h	44m 26s	$2.0M	$740K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.238%Rate

Funding earned: $120.6
Price spread: +0.238% → +0.072%: $16.62
Slippage, 4 orders: −$30.33
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $87.89
Costs to cover: 0.493%
Break-even: 1.9 days

Slippage from OKX: live order book, 4 min ago; Hyperliquid: live order book, 6 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 OKX live order book, 4 min ago	1.46 bp	14.3 bp −$14	43.7 bp −$437	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 6 min ago	2.32 bp	15.3 bp −$15	doesn't fit	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	−0.0257%	1h	0.3440	+0.010%	$235K	$160K	10x	as long as short
Injective KAITO/USDC PERP	−0.0057%	1h	0.3442	+0.058%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.028%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3444	+0.105%	$115K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3441	+0.039%	$17K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3441	+0.034%	$10.4M	$15.6M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3444	+0.116%	$4.2M	$6.6M	75x	as long as short
OKX KAITO-USDT-SWAPlong	+0.0100%	4h	0.3440	long leg	$4.1M	$10.0M	50x
Gate KAITO_USDT	+0.0100%	4h	0.3444	+0.116%	$670K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3440	0.000%	$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	0.3442	+0.058%	$1.4M	$183K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3445	+0.145%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3443	+0.087%	—	$6.5M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3441	+0.032%	$18K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3445	+0.146%	$43K	$237K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3441	+0.029%	$229K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3439	−0.029%	$29K	$256K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3443	+0.081%	$26K	$3.9M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3443	+0.090%	$3K	$2K	10x	as long as short
BloFin KAITO-USDT	+0.0103%	4h	0.3441	+0.029%	$540K	$60K	75x	as long as short
Paradex KAITO-USD-PERP	+0.0104%	8h	0.3440	+0.007%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3442	+0.062%	$61K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3443	+0.073%	$239K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0116%	4h	0.3442	+0.047%	$17K	$322K	5x	as long as short
01 Exchange KAITOUSD	+0.0264%	1h	0.3442	+0.055%	$6K	$2K	3x	as long as short
Hyperliquid KAITOshort	+0.0674%	1h	0.3448	+0.238%	$2.0M	$740K	5x
Lighter KAITO	+0.0984%	1h	0.3450	+0.282%	$82K	$82K	5x	as long as short