Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0072%/8h= −7.9% APRpaid last 24h −0.006%

Price spread now: Backpack against Orderly+0.023%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. Backpack is 0.023% dearer against Orderly than usual: you sell high and buy low (spread +0.023% now, against zero (this spread has no 7-day history yet)): +$2 on $10k if it goes back. Holding the pair costs −$2 a day in funding at the current rate, which eats that in about 26 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_KAITO_USDC_mythos	0.3438	0.0100	pay 0.0050% / 4h	2h 47m	$3K	$2K	10x
Short	Backpack KAITO_USDC_PERP	0.3439	0.0028	get 0.0003% / 1h	47m 41s	$18K	$169K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Orderly. 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 OrderlybpFee BackpackbpOrdersPrice spread, now +0.023%Rate

Funding earned: −$15.18
Price spread: +0.023% → 0.000%: $2.33
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$28.85
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Backpack: live order book, 40 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 Orderly no order-book sample	—	—	—	—	—
Sell Backpack live order book, 40 min ago	0.14 bp	11.0 bp −$11	doesn't fit	doesn't fit	doesn't fit

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	+0.047%	$235K	$160K	10x	as long as short
Injective KAITO/USDC PERP	−0.0057%	1h	0.3442	+0.113%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−1.970%	—	—	—	as long as short
Backpack KAITO_USDC_PERPshort	+0.0028%	1h	0.3439	+0.023%	$18K	$169K	10x
BloFin KAITO-USDT	+0.0063%	4h	0.3436	−0.061%	$538K	$60K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3439	+0.018%	$115K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3438	−0.003%	$17K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3441	+0.070%	$10.4M	$15.6M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3442	+0.113%	$4.2M	$6.6M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3436	−0.061%	$4.1M	$9.9M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate KAITO_USDT	+0.0100%	4h	0.3439	+0.026%	$666K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3440	+0.055%	$3.2M	$1.0M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3437	−0.032%	$1.4M	$183K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3440	+0.055%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3440	+0.055%	—	$6.7M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3437	−0.031%	$43K	$237K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3437	−0.043%	$237K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3434	−0.119%	$29K	$256K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3439	+0.038%	$13K	$3.8M	5x	as long as short
Orderly PERP_KAITO_USDC_mythoslong	+0.0100%	4h	0.3438	long leg	$3K	$2K	10x
Extended KAITO-USD	+0.0104%	1h	0.3442	+0.119%	$61K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3438	+0.009%	$239K	$1K	3x	as long as short
Paradex KAITO-USD-PERP	+0.0104%	8h	0.3442	+0.107%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0110%	4h	0.3439	+0.023%	$17K	$320K	5x	as long as short
01 Exchange KAITOUSD	+0.0288%	1h	0.3440	+0.044%	$6K	$2K	3x	as long as short
Hyperliquid KAITO	+0.0659%	1h	0.3446	+0.238%	$2.0M	$740K	5x	as long as short
Lighter KAITO	+0.0976%	1h	0.3450	+0.349%	$82K	$82K	5x	as long as short