Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.010%

Price spread now: Polymarket Perps against Backpack0.000%7-day average +0.053% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$320.323% of the position

Long on Backpack Short on Polymarket Perps

What this pair did over the last

the charts below follow

Funding, last 7 days−0.717%−$72 on $10k

Price spread, last 4 days (all we have)+0.854%+$85 · spread now 0.000%, 7d avg +0.053%

Together, before fees+0.137%+$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Polymarket Perps is 0.053% cheaper against Backpack than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.053%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack KAITO_USDC_PERP	0.3442	0.0100	pay 0.0013% / 1h	3m 17s	$18K	$168K	10x
Short	Polymarket Perps KAITO-USD	0.3442	0.0100	get 0.0013% / 1h	3m 17s	$11K	$4.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Polymarket Perps against Backpack. 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 BackpackbpFee Polymarket PerpsbpOrdersPrice spread, now 0.000%Rate

Funding earned: $0
Price spread: 0.000% → +0.053%: −$5.35
Slippage, 4 orders: −$14.34
Fee Backpack: 5 bp × 2 orders: −$10
Fee Polymarket Perps: 4 bp × 2 orders: −$8
Net: −$37.68
Costs to cover: 0.323%
Break-even: never at this rate

Slippage from Backpack: live order book, 20 min ago; Polymarket Perps: 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 Backpack live order book, 20 min ago	0.43 bp	9.5 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Polymarket Perps live order book, 6 min ago	2.18 bp	6.2 bp −$6	6.3 bp −$63	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	0.3446	+0.124%	$235K	$159K	10x	as long as short
Injective KAITO/USDC PERP	−0.0057%	1h	0.3458	+0.471%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.079%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3440	−0.052%	$115K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3440	−0.059%	$17K	$12K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3442	−0.005%	$10.4M	$15.7M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3442	+0.006%	$4.3M	$6.6M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3439	−0.081%	$4.1M	$9.9M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3441	−0.023%	$668K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3440	−0.052%	$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	0.3441	−0.023%	$1.4M	$166K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3443	+0.035%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3440	−0.052%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERPlong	+0.0100%	1h	0.3442	long leg	$18K	$168K	10x
Variational Omni KAITO	+0.0100%	4h	0.3442	+0.001%	$43K	$236K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3441	−0.023%	$230K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3439	−0.081%	$29K	$256K	50x	as long as short
Polymarket Perps KAITO-USDshort	+0.0100%	1h	0.3442	0.000%	$11K	$4.0M	5x
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3440	−0.058%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0102%	8h	0.3440	−0.060%	$4K	$604	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3443	+0.037%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3440	−0.047%	$239K	$1K	3x	as long as short
edgeX KAITOUSDC	+0.0107%	4h	0.3438	−0.115%	$17K	$321K	5x	as long as short
BloFin KAITO-USDT	+0.0122%	4h	0.3437	−0.139%	$536K	$59K	75x	as long as short
01 Exchange KAITOUSD	+0.0184%	1h	0.3440	−0.041%	$6K	$2K	3x	as long as short
Hyperliquid KAITO	+0.0662%	1h	0.3445	+0.099%	$2.0M	$744K	5x	as long as short
Lighter KAITO	+0.1160%	1h	0.3455	+0.375%	$83K	$82K	5x	as long as short