Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1370%/8h= +150.0% APRpaid last 24h +0.213%

Price spread now: Lighter against BloFin+0.409%60s7-day average +0.119% · you sell dearer than you buy

Net, funding: paid 7d − costs−$67as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$940.938% of the position

Long on BloFin Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.265%+$26 on $10k

Price spread, last 4 days (all we have)−0.448%−$45 · spread now +0.409%, 7d avg +0.119%

Together, before fees−0.184%+ Points / potential airdropLighter: Season 3 · farm board−$18 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$41 a day on $10k at the current rate, and Lighter is 0.291% dearer against BloFin than usual: you sell high and buy low: +$29 more if the spread goes back to its 7-day average of +0.119%. The two prices were read 60 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.265% in total (about 13.8% 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	BloFin KAITO-USDT	0.3493	0.0126	pay 0.0063% / 4h	1h 52m	$556K	$68K	75x
Short	Lighter KAITO	0.3507	0.1496	get 0.0187% / 1h	52m 07s	$86K	$101K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against BloFin. 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 BloFinbpFee LighterbpOrdersPrice spread, now +0.409%Rate

Funding earned: $287.62
Price spread: +0.409% → +0.119%: $29.08
Slippage, 4 orders: −$81.75
Fee BloFin: 6 bp × 2 orders: −$12
Fee Lighter: 0 bp × 2 orders: $0
Net: $222.95
Costs to cover: 0.938%
Break-even: 1.6 days

Slippage from BloFin: live order book, 34 min ago; Lighter: live order book, 33 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 BloFin live order book, 34 min ago	1.44 bp	15.0 bp −$15	23.0 bp −$230	doesn't fit	doesn't fit
Sell Lighter live order book, 33 min ago	10.47 bp	11.9 bp −$12	88.8 bp −$888	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
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.510%	—	—	—	as long as short
Injective KAITO/USDC PERP	+0.0044%	1h	0.3517	+0.687%	$7K	$52K	12x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3491	−0.061%	$117K	$51K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3496	+0.079%	$18K	$14K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3490	−0.083%	$10.6M	$17.2M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3490	−0.086%	$4.3M	$8.0M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3487	−0.172%	$4.3M	$11.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3493	0.000%	$657K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3491	−0.057%	$3.0M	$1.1M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3497	+0.115%	$1.4M	$171K	30x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget KAITOUSDT	+0.0100%	4h	0.3494	+0.029%	$4.4M	$3.5M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3491	−0.057%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3490	−0.094%	$19K	$186K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3508	+0.426%	$44K	$211K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3503	+0.286%	$239K	$2.5M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3511	+0.515%	$29K	$260K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3493	−0.006%	$12K	$4.6M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3491	−0.046%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3492	−0.020%	$80K	$63K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3491	−0.056%	$242K	—	3x	as long as short
edgeX KAITOUSDC	+0.0106%	4h	0.3502	+0.244%	$18K	$325K	5x	as long as short
Paradex KAITO-USD-PERP	+0.0113%	8h	0.3494	+0.038%	$4K	$604	10x	as long as short
BloFin KAITO-USDTlong	+0.0126%	4h	0.3493	long leg	$556K	$68K	75x
Hyperliquid KAITO	+0.0654%	1h	0.3496	+0.074%	$2.0M	$864K	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0812%	1h	0.3493	+0.002%	$245K	$156K	10x	as long as short
Lighter KAITOshort	+0.1496%	1h	0.3507	+0.409%	$86K	$101K	5x
01 Exchange KAITOUSD	+0.7936%	1h	0.3579	+2.471%	$6K	$988	3x	as long as short