Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0550%/8h= −60.2% APRpaid last 24h −0.055%

Price spread now: Binance against Hyperliquid−0.150%7-day average −0.074% · you buy dearer than you sell

Net, funding: paid 7d − costs−$62as in the Funding arb table

Net, price: spread back to 7d avg − costs−$58as in the Price arb table

costs, in and out, $10k−$500.499% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.120%−$12 on $10k

Price spread, last 7 days+0.083%+$8 · spread now −0.150%, 7d avg −0.074%

Together, before fees−0.037%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$16 a day on $10k at the current rate, and Binance is 0.076% cheaper against Hyperliquid than usual: you would sell low and buy high (−$8 if the spread goes back to its 7-day average of −0.074%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.120% in total (about -6.2% 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	0.3451	0.0650	pay 0.0081% / 1h	10m 28s	$2.0M	$745K	5x
Short	Binance KAITOUSDT	0.3446	0.0100	get 0.0050% / 4h	2h 10m	$10.4M	$15.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.150%Rate

Funding earned: −$115.41
Price spread: −0.150% → −0.074%: −$7.62
Slippage, 4 orders: −$30.91
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$172.94
Costs to cover: 0.499%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Binance: live order book, 15 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 Hyperliquid live order book, 10 min ago	1.01 bp	10.0 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 15 min ago	1.44 bp	15.5 bp −$16	41.0 bp −$410	350.3 bp −$35.0K	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	0.3451	−0.013%	$236K	$159K	10x	as long as short
Injective KAITO/USDC PERP	−0.0057%	1h	0.3458	+0.203%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.340%	—	—	—	as long as short
BloFin KAITO-USDT	+0.0075%	4h	0.3443	−0.232%	$540K	$59K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3446	−0.138%	$115K	$34K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3447	−0.121%	$17K	$12K	5x	as long as short
Binance KAITOUSDTshort	+0.0100%	4h	0.3446	−0.150%	$10.4M	$15.7M	75x
Bybit KAITOUSDT	+0.0100%	4h	0.3448	−0.087%	$4.3M	$6.6M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3443	−0.232%	$4.1M	$10.0M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3446	−0.145%	$669K	$1.7M	75x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC KAITO_USDT	+0.0100%	4h	0.3446	−0.145%	$3.3M	$1.1M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3447	−0.116%	$1.4M	$175K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3448	−0.087%	$4.2M	$2.9M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3445	−0.174%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3443	−0.229%	$18K	$168K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3447	−0.104%	$43K	$236K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3451	+0.013%	$231K	$3.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3448	−0.087%	$29K	$256K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3447	−0.122%	$13K	$4.0M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3446	−0.156%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0102%	8h	0.3446	−0.154%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0102%	4h	0.3449	−0.059%	$17K	$322K	5x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3446	−0.157%	$62K	$41K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3447	−0.120%	$239K	$1K	3x	as long as short
01 Exchange KAITOUSD	+0.0200%	1h	0.3444	−0.191%	$6K	$2K	3x	as long as short
Hyperliquid KAITOlong	+0.0650%	1h	0.3451	long leg	$2.0M	$745K	5x
Lighter KAITO	+0.1144%	1h	0.3461	+0.275%	$83K	$82K	5x	as long as short