Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0715%/8h= −78.3% APRpaid last 24h −0.125%

Price spread now: BloFin against Hyperliquid−0.308%107s7-day average −0.109% · you buy dearer than you sell

Net, funding: paid 7d − costs−$74as 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−$560.555% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.188%−$19 on $10k

Price spread, last 4 days (all we have)+0.335%+$34 · spread now −0.308%, 7d avg −0.109%

Together, before fees+0.147%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$21 a day on $10k at the current rate, and BloFin is 0.199% cheaper against Hyperliquid than usual: you would sell low and buy high (−$20 if the spread goes back to its 7-day average of −0.109%). Swap the legs. The two prices were read 107 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 -0.188% in total (about -9.8% 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	Hyperliquid KAITO	0.3474	0.0805	pay 0.0101% / 1h	29m 21s	$2.0M	$853K	5x
Short	BloFin KAITO-USDT	0.3463	0.0091	get 0.0045% / 4h	2h 29m	$555K	$67K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.308%Rate

Funding earned: −$150.08
Price spread: −0.308% → −0.109%: −$19.92
Slippage, 4 orders: −$34.51
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$225.5
Costs to cover: 0.555%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 1 min ago; BloFin: live order book, 62 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, 1 min ago	1.73 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 62 min ago	4.25 bp	15.8 bp −$16	26.5 bp −$265	160.8 bp −$16.1K	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
Backpack KAITO_USDC_PERP	−0.0286%	1h	0.3469	−0.141%	$20K	$185K	10x	as long as short
Injective KAITO/USDC PERP	−0.0060%	1h	0.3470	−0.107%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−2.974%	—	—	—	as long as short
BloFin KAITO-USDTshort	+0.0091%	4h	0.3463	−0.308%	$555K	$67K	75x
Aster KAITOUSDT	+0.0100%	4h	0.3468	−0.158%	$117K	$50K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3468	−0.173%	$18K	$14K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3468	−0.164%	$10.6M	$17.1M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3470	−0.107%	$4.3M	$7.9M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3466	−0.222%	$4.2M	$10.8M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3466	−0.222%	$651K	$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	0.3466	−0.222%	$3.1M	$1.1M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3471	−0.078%	$1.4M	$179K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3473	−0.020%	$4.3M	$3.5M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3467	−0.193%	—	$6.8M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3465	−0.237%	$43K	$211K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3468	−0.170%	$246K	$2.5M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3464	−0.279%	$29K	$261K	50x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3467	−0.204%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3467	−0.205%	$80K	$63K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3468	−0.150%	$241K	—	3x	as long as short
Paradex KAITO-USD-PERP	+0.0109%	8h	0.3466	−0.232%	$4K	$604	10x	as long as short
Polymarket Perps KAITO-USD	+0.0116%	1h	0.3471	−0.081%	$14K	$4.6M	5x	as long as short
edgeX KAITOUSDC	+0.0117%	4h	0.3468	−0.175%	$17K	$327K	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0390%	1h	0.3468	−0.159%	$243K	$154K	10x	as long as short
Hyperliquid KAITOlong	+0.0805%	1h	0.3474	long leg	$2.0M	$853K	5x
Lighter KAITO	+0.1472%	1h	0.3482	+0.227%	$86K	$100K	5x	as long as short
01 Exchange KAITOUSD	+0.8352%	1h	0.3530	+1.621%	$6K	$1K	3x	as long as short