Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.1404%/8h= +153.7% APRpaid last 24h +0.200%

Price spread now: Lighter against Variational Omni−0.019%7-day average +0.066% · you buy dearer than you sell

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

Long on Variational Omni Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.266%+$27 on $10k

Price spread, last 4 days (all we have)−0.003%$0 · spread now −0.019%, 7d avg +0.066%

Together, before fees+0.263%+ Points / potential airdropVariational Omni: Active · Lighter: Season 3 · farm board+$26 on $10k · with fees, hour by hour

Funding pays, the price is against you. Lighter is 0.086% cheaper against Variational Omni than usual: you would sell low and buy high (spread −0.019% now, against its 7-day average of +0.066%). If the spread goes back, that is −$9 on $10k: about 5 hours of funding at the current rate (+$42 a day). At the pace of the last 4 days (+0.266% in total) that is about 28 hours.

The current funding rate is far above what this pair has been paying: over the last 4 days it paid 0.266% in total (about 27.1% 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	Variational Omni KAITO	0.3531	0.0100	pay 0.0050% / 4h	2h 02m	$45K	$211K	—
Short	Lighter KAITO	0.3530	0.1504	get 0.0188% / 1h	2m 50s	$87K	$101K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Variational Omni. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpFee LighterbpOrdersPrice spread, now −0.019%Rate

Funding earned: $294.84
Price spread: −0.019% → +0.066%: −$8.58
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Lighter: 0 bp × 2 orders: $0
Net: $286.26
Costs to cover: 0.000%
Break-even: 0.2 days

Slippage unknown: Variational Omni: RFQ quote, 46 min ago; Lighter: live order book, 23 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 Variational Omni RFQ quote, 46 min ago	5.68 bp	doesn't fit	73.8 bp −$738	doesn't fit	doesn't fit
Sell Lighter live order book, 23 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
Injective KAITO/USDC PERP	−0.0060%	1h	0.3517	−0.393%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−4.546%	—	—	—	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3514	−0.490%	$118K	$51K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3517	−0.388%	$18K	$14K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3514	−0.491%	$10.7M	$17.2M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3516	−0.421%	$4.4M	$8.0M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3511	−0.563%	$4.3M	$11.1M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3514	−0.478%	$660K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3513	−0.506%	$3.0M	$1.2M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3520	−0.308%	$1.4M	$172K	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	0.3518	−0.365%	$4.4M	$3.5M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3514	−0.478%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3516	−0.433%	$20K	$186K	10x	as long as short
Variational Omni KAITOlong	+0.0100%	4h	0.3531	long leg	$45K	$211K	—
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3518	−0.365%	$240K	$2.5M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3525	−0.167%	$30K	$260K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3519	−0.348%	$16K	$4.7M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3516	−0.419%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3514	−0.480%	$81K	$63K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3515	−0.436%	$244K	—	3x	as long as short
BloFin KAITO-USDT	+0.0109%	4h	0.3518	−0.365%	$547K	$68K	75x	as long as short
Paradex KAITO-USD-PERP	+0.0114%	8h	0.3516	−0.414%	$4K	$604	10x	as long as short
edgeX KAITOUSDC	+0.0115%	4h	0.3526	−0.142%	$18K	$326K	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0384%	1h	0.3514	−0.470%	$246K	$155K	10x	as long as short
Hyperliquid KAITO	+0.0824%	1h	0.3518	−0.368%	$2.1M	$865K	5x	as long as short
Lighter KAITOshort	+0.1504%	1h	0.3530	−0.019%	$87K	$101K	5x
01 Exchange KAITOUSD	+0.7872%	1h	0.3592	+1.725%	$6K	$1K	3x	as long as short