KAITO

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1269%/8h= +138.9% APRnext payment +$1.59 per $10,000 · paid last 24h +0.126%

Price spread now: Hyperliquid against Backpack+0.247%7-day average +0.113% · you sell dearer than you buy

Net, funding: paid 7d − costs−$68as in the Funding arb table

Net, price: spread back to 7d avg − costs−$35as in the Price arb table

costs, in and out, $10k−$480.485% of the position

Long on Backpack Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.198%−$20 on $10k

Price spread, last 4 days (all we have)−0.340%−$34 · spread now +0.247%, 7d avg +0.113%

Together, before fees−0.538%+ Points / potential airdropHyperliquid: Season 2 · farm board−$54 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$38 a day on $10k at the current rate, and Hyperliquid is 0.135% dearer against Backpack than usual: you sell high and buy low: +$13 more if the spread goes back to its 7-day average of +0.113%. Mind the row above: over the last 7 days funding on this pair cost −0.198%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.198% in total (about -10.3% a year). A funding rate is set anew for every payment; at this rate the next one is about +$1.59 per $10,000. 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	Backpack KAITO_USDC_PERP	0.3436	−0.0716	get 0.0089% / 1h	49m 14s	$20K	$167K	10x
Short	Hyperliquid KAITO	0.3444	0.0553	get 0.0069% / 1h	49m 14s	$2.0M	$804K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now +0.247%Rate

Funding earned: $266.47
Price spread: +0.247% → +0.113%: $13.47
Slippage, 4 orders: −$29.5
Fee Backpack: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $231.44
Costs to cover: 0.485%
Break-even: 0.9 days

Slippage from Backpack: live order book, 9 min ago; Hyperliquid: live order book, 2 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, 9 min ago	0.87 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	2.02 bp	11.8 bp −$12	doesn't fit	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
Backpack KAITO_USDC_PERPlong	−0.0716%	1h	0.3436	long leg	$20K	$167K	10x
Injective KAITO/USDC PERP	−0.0154%	1h	0.3465	+0.859%	$7K	$52K	12x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−1.896%	—	—	—	as long as short
BloFin KAITO-USDT	+0.0084%	4h	0.3441	+0.160%	$548K	$65K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3442	+0.180%	$118K	$50K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3449	+0.398%	$18K	$15K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3436	+0.027%	$10.4M	$16.7M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3440	+0.131%	$4.3M	$7.5M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3437	+0.044%	$4.2M	$10.5M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3439	+0.102%	$660K	$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	0.3436	+0.015%	$3.3M	$1.1M	50x	as long as short
KuCoin KAITOUSDTM	+0.0100%	4h	0.3442	+0.189%	$1.4M	$166K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3439	+0.102%	$4.4M	$3.3M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3438	+0.073%	—	$6.5M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3461	+0.754%	$43K	$228K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3477	+1.208%	$233K	$2.6M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3459	+0.684%	$30K	$257K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3443	+0.212%	$16K	$4.3M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3441	+0.169%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3438	+0.082%	$77K	$62K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3435	−0.002%	$238K	—	3x	as long as short
edgeX KAITOUSDC	+0.0113%	4h	0.3472	+1.072%	$17K	$323K	5x	as long as short
Paradex KAITO-USD-PERP	+0.0118%	8h	0.3453	+0.502%	$4K	$604	10x	as long as short
Kraken Futures PF_KAITOUSD	+0.0407%	1h	0.3439	+0.110%	$241K	$154K	10x	as long as short
Hyperliquid KAITOshort	+0.0553%	1h	0.3444	+0.247%	$2.0M	$804K	5x
01 Exchange KAITOUSD	+0.0776%	1h	0.3443	+0.221%	$6K	$2K	3x	as long as short
Lighter KAITO	+0.1360%	1h	0.3456	+0.582%	$85K	$92K	5x	as long as short