Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.1364%/8h= +149.4% APRpaid last 24h +0.218%

Price spread now: Lighter against Bybit+0.384%7-day average +0.057% · you sell dearer than you buy

Net, funding: paid 7d − costs−$88as in the Funding arb table

Net, price: spread back to 7d avg − costs−$77as in the Price arb table

costs, in and out, $10k−$1101.100% of the position

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days+0.225%+$22 on $10k

Price spread, last 4 days (all we have)−0.484%−$48 · spread now +0.384%, 7d avg +0.057%

Together, before fees−0.259%+ Points / potential airdropLighter: Season 3 · farm board−$26 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 0.327% dearer against Bybit than usual: you sell high and buy low: +$33 more if the spread goes back to its 7-day average of +0.057%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.225% in total (about 11.7% 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	Bybit KAITOUSDT	0.3517	0.0100	pay 0.0050% / 4h	1h 18m	$4.4M	$8.0M	75x
Short	Lighter KAITO	0.3530	0.1464	get 0.0183% / 1h	18m 44s	$87K	$102K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. 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 BybitbpFee LighterbpOrdersPrice spread, now +0.384%Rate

Funding earned: $286.44
Price spread: +0.384% → +0.057%: $32.66
Slippage, 4 orders: −$98.99
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $209.12
Costs to cover: 1.100%
Break-even: 1.9 days

Slippage from Bybit: live order book, 4 min ago; Lighter: live order book, 67 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 Bybit live order book, 4 min ago	1.42 bp	21.4 bp −$21	80.6 bp −$806	doesn't fit	doesn't fit
Sell Lighter live order book, 67 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	−4.171%	—	—	—	as long as short
Injective KAITO/USDC PERP	+0.0044%	1h	0.3510	−0.199%	$7K	$52K	12x	as long as short
BloFin KAITO-USDT	+0.0053%	4h	0.3513	−0.114%	$551K	$67K	75x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3515	−0.070%	$118K	$51K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3512	−0.129%	$18K	$14K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3514	−0.095%	$10.7M	$17.3M	75x	as long as short
Bybit KAITOUSDTlong	+0.0100%	4h	0.3517	long leg	$4.4M	$8.0M	75x
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3513	−0.114%	$4.3M	$11.1M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3512	−0.142%	$660K	$1.7M	75x	as long as short
MEXC KAITO_USDT	+0.0100%	4h	0.3513	−0.114%	$3.0M	$1.2M	50x	as long as short

Show all 27 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin KAITOUSDTM	+0.0100%	4h	0.3512	−0.142%	$1.4M	$164K	30x	as long as short
Bitget KAITOUSDT	+0.0100%	4h	0.3516	−0.028%	$4.4M	$3.5M	75x	as long as short
BingX KAITO-USDT	+0.0100%	4h	0.3515	−0.057%	—	$6.7M	—	as long as short
Backpack KAITO_USDC_PERP	+0.0100%	1h	0.3510	−0.208%	$19K	$190K	10x	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3512	−0.145%	$44K	$211K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3507	−0.289%	$239K	$2.5M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3511	−0.171%	$29K	$259K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3513	−0.122%	$13K	$4.7M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3512	−0.136%	$3K	$2K	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3512	−0.152%	$80K	$63K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3512	−0.143%	$244K	—	3x	as long as short
edgeX KAITOUSDC	+0.0111%	4h	0.3507	−0.299%	$18K	$325K	5x	as long as short
Paradex KAITO-USD-PERP	+0.0124%	8h	0.3513	−0.124%	$4K	$604	10x	as long as short
Hyperliquid KAITO	+0.0677%	1h	0.3521	+0.105%	$2.1M	$867K	5x	as long as short
Kraken Futures PF_KAITOUSD	+0.0808%	1h	0.3511	−0.178%	$246K	$156K	10x	as long as short
Lighter KAITOshort	+0.1464%	1h	0.3530	+0.384%	$87K	$102K	5x
01 Exchange KAITOUSD	+0.8296%	1h	0.3590	+2.067%	$6K	$988	3x	as long as short