Funding arb · Price arb /

KAITO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 10:00 UTC−0.1028%/8h= −112.6% APRpaid last 24h −0.254%

Price spread now: KuCoin against Lighter−0.542%7-day average −0.099% · you buy dearer than you sell

Net, funding: paid 7d − costs−$287as in the Funding arb table

Net, price: spread back to 7d avg − costs−$306as in the Price arb table

costs, in and out, $10k−$2612.614% of the position

Long on Lighter Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.256%−$26 on $10k

Price spread, last 4 days (all we have)+0.405%+$40 · spread now −0.542%, 7d avg −0.099%

Together, before fees+0.149%+ Points / potential airdropLighter: Season 3 · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$31 a day on $10k at the current rate, and KuCoin is 0.443% cheaper against Lighter than usual: you would sell low and buy high (−$44 if the spread goes back to its 7-day average of −0.099%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.256% in total (about -13.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made; yellow are the hours one leg has not settled yet: what the other leg paid, plus the unsettled leg at its current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter KAITO	0.3505	0.1128	pay 0.0141% / 1h	16m 25s	$86K	$102K	5x
Short	KuCoin KAITOUSDTM	0.3486	0.0100	get 0.0050% / 4h	2h 16m	$1.4M	$169K	30x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Lighter. 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 LighterbpFee KuCoinbpOrdersPrice spread, now −0.542%Rate

Funding earned: −$215.88
Price spread: −0.542% → −0.099%: −$44.35
Slippage, 4 orders: −$249.45
Fee Lighter: 0 bp × 2 orders: $0
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$521.67
Costs to cover: 2.614%
Break-even: never at this rate

Slippage from Lighter: live order book, 28 min ago; KuCoin: 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 Lighter live order book, 28 min ago	44.49 bp	44.8 bp −$45	66.4 bp −$664	doesn't fit	doesn't fit
Sell KuCoin live order book, 2 min ago	4.30 bp	127.6 bp −$128	918.2 bp −$9,182	doesn't fit	doesn't fit

KAITO on 27 exchanges

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	−0.0481%	1h	0.3485	−0.577%	$245K	$163K	10x	as long as short
Backpack KAITO_USDC_PERP	−0.0140%	1h	0.3488	−0.471%	$17K	$199K	10x	as long as short
Reya KAITORUSDPERP	0.0000%	1h	0.3370	−3.843%	—	—	—	as long as short
Injective KAITO/USDC PERP	+0.0033%	1h	0.3473	−0.913%	$7K	$52K	12x	as long as short
Aster KAITOUSDT	+0.0100%	4h	0.3488	−0.485%	$115K	$60K	10x	as long as short
Pacifica KAITO	+0.0100%	1h	0.3489	−0.454%	$19K	$8K	5x	as long as short
Binance KAITOUSDT	+0.0100%	4h	0.3489	−0.470%	$10.6M	$17.7M	75x	as long as short
Bybit KAITOUSDT	+0.0100%	4h	0.3492	−0.371%	$4.5M	$8.9M	75x	as long as short
OKX KAITO-USDT-SWAP	+0.0100%	4h	0.3489	−0.456%	$4.3M	$11.1M	50x	as long as short
Gate KAITO_USDT	+0.0100%	4h	0.3489	−0.456%	$648K	$1.7M	75x	as long as short

Show all 27 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC KAITO_USDT	+0.0100%	4h	0.3491	−0.399%	$3.4M	$1.4M	50x	as long as short
KuCoin KAITOUSDTMshort	+0.0100%	4h	0.3486	−0.542%	$1.4M	$169K	30x
Bitget KAITOUSDT	+0.0100%	4h	0.3493	−0.342%	$4.5M	$3.6M	75x	as long as short
BingX KAITO-USDC	+0.0100%	4h	0.3488	−0.485%	—	$6.5M	—	as long as short
Variational Omni KAITO	+0.0100%	4h	0.3490	−0.420%	$46K	$127K	—	as long as short
GRVT KAITO_USDT_Perp	+0.0100%	4h	0.3483	−0.637%	$241K	$2.2M	10x	as long as short
ApeX Omni KAITOUSDT	+0.0100%	1h	0.3489	−0.456%	$29K	$259K	50x	as long as short
Polymarket Perps KAITO-USD	+0.0100%	1h	0.3489	−0.456%	$18K	$5.0M	5x	as long as short
Orderly PERP_KAITO_USDC_mythos	+0.0100%	4h	0.3488	−0.474%	$3K	$2K	10x	as long as short
Paradex KAITO-USD-PERP	+0.0102%	8h	0.3489	−0.449%	$4K	—	10x	as long as short
Extended KAITO-USD	+0.0104%	1h	0.3489	−0.458%	$80K	$63K	10x	as long as short
Aevo KAITO-PERP	+0.0104%	1h	0.3489	−0.467%	$242K	—	3x	as long as short
edgeX KAITOUSDC	+0.0112%	4h	0.3482	−0.665%	$17K	$329K	5x	as long as short
BloFin KAITO-USDT	+0.0133%	4h	0.3489	−0.456%	$554K	$67K	75x	as long as short
Hyperliquid KAITO	+0.0183%	1h	0.3496	−0.251%	$2.0M	$912K	5x	as long as short
Lighter KAITOlong	+0.1128%	1h	0.3505	long leg	$86K	$102K	5x
01 Exchange KAITOUSD	+0.7296%	1h	0.3562	+1.635%	$6K	$503	3x	as long as short