Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.076%

Price spread now: Hyperliquid against Bitget+0.100%7-day average +0.171% · you sell dearer than you buy

Net, funding: paid 7d − costs−$106as in the Funding arb table

Net, price: spread back to 7d avg − costs−$119as in the Price arb table

costs, in and out, $10k−$1121.117% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.059%+$6 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now +0.100%, 7d avg +0.171%

Together, before fees+0.091%+ Points / potential airdropHyperliquid: Season 2 · farm board+$9 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.072% cheaper against Bitget than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.171%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BIOUSDT	0.02902	0.0100	pay 0.0050% / 4h	2h 52m	$1.3M	$522K	50x
Short	Hyperliquid BIO	0.02905	0.0100	get 0.0013% / 1h	52m 03s	$759K	$220K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.100%Rate

Funding earned: $0
Price spread: +0.100% → +0.171%: −$7.15
Slippage, 4 orders: −$90.68
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$118.83
Costs to cover: 1.117%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 68 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 Bitget live order book, 4 min ago	5.20 bp	28.0 bp −$28	133.9 bp −$1,339	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 68 min ago	1.20 bp	12.5 bp −$13	doesn't fit	doesn't fit	doesn't fit

BIO on 15 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
Kraken Futures PF_BIOUSD	−0.0539%	1h	0.02903	+0.022%	$11K	$6K	20x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02903	+0.034%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02904	+0.059%	$11K	$3K	3x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02905	+0.100%	$759K	$220K	3x
Aster BIOUSDT	+0.0100%	4h	0.02903	+0.023%	$21K	$96K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02902	−0.011%	$6.2M	$7.1M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02903	+0.034%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02899	−0.103%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02904	+0.069%	$1.5M	$299K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02901	−0.034%	$400K	$128K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02905	+0.103%	$562K	$117K	20x	as long as short
Bitget BIOUSDTlong	+0.0100%	4h	0.02902	long leg	$1.3M	$522K	50x
BingX BIO-USDT	+0.0100%	4h	0.02902	0.000%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02882	−0.687%	$33K	$68K	—	as long as short
BloFin BIO-USDT	+0.0159%	4h	0.02894	−0.276%	$266K	$10K	50x	as long as short