Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0052%/8h= +5.7% APRpaid last 24h +0.083%

Price spread now: Hyperliquid against BloFin+0.218%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$59as in the Price arb table

costs, in and out, $10k−$630.634% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.093%+$9 on $10k

Price spread, last 4 days (all we have)+0.236%+$24 · spread now +0.218%, 7d avg +0.179%

Together, before fees+0.329%+ Points / potential airdropHyperliquid: Season 2 · farm board+$33 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Hyperliquid is 0.040% dearer against BloFin than usual: you sell high and buy low: +$4 more if the spread goes back to its 7-day average of +0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BIO-USDT	0.02885	0.0048	pay 0.0024% / 4h	31m 09s	$263K	$7K	50x
Short	Hyperliquid BIO	0.02891	0.0100	get 0.0013% / 1h	31m 09s	$754K	$223K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.218%Rate

Funding earned: $11
Price spread: +0.218% → +0.179%: $3.97
Slippage, 4 orders: −$42.43
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$48.46
Costs to cover: 0.634%
Break-even: 37.8 days

Slippage from BloFin: live order book, 1 min ago; Hyperliquid: live order book, 69 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 BloFin live order book, 1 min ago	1.73 bp	11.8 bp −$12	39.3 bp −$393	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 69 min ago	0.86 bp	16.4 bp −$16	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	−0.1158%	1h	0.02888	+0.088%	$11K	$6K	20x	as long as short
Aster BIOUSDT	−0.0083%	4h	0.02887	+0.065%	$21K	$104K	5x	as long as short
OKX BIO-USDT-SWAP	+0.0038%	4h	0.02886	+0.035%	$1.2M	$2.2M	20x	as long as short
BloFin BIO-USDTlong	+0.0048%	4h	0.02885	long leg	$263K	$7K	50x
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02886	+0.035%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02892	+0.229%	$15K	$7K	3x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02891	+0.218%	$754K	$223K	3x
Binance BIOUSDT	+0.0100%	4h	0.02887	+0.054%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02888	+0.104%	$2.2M	$2.6M	50x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02887	+0.069%	$1.5M	$291K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BIO_USDT	+0.0100%	4h	0.02886	+0.035%	$406K	$134K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02891	+0.208%	$567K	$116K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02887	+0.069%	$1.3M	$558K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02887	+0.069%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02862	−0.780%	$33K	$66K	—	as long as short