Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0636%/8h= −69.6% APRpaid last 24h −0.063%

Price spread now: Kraken Futures against Bybit−0.084%55s7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$19 a day on $10k at the current rate, and Kraken Futures is 0.084% cheaper against Bybit than usual: you would sell low and buy high (−$8 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 55 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BIOUSDT	0.02923	0.0100	pay 0.0050% / 4h	2h 26m	$2.2M	$2.6M	50x
Short	Kraken Futures PF_BIOUSD	0.02921	−0.0536	pay 0.0067% / 1h	26m 26s	$11K	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.084%Rate

Funding earned: −$133.57
Price spread: −0.084% → 0.000%: −$8.36
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$162.93
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Kraken Futures: no order-book sample. Net counts fees only.

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, 1 min ago	3.42 bp	21.2 bp −$21	115.2 bp −$1,152	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

BIO on 14 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_BIOUSDshort	−0.0536%	1h	0.02921	−0.084%	$11K	$6K	20x
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02921	−0.068%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02923	−0.007%	$15K	$7K	3x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02919	−0.121%	$20K	$99K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02920	−0.102%	$6.2M	$7.2M	50x	as long as short
Bybit BIOUSDTlong	+0.0100%	4h	0.02923	long leg	$2.2M	$2.6M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02920	−0.103%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02923	0.000%	$1.5M	$304K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02920	−0.103%	$403K	$129K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02922	−0.034%	$1.3M	$524K	50x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BIO-USDT	+0.0100%	4h	0.02921	−0.068%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02922	−0.051%	$34K	$65K	—	as long as short
Hyperliquid BIO	+0.0116%	1h	0.02925	+0.062%	$764K	$218K	3x	as long as short
KuCoin BIOUSDTM	+0.0118%	4h	0.02921	−0.068%	$566K	$117K	20x	as long as short