Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit+0.148%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.148% dearer against Bybit than usual: you sell high and buy low, +$15 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BIOUSDT	0.02903	0.0100	pay 0.0050% / 4h	1m 03s	$2.2M	$2.5M	50x
Short	Lighter BIO	0.02907	0.0096	get 0.0012% / 1h	1m 03s	$15K	$7K	3x

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

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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 BybitbpFee LighterbpOrdersPrice spread, now +0.148%Rate

Funding earned: −$0.84
Price spread: +0.148% → 0.000%: $14.81
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: $2.97
Costs to cover: 0.110%
Break-even: from the start

Slippage unknown: Bybit: live order book, 1 min ago; Lighter: 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	3.45 bp	19.4 bp −$19	120.2 bp −$1,202	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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 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	−0.1153%	1h	0.02901	−0.061%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0006%	4h	0.02900	−0.095%	$21K	$102K	5x	as long as short
Orderly PERP_BIO_USDC	+0.0095%	4h	0.02900	−0.103%	$13K	—	10x	as long as short
Lighter BIOshort	+0.0096%	1h	0.02907	+0.148%	$15K	$7K	3x
Hyperliquid BIO	+0.0100%	1h	0.02907	+0.152%	$758K	$220K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02900	−0.096%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDTlong	+0.0100%	4h	0.02903	long leg	$2.2M	$2.5M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02900	−0.103%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02899	−0.138%	$1.5M	$315K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02900	−0.103%	$408K	$135K	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	+0.069%	$561K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02900	−0.103%	$1.3M	$550K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02900	−0.103%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02902	−0.017%	$34K	$66K	—	as long as short
BloFin BIO-USDT	+0.0127%	4h	0.02902	−0.034%	$264K	$7K	50x	as long as short