Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0008%/8h= +0.8% APRpaid last 24h −0.080%

Price spread now: BloFin against Hyperliquid−0.216%7-day average −0.181% · you buy dearer than you sell

Net, funding: paid 7d − costs−$78as in the Funding arb table

Net, price: spread back to 7d avg − costs−$73as in the Price arb table

costs, in and out, $10k−$700.695% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.089%−$9 on $10k

Price spread, last 4 days (all we have)−0.132%−$13 · spread now −0.216%, 7d avg −0.181%

Together, before fees−0.220%+ Points / potential airdropHyperliquid: Season 2 · farm board−$22 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: BloFin is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.181%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02910	0.0100	pay 0.0013% / 1h	33m 07s	$759K	$216K	3x
Short	BloFin BIO-USDT	0.02904	0.0108	get 0.0054% / 4h	3h 33m	$264K	$7K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. 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 HyperliquidbpFee BloFinbpOrdersPrice spread, now −0.216%Rate

Funding earned: $1.59
Price spread: −0.216% → −0.181%: −$3.53
Slippage, 4 orders: −$48.5
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$71.45
Costs to cover: 0.695%
Break-even: 322.2 days

Slippage from Hyperliquid: live order book, 57 min ago; BloFin: live order book, 59 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 Hyperliquid live order book, 57 min ago	2.24 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 59 min ago	1.73 bp	21.4 bp −$21	52.9 bp −$529	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	−0.0461%	1h	0.02906	−0.163%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0015%	4h	0.02913	+0.089%	$21K	$102K	5x	as long as short
Lighter BIO	+0.0096%	1h	0.02912	+0.069%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02904	−0.216%	$13K	—	10x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02910	long leg	$759K	$216K	3x
Binance BIOUSDT	+0.0100%	4h	0.02904	−0.211%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02906	−0.148%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02905	−0.182%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02911	+0.024%	$1.5M	$310K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02905	−0.182%	$407K	$134K	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	0.02911	+0.024%	$563K	$116K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02912	+0.058%	$1.3M	$543K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02906	−0.148%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02916	+0.213%	$34K	$65K	—	as long as short
BloFin BIO-USDTshort	+0.0108%	4h	0.02904	−0.216%	$264K	$7K	50x