Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.076%

Price spread now: Gate against Hyperliquid−0.031%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$169as in the Funding arb table

Net, price: spread back to 7d avg − costs−$151as in the Price arb table

costs, in and out, $10k−$1581.582% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)+0.066%+$7 · spread now −0.031%, 7d avg −0.100%

Together, before fees−0.039%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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: Gate is 0.069% dearer against Hyperliquid than usual: you sell high and buy low, +$7 on $10k if it goes back to its 7-day average of −0.100%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02895	0.0100	pay 0.0013% / 1h	6m 32s	$755K	$220K	3x
Short	Gate BIO_USDT	0.02894	0.0100	get 0.0100% / 8h	4h 06m	$1.5M	$315K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → −0.100%: $6.91
Slippage, 4 orders: −$134.16
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$151.25
Costs to cover: 1.582%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 23 min ago; Gate: live order book, 1 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, 23 min ago	2.24 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.18 bp	61.9 bp −$62	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	−0.1157%	1h	0.02891	−0.148%	$11K	$6K	20x	as long as short
Aster BIOUSDT	−0.0012%	4h	0.02890	−0.158%	$21K	$102K	5x	as long as short
OKX BIO-USDT-SWAP	+0.0095%	4h	0.02886	−0.307%	$1.2M	$2.2M	20x	as long as short
Orderly PERP_BIO_USDC	+0.0095%	4h	0.02890	−0.169%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02895	−0.003%	$15K	$7K	3x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02895	long leg	$755K	$220K	3x
Binance BIOUSDT	+0.0100%	4h	0.02886	−0.296%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02890	−0.169%	$2.2M	$2.5M	50x	as long as short
Gate BIO_USDTshort	+0.0100%	8h	0.02894	−0.031%	$1.5M	$315K	50x
MEXC BIO_USDT	+0.0100%	4h	0.02886	−0.307%	$406K	$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	0.02894	−0.031%	$558K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02889	−0.204%	$1.3M	$554K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02889	−0.204%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02901	+0.209%	$34K	$66K	—	as long as short
BloFin BIO-USDT	+0.0149%	4h	0.02891	−0.135%	$262K	$7K	50x	as long as short