Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0199%/8h= −21.8% APRpaid last 24h −0.058%

Price spread now: KuCoin against Hyperliquid−0.073%7-day average −0.090% · you buy dearer than you sell

Net, funding: paid 7d − costs−$557as in the Funding arb table

Net, price: spread back to 7d avg − costs−$548as in the Price arb table

costs, in and out, $10k−$5495.494% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.071%−$7 on $10k

Price spread, last 4 days (all we have)+0.072%+$7 · spread now −0.073%, 7d avg −0.090%

Together, before fees+0.001%+ Points / potential airdropHyperliquid: Season 2 · farm board$0 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.090%, so right now this pair is about funding alone: −$6 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.071% in total (about -3.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02896	0.0299	pay 0.0037% / 1h	30m 50s	$756K	$220K	3x
Short	KuCoin BIOUSDTM	0.02894	0.0100	get 0.0050% / 4h	30m 50s	$559K	$119K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Hyperliquid. 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 HyperliquidbpFee KuCoinbpOrdersPrice spread, now −0.073%Rate

Funding earned: −$41.75
Price spread: −0.073% → −0.090%: $1.72
Slippage, 4 orders: −$528.44
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$589.46
Costs to cover: 5.494%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 39 min ago; KuCoin: live order book, 32 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, 39 min ago	1.56 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 32 min ago	5.18 bp	278.9 bp −$279	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
BloFin BIO-USDT	+0.0057%	4h	0.02891	−0.176%	$264K	$10K	50x	as long as short
Kraken Futures PF_BIOUSD	+0.0060%	1h	0.02892	−0.146%	$11K	$6K	20x	as long as short
Lighter BIO	+0.0096%	1h	0.02892	−0.155%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02890	−0.211%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02890	−0.211%	$19K	$96K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02888	−0.280%	$6.1M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02891	−0.176%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02891	−0.176%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02893	−0.107%	$1.5M	$276K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02889	−0.245%	$388K	$126K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTMshort	+0.0100%	4h	0.02894	−0.073%	$559K	$119K	20x
Bitget BIOUSDT	+0.0100%	4h	0.02890	−0.211%	$1.3M	$524K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02891	−0.176%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02891	−0.188%	$33K	$71K	—	as long as short
Hyperliquid BIOlong	+0.0299%	1h	0.02896	long leg	$756K	$220K	3x