Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.076%

Price spread now: MEXC against Hyperliquid−0.245%7-day average −0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$510.507% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 4 days (all we have)+0.091%+$9 · spread now −0.245%, 7d avg −0.180%

Together, before fees+0.006%+ Points / potential airdropHyperliquid: Season 2 · farm board+$1 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: MEXC is 0.065% cheaper against Hyperliquid than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.180%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02935	0.0100	pay 0.0013% / 1h	19m 40s	$769K	$215K	3x
Short	MEXC BIO_USDT	0.02928	0.0100	get 0.0050% / 4h	3h 19m	$400K	$129K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.245%Rate

Funding earned: $0
Price spread: −0.245% → −0.180%: −$6.53
Slippage, 4 orders: −$37.7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$57.23
Costs to cover: 0.507%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 40 min ago; MEXC: live order book, 36 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, 40 min ago	1.20 bp	21.4 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 36 min ago	1.72 bp	10.6 bp −$11	38.6 bp −$386	210.5 bp −$21.1K	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	−0.0222%	1h	0.02933	−0.078%	$11K	$6K	20x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02932	−0.109%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02933	−0.078%	$11K	$3K	3x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02935	long leg	$769K	$215K	3x
Aster BIOUSDT	+0.0100%	4h	0.02930	−0.189%	$21K	$95K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02928	−0.255%	$6.2M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02932	−0.109%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02927	−0.279%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02931	−0.143%	$1.5M	$284K	50x	as long as short
MEXC BIO_USDTshort	+0.0100%	4h	0.02928	−0.245%	$400K	$129K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02935	−0.007%	$568K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02929	−0.211%	$1.3M	$507K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02928	−0.245%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02931	−0.143%	$34K	$68K	—	as long as short
BloFin BIO-USDT	+0.0121%	4h	0.02927	−0.279%	$265K	$10K	50x	as long as short