Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0374%/8h= −40.9% APRpaid last 24h −0.070%

Price spread now: Variational Omni against Hyperliquid−0.265%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$11 a day on $10k at the current rate, and Variational Omni is 0.265% cheaper against Hyperliquid than usual: you would sell low and buy high (−$27 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02889	0.0474	pay 0.0059% / 1h	24m 27s	$755K	$219K	3x
Short	Variational Omni BIO	0.02881	0.0100	get 0.0050% / 4h	1h 24m	$33K	$71K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.265%Rate

Funding earned: −$78.47
Price spread: −0.265% → 0.000%: −$26.52
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$113.99
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 56 min ago; Variational Omni: 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 Hyperliquid live order book, 56 min ago	1.21 bp	16.0 bp −$16	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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
Lighter BIO	+0.0096%	1h	0.02885	−0.132%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02882	−0.235%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02883	−0.188%	$18K	$94K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02881	−0.267%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02884	−0.166%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02882	−0.235%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02885	−0.132%	$1.4M	$266K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02882	−0.235%	$386K	$127K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02887	−0.062%	$556K	$123K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02884	−0.166%	$1.3M	$528K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BIO-USDT	+0.0100%	4h	0.02884	−0.166%	—	$1.4M	—	as long as short
Variational Omni BIOshort	+0.0100%	4h	0.02881	−0.265%	$33K	$71K	—
BloFin BIO-USDT	+0.0110%	4h	0.02879	−0.339%	$262K	$9K	50x	as long as short
Kraken Futures PF_BIOUSD	+0.0168%	1h	0.02885	−0.125%	$11K	$6K	20x	as long as short
Hyperliquid BIOlong	+0.0474%	1h	0.02889	long leg	$755K	$219K	3x