Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.1269%/8h= +139.0% APRpaid last 24h +0.079%

Price spread now: Binance against Kraken Futures−0.085%7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Funding pays, the price is against you. Binance is 0.085% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.085% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$9 on $10k: about 5 hours of funding at the current rate (+$38 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BIOUSD	0.02861	−0.1169	get 0.0146% / 1h	47m 51s	$11K	$6K	20x
Short	Binance BIOUSDT	0.02859	0.0100	get 0.0050% / 4h	47m 51s	$6.1M	$7.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.085%Rate

Funding earned: $266.5
Price spread: −0.085% → 0.000%: −$8.54
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $237.96
Costs to cover: 0.200%
Break-even: 0.7 days

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 6 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Binance live order book, 6 min ago	1.74 bp	16.5 bp −$17	53.2 bp −$532	doesn't fit	doesn't fit

Kraken Futures: 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
Kraken Futures PF_BIOUSDlong	−0.1169%	1h	0.02861	long leg	$11K	$6K	20x
Aster BIOUSDT	−0.0091%	4h	0.02863	+0.053%	$21K	$104K	5x	as long as short
OKX BIO-USDT-SWAP	−0.0001%	4h	0.02859	−0.085%	$1.1M	$2.2M	20x	as long as short
BloFin BIO-USDT	+0.0076%	4h	0.02864	+0.089%	$262K	$7K	50x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02862	+0.019%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02865	+0.117%	$15K	$7K	3x	as long as short
Hyperliquid BIO	+0.0100%	1h	0.02865	+0.117%	$748K	$222K	3x	as long as short
Binance BIOUSDTshort	+0.0100%	4h	0.02859	−0.085%	$6.1M	$7.3M	50x
Bybit BIOUSDT	+0.0100%	4h	0.02862	+0.019%	$2.2M	$2.6M	50x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02864	+0.089%	$1.4M	$289K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BIO_USDT	+0.0100%	4h	0.02860	−0.050%	$403K	$132K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02865	+0.124%	$562K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02861	−0.015%	$1.3M	$556K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02861	−0.015%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02872	+0.386%	$33K	$66K	—	as long as short