Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0994%/8h= +108.8% APRpaid last 24h +0.111%

Price spread now: Bybit against Kraken Futures+0.104%7-day average — · you sell dearer than you buy

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

Long on Kraken Futures Short on Bybit

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

Both sides work for this trade now. Funding pays +$30 a day on $10k at the current rate, and Bybit is 0.104% dearer against Kraken Futures than usual: you sell high and buy low: +$10 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BIOUSD	0.02883	−0.0894	get 0.0112% / 1h	43m 10s	$11K	$6K	20x
Short	Bybit BIOUSDT	0.02886	0.0100	get 0.0050% / 4h	43m 10s	$2.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.104%Rate

Funding earned: $208.67
Price spread: +0.104% → 0.000%: $10.38
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: $198.05
Costs to cover: 0.210%
Break-even: 0.4 days

Slippage unknown: Kraken Futures: no order-book sample; Bybit: live order book, 4 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 Bybit live order book, 4 min ago	3.46 bp	18.7 bp −$19	94.2 bp −$942	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	−0.0894%	1h	0.02883	long leg	$11K	$6K	20x
Lighter BIO	+0.0096%	1h	0.02891	+0.288%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02884	+0.034%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02885	+0.057%	$21K	$101K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02885	+0.058%	$6.1M	$7.6M	50x	as long as short
Bybit BIOUSDTshort	+0.0100%	4h	0.02886	+0.104%	$2.1M	$2.4M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02882	−0.035%	$1.1M	$2.1M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02890	+0.243%	$1.5M	$339K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02885	+0.069%	$411K	$138K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02887	+0.139%	$546K	$119K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BIOUSDT	+0.0100%	4h	0.02886	+0.104%	$1.3M	$548K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02887	+0.139%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02886	+0.119%	$31K	$68K	—	as long as short
BloFin BIO-USDT	+0.0106%	4h	0.02881	−0.070%	$261K	$7K	50x	as long as short
Hyperliquid BIO	+0.0346%	1h	0.02890	+0.236%	$753K	$214K	3x	as long as short