Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0040%/8h= +4.3% APRpaid last 24h +0.050%

Price spread now: KuCoin against Kraken Futures+0.039%52s7-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 KuCoin

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 +$1 a day on $10k at the current rate, and KuCoin is 0.039% dearer against Kraken Futures than usual: you sell high and buy low: +$4 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BIOUSD	0.02890	0.0060	pay 0.0008% / 1h	25m 21s	$11K	$6K	20x
Short	KuCoin BIOUSDTM	0.02891	0.0100	get 0.0050% / 4h	25m 21s	$558K	$119K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.039%Rate

Funding earned: $8.34
Price spread: +0.039% → 0.000%: $3.88
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$9.79
Costs to cover: 0.220%
Break-even: 15.2 days

Slippage unknown: Kraken Futures: no order-book sample; KuCoin: live order book, 38 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 KuCoin live order book, 38 min ago	5.18 bp	278.9 bp −$279	doesn't fit	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
BloFin BIO-USDT	+0.0054%	4h	0.02891	+0.039%	$264K	$10K	50x	as long as short
Kraken Futures PF_BIOUSDlong	+0.0060%	1h	0.02890	long leg	$11K	$6K	20x
Lighter BIO	+0.0096%	1h	0.02889	−0.017%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0098%	4h	0.02886	−0.134%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02888	−0.065%	$21K	$96K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02884	−0.203%	$6.1M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02888	−0.065%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02887	−0.100%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02889	−0.030%	$1.5M	$276K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02883	−0.238%	$388K	$127K	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	0.02891	+0.039%	$558K	$119K	20x
Bitget BIOUSDT	+0.0100%	4h	0.02888	−0.065%	$1.3M	$524K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02888	−0.065%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02892	+0.079%	$33K	$71K	—	as long as short
Hyperliquid BIO	+0.0325%	1h	0.02892	+0.063%	$755K	$220K	3x	as long as short