Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0731%/8h= +80.1% APRpaid last 24h +0.073%

Price spread now: MEXC against Kraken Futures+0.081%51s7-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 MEXC

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 +$22 a day on $10k at the current rate, and MEXC is 0.081% dearer against Kraken Futures than usual: you sell high and buy low: +$8 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 51 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	0.02900	−0.0631	get 0.0079% / 1h	33m 20s	$11K	$6K	20x
Short	MEXC BIO_USDT	0.02902	0.0100	get 0.0050% / 4h	1h 33m	$408K	$132K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now +0.081%Rate

Funding earned: $153.58
Price spread: +0.081% → 0.000%: $8.11
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: $147.7
Costs to cover: 0.140%
Break-even: 0.3 days

Slippage unknown: Kraken Futures: no order-book sample; MEXC: live order book, 12 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 MEXC live order book, 12 min ago	1.72 bp	8.9 bp −$9	32.7 bp −$327	213.7 bp −$21.4K	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	−0.0631%	1h	0.02900	long leg	$11K	$6K	20x
Aster BIOUSDT	+0.0031%	4h	0.02900	+0.017%	$21K	$103K	5x	as long as short
Orderly PERP_BIO_USDC	+0.0093%	4h	0.02904	+0.150%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02904	+0.136%	$15K	$7K	3x	as long as short
Hyperliquid BIO	+0.0100%	1h	0.02910	+0.357%	$758K	$220K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02903	+0.116%	$6.1M	$7.2M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02904	+0.150%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02902	+0.081%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02903	+0.116%	$1.5M	$288K	50x	as long as short
MEXC BIO_USDTshort	+0.0100%	4h	0.02902	+0.081%	$408K	$132K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02904	+0.150%	$569K	$119K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02903	+0.116%	$1.3M	$544K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02902	+0.081%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02897	−0.094%	$33K	$66K	—	as long as short
BloFin BIO-USDT	+0.0121%	4h	0.02899	−0.022%	$264K	$7K	50x	as long as short