Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0322%/8h= +35.2% APRpaid last 24h +0.049%

Price spread now: OKX against Kraken Futures−0.235%55s7-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 OKX

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. OKX is 0.235% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.235% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$23 on $10k: about 2.4 days of funding at the current rate (+$10 a day). The two prices were read 55 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	0.02932	−0.0222	get 0.0028% / 1h	6m 22s	$11K	$6K	20x
Short	OKX BIO-USDT-SWAP	0.02925	0.0100	get 0.0050% / 4h	3h 06m	$1.2M	$2.2M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.235%Rate

Funding earned: $67.53
Price spread: −0.235% → 0.000%: −$23.5
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee OKX: 5 bp × 2 orders: −$10
Net: $24.03
Costs to cover: 0.200%
Break-even: 4.5 days

Slippage unknown: Kraken Futures: no order-book sample; OKX: 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 OKX live order book, 6 min ago	1.71 bp	20.7 bp −$21	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
Kraken Futures PF_BIOUSDlong	−0.0222%	1h	0.02932	long leg	$11K	$6K	20x
BloFin BIO-USDT	+0.0067%	4h	0.02931	−0.030%	$267K	$10K	50x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02925	−0.235%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02933	+0.028%	$11K	$3K	3x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02929	−0.101%	$21K	$95K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02927	−0.158%	$6.3M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02927	−0.167%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAPshort	+0.0100%	4h	0.02925	−0.235%	$1.2M	$2.2M	20x
Gate BIO_USDT	+0.0100%	8h	0.02930	−0.064%	$1.5M	$286K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02927	−0.167%	$400K	$130K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02931	−0.030%	$567K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02929	−0.099%	$1.3M	$504K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02929	−0.099%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02937	+0.175%	$34K	$68K	—	as long as short
Hyperliquid BIO	+0.0158%	1h	0.02933	+0.045%	$768K	$214K	3x	as long as short