Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0037%/8h= +4.0% APRpaid last 24h +0.033%

Price spread now: Orderly against Kraken Futures−0.162%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 Orderly

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. Orderly is 0.162% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.162% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$16 on $10k: about 15 days of funding at the current rate (+$1 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BIOUSD	0.02912	0.0060	pay 0.0007% / 1h	0m 50s	$11K	$6K	20x
Short	Orderly PERP_BIO_USDC	0.02907	0.0096	get 0.0048% / 4h	0m 50s	$13K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.162%Rate

Funding earned: $7.68
Price spread: −0.162% → 0.000%: −$16.22
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$24.55
Costs to cover: 0.160%
Break-even: 29.4 days

Slippage unknown: Kraken Futures: no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

Kraken Futures and Orderly: 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	+0.0042%	4h	0.02907	−0.162%	$264K	$10K	50x	as long as short
Kraken Futures PF_BIOUSDlong	+0.0060%	1h	0.02912	long leg	$11K	$6K	20x
Lighter BIO	+0.0096%	1h	0.02910	−0.070%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDCshort	+0.0096%	4h	0.02907	−0.162%	$13K	—	10x
Aster BIOUSDT	+0.0100%	4h	0.02908	−0.118%	$21K	$94K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02907	−0.162%	$6.2M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02910	−0.059%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02908	−0.128%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02909	−0.094%	$1.5M	$276K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02906	−0.197%	$390K	$128K	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	0.02911	−0.025%	$562K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02909	−0.094%	$1.3M	$498K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02908	−0.128%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02908	−0.141%	$34K	$71K	—	as long as short
Hyperliquid BIO	+0.0314%	1h	0.02913	+0.037%	$763K	$217K	3x	as long as short