Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter−0.045%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.045% cheaper against Lighter than usual: you would sell low and buy high, −$5 on $10k if it 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	Lighter BIO	0.02882	0.0096	pay 0.0012% / 1h	43m 57s	$11K	$3K	3x
Short	Bybit BIOUSDT	0.02881	0.0100	get 0.0050% / 4h	1h 43m	$2.2M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpFee BybitbpOrdersPrice spread, now −0.045%Rate

Funding earned: $0.84
Price spread: −0.045% → 0.000%: −$4.51
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$14.67
Costs to cover: 0.110%
Break-even: 129.3 days

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 3 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 Lighter no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	1.74 bp	18.2 bp −$18	91.3 bp −$913	doesn't fit	doesn't fit

Lighter: 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
Lighter BIOlong	+0.0096%	1h	0.02882	long leg	$11K	$3K	3x
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02879	−0.114%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02879	−0.103%	$19K	$92K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02880	−0.080%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDTshort	+0.0100%	4h	0.02881	−0.045%	$2.2M	$2.6M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02880	−0.080%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02881	−0.045%	$1.4M	$265K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02879	−0.114%	$386K	$126K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02884	+0.059%	$555K	$126K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02879	−0.114%	$1.3M	$531K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BIO-USDT	+0.0100%	4h	0.02880	−0.080%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02877	−0.176%	$33K	$71K	—	as long as short
BloFin BIO-USDT	+0.0131%	4h	0.02875	−0.253%	$262K	$9K	50x	as long as short
Kraken Futures PF_BIOUSD	+0.0169%	1h	0.02882	−0.003%	$11K	$6K	20x	as long as short
Hyperliquid BIO	+0.0456%	1h	0.02885	+0.090%	$751K	$219K	3x	as long as short