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: Gate against Lighter+0.129%7-day average — · you sell dearer than you buy

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

Long on Lighter Short on Gate

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: Gate is 0.129% dearer against Lighter than usual: you sell high and buy low, +$13 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	0.02879	0.0096	pay 0.0012% / 1h	17m 22s	$11K	$3K	3x
Short	Gate BIO_USDT	0.02883	0.0100	get 0.0100% / 8h	1h 17m	$1.4M	$266K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now +0.129%Rate

Funding earned: $0.84
Price spread: +0.129% → 0.000%: $12.85
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$1.31
Costs to cover: 0.150%
Break-even: 17.9 days

Slippage unknown: Lighter: no order-book sample; Gate: live order book, 5 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 Gate live order book, 5 min ago	5.19 bp	47.7 bp −$48	doesn't fit	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	0.02879	long leg	$11K	$3K	3x
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02881	+0.059%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02883	+0.120%	$18K	$94K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02879	−0.010%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02882	+0.094%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02881	+0.059%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDTshort	+0.0100%	8h	0.02883	+0.129%	$1.4M	$266K	50x
MEXC BIO_USDT	+0.0100%	4h	0.02879	−0.010%	$386K	$127K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02885	+0.198%	$555K	$123K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02883	+0.129%	$1.3M	$528K	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	+0.024%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02886	+0.220%	$33K	$71K	—	as long as short
BloFin BIO-USDT	+0.0125%	4h	0.02879	−0.010%	$261K	$9K	50x	as long as short
Kraken Futures PF_BIOUSD	+0.0169%	1h	0.02882	+0.081%	$11K	$6K	20x	as long as short
Hyperliquid BIO	+0.0443%	1h	0.02886	+0.243%	$754K	$220K	3x	as long as short