Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Orderly against Lighter−0.228%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 Orderly

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: Orderly is 0.228% cheaper against Lighter than usual: you would sell low and buy high, −$23 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	0.02900	0.0096	pay 0.0012% / 1h	4m 42s	$11K	$3K	3x
Short	Orderly PERP_BIO_USDC	0.02893	0.0096	get 0.0048% / 4h	4m 42s	$13K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.228%Rate

Funding earned: $0.08
Price spread: −0.228% → 0.000%: −$22.76
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$28.68
Costs to cover: 0.060%
Break-even: 2396.8 days

Slippage unknown: Lighter: 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 Lighter no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Lighter 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
Kraken Futures PF_BIOUSD	+0.0060%	1h	0.02896	−0.121%	$11K	$6K	20x	as long as short
Lighter BIOlong	+0.0096%	1h	0.02900	long leg	$11K	$3K	3x
Orderly PERP_BIO_USDCshort	+0.0096%	4h	0.02893	−0.228%	$13K	—	10x
Aster BIOUSDT	+0.0100%	4h	0.02894	−0.202%	$21K	$96K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02896	−0.139%	$6.2M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02900	+0.014%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02899	−0.021%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02894	−0.193%	$1.5M	$276K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02896	−0.124%	$389K	$128K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02898	−0.055%	$560K	$117K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BIOUSDT	+0.0100%	4h	0.02896	−0.124%	$1.3M	$498K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02895	−0.159%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02894	−0.207%	$33K	$71K	—	as long as short
BloFin BIO-USDT	+0.0142%	4h	0.02894	−0.193%	$263K	$10K	50x	as long as short
Hyperliquid BIO	+0.0329%	1h	0.02902	+0.079%	$760K	$217K	3x	as long as short