Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.076%

Price spread now: Hyperliquid against MEXC−0.038%7-day average +0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$500.503% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)+0.176%+$18 · spread now −0.038%, 7d avg +0.180%

Together, before fees+0.259%+ Points / potential airdropHyperliquid: Season 2 · farm board+$26 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.218% cheaper against MEXC than usual: you would sell low and buy high, −$22 on $10k if it goes back to its 7-day average of +0.180%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BIO_USDT	0.02867	0.0100	pay 0.0050% / 4h	2h 40m	$401K	$136K	20x
Short	Hyperliquid BIO	0.02866	0.0100	get 0.0013% / 1h	40m 46s	$747K	$218K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now −0.038%Rate

Funding earned: $0
Price spread: −0.038% → +0.180%: −$21.81
Slippage, 4 orders: −$37.31
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$72.12
Costs to cover: 0.503%
Break-even: never at this rate

Slippage from MEXC: live order book, 55 min ago; Hyperliquid: live order book, 39 min ago.

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 MEXC live order book, 55 min ago	1.72 bp	9.1 bp −$9	26.1 bp −$261	206.0 bp −$20.6K	doesn't fit
Sell Hyperliquid live order book, 39 min ago	0.69 bp	15.4 bp −$15	doesn't fit	doesn't fit	doesn't fit

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	−0.0571%	1h	0.02872	+0.160%	$11K	$6K	20x	as long as short
Aster BIOUSDT	−0.0009%	4h	0.02861	−0.209%	$21K	$101K	5x	as long as short
OKX BIO-USDT-SWAP	−0.0005%	4h	0.02860	−0.244%	$1.1M	$2.1M	20x	as long as short
Lighter BIO	+0.0096%	1h	0.02868	+0.052%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02871	+0.140%	$13K	—	10x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02866	−0.038%	$747K	$218K	3x
Binance BIOUSDT	+0.0100%	4h	0.02860	−0.244%	$6.0M	$7.5M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02862	−0.174%	$2.1M	$2.5M	50x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02870	+0.105%	$1.5M	$312K	50x	as long as short
MEXC BIO_USDTlong	+0.0100%	4h	0.02867	long leg	$401K	$136K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02873	+0.209%	$555K	$116K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02861	−0.209%	$1.3M	$547K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02860	−0.244%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02871	+0.124%	$33K	$65K	—	as long as short
BloFin BIO-USDT	+0.0119%	4h	0.02871	+0.140%	$263K	$7K	50x	as long as short