Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0007%/8h= +0.7% APRpaid last 24h +0.084%

Price spread now: Hyperliquid against Orderly+0.124%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Hyperliquid

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 airdropHyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.124% dearer against Orderly than usual: you sell high and buy low, +$12 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	Orderly PERP_BIO_USDC	0.02893	0.0093	pay 0.0047% / 4h	1h 45m	$13K	—	10x
Short	Hyperliquid BIO	0.02897	0.0100	get 0.0013% / 1h	45m 56s	$757K	$220K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Orderly. 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 OrderlybpFee HyperliquidbpOrdersPrice spread, now +0.124%Rate

Funding earned: $1.43
Price spread: +0.124% → 0.000%: $12.44
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$1.13
Costs to cover: 0.150%
Break-even: 12.5 days

Slippage unknown: Orderly: no order-book sample; Hyperliquid: live order book, 64 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 Orderly no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 64 min ago	2.23 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit

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	−0.0632%	1h	0.02894	+0.050%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0053%	4h	0.02893	0.000%	$20K	$102K	5x	as long as short
BloFin BIO-USDT	+0.0070%	4h	0.02886	−0.242%	—	$8K	50x	as long as short
Orderly PERP_BIO_USDClong	+0.0093%	4h	0.02893	long leg	$13K	—	10x
Lighter BIO	+0.0096%	1h	0.02897	+0.149%	$15K	$7K	3x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02897	+0.124%	$757K	$220K	3x
Binance BIOUSDT	+0.0100%	4h	0.02897	+0.130%	$6.1M	$7.2M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02898	+0.173%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02896	+0.104%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02897	+0.138%	$1.5M	$286K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BIO_USDT	+0.0100%	4h	0.02892	−0.035%	$402K	$130K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02895	+0.069%	$561K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02898	+0.173%	$1.3M	$541K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02897	+0.138%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02894	+0.052%	$33K	$65K	—	as long as short