Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0001%/8h= +0.1% APRpaid last 24h +0.006%

Price spread now: Lighter against Orderly+0.345%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 Lighter

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: Lighter is 0.345% dearer against Orderly than usual: you sell high and buy low, +$35 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	0.02896	0.0095	pay 0.0048% / 4h	1m 41s	$13K	—	10x
Short	Lighter BIO	0.02906	0.0096	get 0.0012% / 1h	1m 41s	$15K	$7K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now +0.345%Rate

Funding earned: $0.13
Price spread: +0.345% → 0.000%: $34.53
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Lighter: 0 bp × 2 orders: $0
Net: $28.66
Costs to cover: 0.060%
Break-even: from the start

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

Orderly and 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
Kraken Futures PF_BIOUSD	−0.1154%	1h	0.02899	+0.090%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0006%	4h	0.02894	−0.054%	$21K	$102K	5x	as long as short
Orderly PERP_BIO_USDClong	+0.0095%	4h	0.02896	long leg	$13K	—	10x
Lighter BIOshort	+0.0096%	1h	0.02906	+0.345%	$15K	$7K	3x
Hyperliquid BIO	+0.0100%	1h	0.02906	+0.335%	$758K	$220K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02900	+0.138%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02903	+0.242%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02901	+0.173%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02898	+0.069%	$1.5M	$315K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02900	+0.138%	$408K	$135K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02901	+0.173%	$560K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02901	+0.173%	$1.3M	$550K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02900	+0.138%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02888	−0.259%	$33K	$66K	—	as long as short
BloFin BIO-USDT	+0.0122%	4h	0.02893	−0.104%	$264K	$7K	50x	as long as short