Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0584%/8h= +63.9% APRpaid last 24h +0.063%

Price spread now: Hyperliquid against Variational Omni+0.172%7-day average — · you sell dearer than you buy

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Hyperliquid is 0.172% dearer against Variational Omni than usual: you sell high and buy low: +$17 more if the spread 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	Variational Omni BIO	0.02884	0.0100	pay 0.0050% / 4h	2h 18m	$33K	$71K	—
Short	Hyperliquid BIO	0.02889	0.0684	get 0.0086% / 1h	18m 17s	$756K	$217K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now +0.172%Rate

Funding earned: $122.64
Price spread: +0.172% → 0.000%: $17.19
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $130.84
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Variational Omni: no order-book sample; Hyperliquid: live order book, 2 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 2 min ago	1.21 bp	15.8 bp −$16	doesn't fit	doesn't fit	doesn't fit

Variational Omni: 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	−0.0666%	1h	0.02886	+0.072%	$11K	$6K	20x	as long as short
Lighter BIO	+0.0096%	1h	0.02885	+0.047%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02881	−0.099%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02882	−0.068%	$19K	$93K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02882	−0.068%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02882	−0.064%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02883	−0.029%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02883	−0.029%	$1.4M	$266K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02881	−0.099%	$378K	$128K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02885	+0.040%	$549K	$123K	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	0.02883	−0.029%	$1.3M	$522K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02882	−0.064%	—	$1.4M	—	as long as short
Variational Omni BIOlong	+0.0100%	4h	0.02884	long leg	$33K	$71K	—
BloFin BIO-USDT	+0.0129%	4h	0.02883	−0.029%	$262K	$9K	50x	as long as short
Hyperliquid BIOshort	+0.0684%	1h	0.02889	+0.172%	$756K	$217K	3x