Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC0.0000%/8hpaid last 24h +0.063%

Price spread now: Hyperliquid against BingX+0.153%7-day average +0.126% · you sell dearer than you buy

to open and close $10k−$67fees + slippage, both legs, in and out

costs, in % of the position0.670%what the two incomes have to cover

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.044%+$4 on $10k

Price spread, last 3 days (all we have)−0.080%−$8 · spread now +0.153%, 7d avg +0.126%

Together, before fees−0.036%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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 0.027% dearer against BingX than usual: you sell high and buy low, +$3 on $10k if it goes back to its 7-day average of +0.126%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX BIO-USDT	0.02880	0.0100	pay 0.0050% / 4h	36m 32s	—	$1.4M	—
Short	Hyperliquid BIO	0.02884	0.0100	get 0.0013% / 1h	36m 32s	$758K	$214K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.153%Rate

Funding earned: $0
Price spread: +0.153% → +0.126%: $2.72
Slippage, 4 orders: −$47.98
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$64.27
Costs to cover: 0.670%
Break-even: never at this rate

Slippage from BingX: live order book, 7 min ago; Hyperliquid: live order book, 13 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 BingX live order book, 7 min ago	6.93 bp	19.7 bp −$20	52.7 bp −$527	583.1 bp −$58.3K	813.8 bp −$406.9K
Sell Hyperliquid live order book, 13 min ago	1.21 bp	11.1 bp −$11	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	−0.0777%	1h	0.02886	+0.205%	$11K	$9K	20x	as long as short
BloFin BIO-USDT	+0.0058%	4h	0.02874	−0.208%	$266K	$13K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02885	+0.163%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0098%	4h	0.02884	+0.139%	$13K	—	10x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02884	+0.153%	$758K	$214K	3x
Aster BIOUSDT	+0.0100%	4h	0.02883	+0.098%	$23K	$69K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02878	−0.057%	$6.1M	$6.6M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02883	+0.104%	$2.3M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02878	−0.069%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02882	+0.069%	$1.4M	$251K	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	0.02878	−0.069%	$387K	$126K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02883	+0.104%	$1.3M	$502K	50x	as long as short
BingX BIO-USDTlong	+0.0100%	4h	0.02880	long leg	—	$1.4M	—
Variational Omni BIO	+0.0100%	4h	0.02893	+0.465%	$40K	$64K	—	as long as short
KuCoin BIOUSDTM	+0.0248%	4h	0.02885	+0.174%	$548K	$128K	20x	as long as short