Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0392%/8h= +43.0% APRpaid last 24h +0.070%

Price spread now: Hyperliquid against Bitget+0.173%7-day average +0.172% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$910.913% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.051%+$5 on $10k

Price spread, last 4 days (all we have)−0.080%−$8 · spread now +0.173%, 7d avg +0.172%

Together, before fees−0.029%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.172%, so right now this pair is about funding alone: +$12 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.051% in total (about 2.7% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget BIOUSDT	0.02884	0.0100	pay 0.0050% / 4h	1h 42m	$1.3M	$528K	50x
Short	Hyperliquid BIO	0.02889	0.0492	get 0.0062% / 1h	42m 21s	$752K	$219K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.173%Rate

Funding earned: $82.41
Price spread: +0.173% → +0.172%: $0.16
Slippage, 4 orders: −$70.33
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$8.75
Costs to cover: 0.913%
Break-even: 7.7 days

Slippage from Bitget: live order book, 4 min ago; Hyperliquid: live order book, 38 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 Bitget live order book, 4 min ago	1.74 bp	32.5 bp −$33	81.0 bp −$810	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 38 min ago	1.21 bp	15.8 bp −$16	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
Lighter BIO	+0.0096%	1h	0.02884	+0.007%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02884	0.000%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02883	−0.025%	$19K	$92K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02883	−0.025%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02887	+0.104%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02886	+0.069%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02883	−0.035%	$1.4M	$265K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02883	−0.035%	$386K	$126K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02888	+0.139%	$556K	$126K	20x	as long as short
Bitget BIOUSDTlong	+0.0100%	4h	0.02884	long leg	$1.3M	$528K	50x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX BIO-USDT	+0.0100%	4h	0.02883	−0.035%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02877	−0.235%	$33K	$71K	—	as long as short
BloFin BIO-USDT	+0.0117%	4h	0.02877	−0.243%	$262K	$9K	50x	as long as short
Kraken Futures PF_BIOUSD	+0.0168%	1h	0.02888	+0.124%	$11K	$6K	20x	as long as short
Hyperliquid BIOshort	+0.0492%	1h	0.02889	+0.173%	$752K	$219K	3x