Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0091%/8h= +9.9% APRpaid last 24h +0.084%

Price spread now: Hyperliquid against BloFin+0.075%47s7-day average +0.167% · you sell dearer than you buy

Net, funding: paid 7d − costs−$60as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$690.693% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.092%+$9 on $10k

Price spread, last 3 days (all we have)+0.204%+$20 · spread now +0.075%, 7d avg +0.167%

Together, before fees+0.296%+ Points / potential airdropHyperliquid: Season 2 · farm board+$30 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.092% cheaper against BloFin than usual: you would sell low and buy high (spread +0.075% now, against its 7-day average of +0.167%). If the spread goes back, that is −$9 on $10k: about 3.4 days of funding at the current rate (+$3 a day). At the pace of the last 7 days (+0.092% in total) that is about 7.0 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BIO-USDT	0.02931	0.0067	pay 0.0033% / 4h	3h 06m	$267K	$10K	50x
Short	Hyperliquid BIO	0.02933	0.0158	get 0.0020% / 1h	6m 14s	$768K	$214K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.075%Rate

Funding earned: $19.03
Price spread: +0.075% → +0.167%: −$9.22
Slippage, 4 orders: −$48.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$59.49
Costs to cover: 0.693%
Break-even: 28.9 days

Slippage from BloFin: live order book, 60 min ago; Hyperliquid: live order book, 54 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 BloFin live order book, 60 min ago	5.19 bp	15.2 bp −$15	37.3 bp −$373	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 54 min ago	1.20 bp	12.5 bp −$13	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	−0.0222%	1h	0.02930	−0.020%	$11K	$6K	20x	as long as short
BloFin BIO-USDTlong	+0.0067%	4h	0.02931	long leg	$267K	$10K	50x
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02925	−0.205%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02932	+0.044%	$11K	$3K	3x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02929	−0.076%	$21K	$95K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02929	−0.068%	$6.3M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02932	+0.034%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02928	−0.102%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02930	−0.034%	$1.5M	$286K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02929	−0.068%	$400K	$130K	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	0.02931	0.000%	$567K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02931	0.000%	$1.3M	$504K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02929	−0.068%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02928	−0.087%	$34K	$68K	—	as long as short
Hyperliquid BIOshort	+0.0158%	1h	0.02933	+0.075%	$768K	$214K	3x