Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0665%/8h= −72.8% APRpaid last 24h −0.098%

Price spread now: Kraken Futures against Bybit+0.081%7-day average — · you sell dearer than you buy

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

Long on Bybit Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

The price spread pays, funding is against you. Kraken Futures is 0.081% dearer against Bybit than usual: you sell high and buy low (spread +0.081% now, against zero (this spread has no 7-day history yet)): +$8 on $10k if it goes back. Holding the pair costs −$20 a day in funding at the current rate, which eats that in about 10 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BIOUSDT	0.02901	0.0100	pay 0.0050% / 4h	2h 01m	$2.1M	$2.5M	50x
Short	Kraken Futures PF_BIOUSD	0.02903	−0.0565	pay 0.0071% / 1h	1m 08s	$11K	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.081%Rate

Funding earned: −$139.58
Price spread: +0.081% → 0.000%: $8.1
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$152.49
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Kraken Futures: 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 Bybit live order book, 1 min ago	3.45 bp	20.2 bp −$20	111.0 bp −$1,110	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

Kraken Futures: 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_BIOUSDshort	−0.0565%	1h	0.02903	+0.081%	$11K	$6K	20x
Aster BIOUSDT	+0.0064%	4h	0.02901	+0.014%	$21K	$102K	5x	as long as short
Lighter BIO	+0.0096%	1h	0.02909	+0.290%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02903	+0.069%	$13K	—	10x	as long as short
Hyperliquid BIO	+0.0100%	1h	0.02907	+0.190%	$757K	$216K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02901	0.000%	$6.1M	$7.6M	50x	as long as short
Bybit BIOUSDTlong	+0.0100%	4h	0.02901	long leg	$2.1M	$2.5M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02901	0.000%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02905	+0.138%	$1.5M	$329K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02902	+0.034%	$410K	$139K	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	0.02906	+0.172%	$565K	$118K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02903	+0.069%	$1.3M	$549K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02902	+0.034%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02900	−0.017%	$31K	$68K	—	as long as short
BloFin BIO-USDT	+0.0111%	4h	0.02903	+0.069%	$262K	$7K	50x	as long as short