Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC−0.0252%/8h= −27.6% APRpaid last 24h −0.076%

Price spread now: Gate against Hyperliquid−0.205%7-day average −0.094% · you buy dearer than you sell

Net, funding: paid 7d − costs−$129as in the Funding arb table

Net, price: spread back to 7d avg − costs−$130as in the Price arb table

costs, in and out, $10k−$1191.190% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.105%−$10 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.205%, 7d avg −0.094%

Together, before fees+0.076%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$8 a day on $10k at the current rate, and Gate is 0.111% cheaper against Hyperliquid than usual: you would sell low and buy high (−$11 if the spread goes back to its 7-day average of −0.094%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.105% in total (about -5.5% 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	Hyperliquid BIO	0.02882	0.0352	pay 0.0044% / 1h	1m 14s	$752K	$207K	3x
Short	Gate BIO_USDT	0.02876	0.0100	get 0.0100% / 8h	1m 14s	$1.5M	$340K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.205%Rate

Funding earned: −$52.94
Price spread: −0.205% → −0.094%: −$11.08
Slippage, 4 orders: −$94.97
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$182.99
Costs to cover: 1.190%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 59 min ago; Gate: live order book, 1 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 Hyperliquid live order book, 59 min ago	0.69 bp	17.6 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	5.21 bp	48.9 bp −$49	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	−0.0896%	1h	0.02875	−0.230%	$11K	$6K	20x	as long as short
OKX BIO-USDT-SWAP	+0.0077%	4h	0.02874	−0.274%	$1.1M	$2.1M	20x	as long as short
BloFin BIO-USDT	+0.0087%	4h	0.02874	−0.274%	$261K	$7K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02881	−0.031%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02875	−0.239%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02876	−0.197%	$21K	$101K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02877	−0.170%	$6.1M	$7.6M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02877	−0.170%	$2.1M	$2.4M	50x	as long as short
Gate BIO_USDTshort	+0.0100%	8h	0.02876	−0.205%	$1.5M	$340K	50x
MEXC BIO_USDT	+0.0100%	4h	0.02875	−0.239%	$408K	$141K	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	0.02877	−0.170%	$544K	$118K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02876	−0.205%	$1.3M	$565K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02875	−0.239%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02873	−0.322%	$30K	$68K	—	as long as short
Hyperliquid BIOlong	+0.0352%	1h	0.02882	long leg	$752K	$207K	3x