Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC+0.0989%/8h= +108.3% APRpaid last 24h +0.146%

Price spread now: Binance against Kraken Futures−0.027%54s7-day average — · you buy dearer than you sell

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

Long on Kraken Futures Short on Binance

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

Funding pays, the price is against you. Binance is 0.027% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.027% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 2 hours of funding at the current rate (+$30 a day). The two prices were read 54 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	Kraken Futures PF_BIOUSD	0.02876	−0.0889	get 0.0111% / 1h	49m 28s	$11K	$6K	20x
Short	Binance BIOUSDT	0.02875	0.0100	get 0.0050% / 4h	1h 49m	$6.1M	$7.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Kraken Futures. 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 Kraken FuturesbpFee BinancebpOrdersPrice spread, now −0.027%Rate

Funding earned: $207.71
Price spread: −0.027% → 0.000%: −$2.7
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: $185.01
Costs to cover: 0.200%
Break-even: 0.8 days

Slippage unknown: Kraken Futures: no order-book sample; Binance: live order book, 12 min ago. 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Binance live order book, 12 min ago	1.73 bp	17.4 bp −$17	63.6 bp −$636	doesn't fit	doesn't fit

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 exchanges

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_BIOUSDlong	−0.0889%	1h	0.02876	long leg	$11K	$6K	20x
Lighter BIO	+0.0096%	1h	0.02882	+0.213%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0098%	4h	0.02875	−0.027%	$13K	—	10x	as long as short
Hyperliquid BIO	+0.0100%	1h	0.02882	+0.199%	$755K	$174K	3x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02877	+0.029%	$26K	$91K	5x	as long as short
Binance BIOUSDTshort	+0.0100%	4h	0.02875	−0.027%	$6.1M	$7.1M	50x
Bybit BIOUSDT	+0.0100%	4h	0.02875	−0.027%	$2.1M	$2.1M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02871	−0.166%	$1.1M	$1.9M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02879	+0.112%	$1.5M	$326K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02875	−0.027%	$389K	$137K	20x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02877	+0.043%	$523K	$125K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02876	+0.008%	$1.3M	$522K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02876	+0.008%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02874	−0.052%	$27K	$69K	—	as long as short
BloFin BIO-USDT	+0.0111%	4h	0.02878	+0.077%	$267K	$4K	50x	as long as short