Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC+0.0916%/8h= +100.3% APRpaid last 24h −0.009%

Price spread now: Orderly against Kraken Futures−0.107%7-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 Orderly

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. Orderly is 0.107% cheaper against Kraken Futures than usual: you would sell low and buy high (spread −0.107% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$11 on $10k: about 9 hours of funding at the current rate (+$27 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_BIOUSD	0.02895	−0.0819	get 0.0102% / 1h	32m 25s	$11K	$9K	20x
Short	Orderly PERP_BIO_USDC	0.02892	0.0097	get 0.0048% / 4h	3h 32m	$13K	—	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.107%Rate

Funding earned: $192.35
Price spread: −0.107% → 0.000%: −$10.72
Slippage, 4 orders: no order book: not counted
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: $165.63
Costs to cover: 0.160%
Break-even: 1.0 days

Slippage unknown: Kraken Futures: no order-book sample; Orderly: 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 Kraken Futures no order-book sample	—	—	—	—	—
Sell Orderly no order-book sample	—	—	—	—	—

Kraken Futures and Orderly: 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_BIOUSDlong	−0.0819%	1h	0.02895	long leg	$11K	$9K	20x
BloFin BIO-USDT	+0.0043%	4h	0.02895	−0.004%	$264K	$13K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02903	+0.283%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDCshort	+0.0097%	4h	0.02892	−0.107%	$13K	—	10x
Hyperliquid BIO	+0.0100%	1h	0.02901	+0.221%	$761K	$218K	3x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02898	+0.107%	$20K	$95K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02896	+0.031%	$6.2M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02899	+0.135%	$2.3M	$2.7M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02899	+0.135%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02898	+0.100%	$1.5M	$265K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BIO_USDT	+0.0100%	4h	0.02897	+0.066%	$387K	$127K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02896	+0.031%	$1.3M	$530K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02899	+0.135%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02900	+0.153%	$40K	$63K	—	as long as short
KuCoin BIOUSDTM	+0.0112%	4h	0.02901	+0.204%	$556K	$127K	20x	as long as short