Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.015%

Price spread now: Bybit against KuCoin−0.070%7-day average +0.015% · you buy dearer than you sell

Net, funding: paid 7d − costs−$569as in the Funding arb table

Net, price: spread back to 7d avg − costs−$579as in the Price arb table

costs, in and out, $10k−$5705.702% of the position

Long on KuCoin Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days+0.015%+$2 on $10k

Price spread, last 4 days (all we have)+0.033%+$3 · spread now −0.070%, 7d avg +0.015%

Together, before fees+0.048%+$5 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.085% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.015%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BIOUSDTM	0.02877	0.0100	pay 0.0050% / 4h	3h 42m	$547K	$119K	20x
Short	Bybit BIOUSDT	0.02875	0.0100	get 0.0050% / 4h	3h 42m	$2.1M	$2.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against KuCoin. 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 KuCoinbpFee BybitbpOrdersPrice spread, now −0.070%Rate

Funding earned: $0
Price spread: −0.070% → +0.015%: −$8.48
Slippage, 4 orders: −$547.23
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$578.72
Costs to cover: 5.702%
Break-even: never at this rate

Slippage from KuCoin: live order book, 52 min ago; Bybit: live order book, 5 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 KuCoin live order book, 52 min ago	5.21 bp	200.2 bp −$200	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	1.74 bp	17.8 bp −$18	96.0 bp −$960	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	−0.0684%	1h	0.02874	−0.088%	$11K	$6K	20x	as long as short
BloFin BIO-USDT	+0.0072%	4h	0.02873	−0.139%	$262K	$7K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02882	+0.156%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02875	−0.070%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02876	−0.041%	$21K	$101K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02875	−0.070%	$6.1M	$7.6M	50x	as long as short
Bybit BIOUSDTshort	+0.0100%	4h	0.02875	−0.070%	$2.1M	$2.4M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02875	−0.070%	$1.1M	$2.1M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02879	+0.070%	$1.5M	$330K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02875	−0.070%	$410K	$138K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTMlong	+0.0100%	4h	0.02877	long leg	$547K	$119K	20x
Bitget BIOUSDT	+0.0100%	4h	0.02876	−0.035%	$1.3M	$565K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02875	−0.070%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02879	+0.070%	$30K	$68K	—	as long as short
Hyperliquid BIO	+0.0111%	1h	0.02881	+0.146%	$753K	$203K	3x	as long as short