Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.061%

Price spread now: Hyperliquid against KuCoin−0.031%7-day average +0.083% · you buy dearer than you sell

Net, funding: paid 7d − costs−$579as in the Funding arb table

Net, price: spread back to 7d avg − costs−$598as in the Price arb table

costs, in and out, $10k−$5865.861% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.074%+$7 on $10k

Price spread, last 4 days (all we have)+0.032%+$3 · spread now −0.031%, 7d avg +0.083%

Together, before fees+0.106%+ Points / potential airdropHyperliquid: Season 2 · farm board+$11 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: Hyperliquid is 0.115% cheaper against KuCoin than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.083%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin BIOUSDTM	0.02861	0.0100	pay 0.0050% / 4h	2h 31m	$554K	$117K	20x
Short	Hyperliquid BIO	0.02860	0.0100	get 0.0013% / 1h	31m 38s	$746K	$215K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid 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 HyperliquidbpOrdersPrice spread, now −0.031%Rate

Funding earned: $0
Price spread: −0.031% → +0.083%: −$11.49
Slippage, 4 orders: −$565.14
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$597.63
Costs to cover: 5.861%
Break-even: never at this rate

Slippage from KuCoin: live order book, 27 min ago; Hyperliquid: live order book, 48 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, 27 min ago	8.66 bp	234.8 bp −$235	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 48 min ago	0.69 bp	15.4 bp −$15	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	−0.0574%	1h	0.02858	−0.118%	$11K	$6K	20x	as long as short
Aster BIOUSDT	−0.0009%	4h	0.02859	−0.073%	$21K	$101K	5x	as long as short
OKX BIO-USDT-SWAP	+0.0014%	4h	0.02854	−0.245%	$1.1M	$2.1M	20x	as long as short
Lighter BIO	+0.0096%	1h	0.02863	+0.084%	$15K	$7K	3x	as long as short
BloFin BIO-USDT	+0.0098%	4h	0.02854	−0.245%	$262K	$7K	50x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02858	−0.105%	$13K	—	10x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02860	−0.031%	$746K	$215K	3x
Binance BIOUSDT	+0.0100%	4h	0.02858	−0.105%	$6.0M	$7.5M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02857	−0.140%	$2.1M	$2.5M	50x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02860	−0.035%	$1.5M	$313K	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	0.02857	−0.140%	$405K	$137K	20x	as long as short
KuCoin BIOUSDTMlong	+0.0100%	4h	0.02861	long leg	$554K	$117K	20x
Bitget BIOUSDT	+0.0100%	4h	0.02856	−0.175%	$1.3M	$546K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02858	−0.105%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02869	+0.264%	$30K	$68K	—	as long as short