Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Gate against Lighter−0.118%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Gate

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Gate is 0.118% cheaper against Lighter than usual: you would sell low and buy high, −$12 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BIO	0.02869	0.0096	pay 0.0012% / 1h	22m 02s	$15K	$7K	3x
Short	Gate BIO_USDT	0.02866	0.0100	get 0.0100% / 8h	22m 02s	$1.5M	$340K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Lighter. 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 LighterbpFee GatebpOrdersPrice spread, now −0.118%Rate

Funding earned: $0.84
Price spread: −0.118% → 0.000%: −$11.85
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$26.01
Costs to cover: 0.150%
Break-even: 223.7 days

Slippage unknown: Lighter: no order-book sample; Gate: live order book, just now. 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 Lighter no order-book sample	—	—	—	—	—
Sell Gate live order book, just now	5.23 bp	56.1 bp −$56	doesn't fit	doesn't fit	doesn't fit

Lighter: 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_BIOUSD	−0.0900%	1h	0.02863	−0.206%	$11K	$6K	20x	as long as short
OKX BIO-USDT-SWAP	+0.0051%	4h	0.02862	−0.258%	$1.1M	$2.1M	20x	as long as short
BloFin BIO-USDT	+0.0066%	4h	0.02862	−0.258%	$262K	$7K	50x	as long as short
Lighter BIOlong	+0.0096%	1h	0.02869	long leg	$15K	$7K	3x
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02862	−0.258%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02864	−0.204%	$21K	$101K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02862	−0.242%	$6.0M	$7.6M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02864	−0.188%	$2.1M	$2.4M	50x	as long as short
Gate BIO_USDTshort	+0.0100%	8h	0.02866	−0.118%	$1.5M	$340K	50x
MEXC BIO_USDT	+0.0100%	4h	0.02862	−0.258%	$408K	$140K	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	0.02866	−0.118%	$542K	$118K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02865	−0.153%	$1.3M	$558K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02863	−0.223%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02863	−0.224%	$30K	$68K	—	as long as short
Hyperliquid BIO	+0.0317%	1h	0.02869	−0.014%	$748K	$210K	3x	as long as short