Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.076%

Price spread now: Hyperliquid against MEXC+0.271%7-day average +0.179% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$540.543% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.082%+$8 on $10k

Price spread, last 4 days (all we have)−0.117%−$12 · spread now +0.271%, 7d avg +0.179%

Together, before fees−0.035%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 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 0.093% dearer against MEXC than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of +0.179%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC BIO_USDT	0.02874	0.0100	pay 0.0050% / 4h	1h 31m	$409K	$139K	20x
Short	Hyperliquid BIO	0.02882	0.0100	get 0.0013% / 1h	31m 02s	$752K	$215K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.271%Rate

Funding earned: $0
Price spread: +0.271% → +0.179%: $9.26
Slippage, 4 orders: −$41.3
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$45.05
Costs to cover: 0.543%
Break-even: never at this rate

Slippage from MEXC: live order book, 60 min ago; Hyperliquid: live order book, 39 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 MEXC live order book, 60 min ago	1.75 bp	6.8 bp −$7	24.2 bp −$242	186.0 bp −$18.6K	doesn't fit
Sell Hyperliquid live order book, 39 min ago	1.72 bp	15.3 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	−0.0540%	1h	0.02877	+0.119%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0033%	4h	0.02878	+0.145%	$21K	$102K	5x	as long as short
OKX BIO-USDT-SWAP	+0.0061%	4h	0.02874	0.000%	$1.1M	$2.1M	20x	as long as short
BloFin BIO-USDT	+0.0091%	4h	0.02874	0.000%	$262K	$7K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02880	+0.219%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02875	+0.035%	$13K	—	10x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02882	+0.271%	$752K	$215K	3x
Binance BIOUSDT	+0.0100%	4h	0.02875	+0.019%	$6.1M	$7.7M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02875	+0.035%	$2.1M	$2.5M	50x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02880	+0.209%	$1.5M	$321K	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_USDTlong	+0.0100%	4h	0.02874	long leg	$409K	$139K	20x
KuCoin BIOUSDTM	+0.0100%	4h	0.02879	+0.174%	$559K	$118K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02876	+0.070%	$1.3M	$564K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02874	0.000%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02873	−0.017%	$30K	$68K	—	as long as short