Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0664%/8h= −72.7% APRpaid last 24h −0.091%

Price spread now: Kraken Futures against Orderly+0.014%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on Kraken Futures

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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$20 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_BIO_USDC	0.02902	0.0099	pay 0.0050% / 4h	2h 06m	$13K	—	10x
Short	Kraken Futures PF_BIOUSD	0.02902	−0.0565	pay 0.0071% / 1h	6m 33s	$11K	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Orderly. 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 OrderlybpFee Kraken FuturesbpOrdersPrice spread, now +0.014%Rate

Funding earned: −$139.47
Price spread: +0.014% → 0.000%: $1.41
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$154.06
Costs to cover: 0.160%
Break-even: never at this rate

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

Orderly and Kraken Futures: 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_BIOUSDshort	−0.0565%	1h	0.02902	+0.014%	$11K	$6K	20x
BloFin BIO-USDT	+0.0045%	4h	0.02900	−0.069%	$258K	$7K	50x	as long as short
Aster BIOUSDT	+0.0048%	4h	0.02901	−0.027%	$21K	$102K	5x	as long as short
Lighter BIO	+0.0096%	1h	0.02908	+0.200%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDClong	+0.0099%	4h	0.02902	long leg	$13K	—	10x
Hyperliquid BIO	+0.0100%	1h	0.02907	+0.172%	$757K	$215K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02902	−0.010%	$6.1M	$7.6M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02902	0.000%	$2.1M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02901	−0.034%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02905	+0.103%	$1.5M	$323K	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	0.02901	−0.034%	$410K	$138K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02905	+0.103%	$564K	$118K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02903	+0.034%	$1.3M	$549K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02902	0.000%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02895	−0.224%	$31K	$68K	—	as long as short