Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.075%

Price spread now: Hyperliquid against Binance+0.284%7-day average +0.178% · you sell dearer than you buy

Net, funding: paid 7d − costs−$59as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.084%+$8 on $10k

Price spread, last 4 days (all we have)−0.148%−$15 · spread now +0.284%, 7d avg +0.178%

Together, before fees−0.065%+ Points / potential airdropHyperliquid: Season 2 · farm board−$6 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 0.106% dearer against Binance than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.178%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BIOUSDT	0.02887	0.0100	pay 0.0050% / 4h	1h 57m	$6.1M	$7.1M	50x
Short	Hyperliquid BIO	0.02896	0.0100	get 0.0013% / 1h	57m 40s	$758K	$176K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.284%Rate

Funding earned: $0
Price spread: +0.284% → +0.178%: $10.6
Slippage, 4 orders: −$48.42
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$56.82
Costs to cover: 0.674%
Break-even: never at this rate

Slippage from Binance: live order book, 4 min ago; Hyperliquid: live order book, 50 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 Binance live order book, 4 min ago	1.73 bp	17.7 bp −$18	61.6 bp −$616	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 50 min ago	1.74 bp	17.8 bp −$18	doesn't fit	doesn't fit	doesn't fit

BIO on 15 exchanges

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	−0.0885%	1h	0.02891	+0.120%	$11K	$6K	20x	as long as short
BloFin BIO-USDT	+0.0078%	4h	0.02884	−0.114%	$266K	$4K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02894	+0.232%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0098%	4h	0.02891	+0.128%	$13K	—	10x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02896	+0.284%	$758K	$176K	3x
Aster BIOUSDT	+0.0100%	4h	0.02893	+0.202%	$26K	$91K	5x	as long as short
Binance BIOUSDTlong	+0.0100%	4h	0.02887	long leg	$6.1M	$7.1M	50x
Bybit BIOUSDT	+0.0100%	4h	0.02892	+0.163%	$2.1M	$2.2M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02886	−0.045%	$1.1M	$1.9M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02894	+0.232%	$1.5M	$325K	50x	as long as short

Show all 15 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BIO_USDT	+0.0100%	4h	0.02888	+0.024%	$391K	$137K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02892	+0.163%	$523K	$125K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02892	+0.163%	$1.3M	$526K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02890	+0.094%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02890	+0.105%	$27K	$71K	—	as long as short