Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0786%/8h= −86.1% APRpaid last 24h −0.126%

Price spread now: Kraken Futures against Binance−0.027%7-day average — · you buy dearer than you sell

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

Long on Binance 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

Both sides work against this trade now: funding costs −$24 a day on $10k at the current rate, and Kraken Futures is 0.027% cheaper against Binance than usual: you would sell low and buy high (−$3 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance BIOUSDT	0.02868	0.0100	pay 0.0050% / 4h	3h 24m	$6.0M	$7.6M	50x
Short	Kraken Futures PF_BIOUSD	0.02867	−0.0686	pay 0.0086% / 1h	24m 44s	$11K	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.027%Rate

Funding earned: −$165.03
Price spread: −0.027% → 0.000%: −$2.66
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$187.69
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 14 min ago; 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 Binance live order book, 14 min ago	1.74 bp	15.1 bp −$15	57.6 bp −$576	doesn't fit	doesn't fit
Sell Kraken Futures no order-book sample	—	—	—	—	—

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	−0.0686%	1h	0.02867	−0.027%	$11K	$6K	20x
BloFin BIO-USDT	+0.0072%	4h	0.02865	−0.105%	$262K	$7K	50x	as long as short
Lighter BIO	+0.0096%	1h	0.02874	+0.220%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02867	−0.035%	$13K	—	10x	as long as short
Hyperliquid BIO	+0.0100%	1h	0.02874	+0.192%	$751K	$195K	3x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02868	+0.009%	$21K	$101K	5x	as long as short
Binance BIOUSDTlong	+0.0100%	4h	0.02868	long leg	$6.0M	$7.6M	50x
Bybit BIOUSDT	+0.0100%	4h	0.02869	+0.035%	$2.1M	$2.4M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02870	+0.070%	$1.1M	$2.1M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02870	+0.070%	$1.5M	$340K	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	0.02868	0.000%	$407K	$140K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02868	0.000%	$544K	$120K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02869	+0.035%	$1.3M	$556K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02868	0.000%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02862	−0.194%	$30K	$68K	—	as long as short