Funding arb · Price arb /

BIO

all BIO markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0024%/8h= +2.7% APRpaid last 24h +0.079%

Price spread now: Hyperliquid against BloFin+0.262%47s7-day average +0.165% · you sell dearer than you buy

Net, funding: paid 7d − costs−$61as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$690.693% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.085%+$9 on $10k

Price spread, last 3 days (all we have)+0.044%+$4 · spread now +0.262%, 7d avg +0.165%

Together, before fees+0.129%+ Points / potential airdropHyperliquid: Season 2 · farm board+$13 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and Hyperliquid is 0.097% dearer against BloFin than usual: you sell high and buy low: +$10 more if the spread goes back to its 7-day average of +0.165%. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BloFin BIO-USDT	0.02901	0.0076	pay 0.0038% / 4h	3h 58m	$263K	$10K	50x
Short	Hyperliquid BIO	0.02909	0.0100	get 0.0013% / 1h	58m 26s	$762K	$217K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now +0.262%Rate

Funding earned: $5.14
Price spread: +0.262% → +0.165%: $9.72
Slippage, 4 orders: −$48.3
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$54.44
Costs to cover: 0.693%
Break-even: 81.1 days

Slippage from BloFin: live order book, 8 min ago; Hyperliquid: live order book, 2 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 BloFin live order book, 8 min ago	5.19 bp	15.2 bp −$15	37.3 bp −$373	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.20 bp	12.5 bp −$13	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	−0.0224%	1h	0.02905	+0.125%	$11K	$6K	20x	as long as short
BloFin BIO-USDTlong	+0.0076%	4h	0.02901	long leg	$263K	$10K	50x
Lighter BIO	+0.0096%	1h	0.02905	+0.124%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0096%	4h	0.02904	+0.103%	$13K	—	10x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02909	+0.262%	$762K	$217K	3x
Aster BIOUSDT	+0.0100%	4h	0.02905	+0.147%	$21K	$94K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02904	+0.103%	$6.2M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02905	+0.138%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02903	+0.069%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02905	+0.138%	$1.5M	$270K	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	0.02902	+0.034%	$388K	$126K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02906	+0.172%	$561K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02905	+0.138%	$1.3M	$500K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02905	+0.138%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02908	+0.228%	$34K	$71K	—	as long as short