Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0640%/8h= −70.1% APRpaid last 24h −0.106%

Price spread now: Kraken Futures against Bybit+0.044%7-day average — · you sell dearer than you buy

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

Long on Bybit 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 pays, funding is against you. Kraken Futures is 0.044% dearer against Bybit than usual: you sell high and buy low (spread +0.044% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 6 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BIOUSDT	0.02873	0.0100	pay 0.0050% / 4h	1h 00m	$2.1M	$2.4M	50x
Short	Kraken Futures PF_BIOUSD	0.02874	−0.0540	pay 0.0068% / 1h	0m 52s	$11K	$6K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures against Bybit. 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 BybitbpFee Kraken FuturesbpOrdersPrice spread, now +0.044%Rate

Funding earned: −$134.44
Price spread: +0.044% → 0.000%: $4.41
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$151.03
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 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 Bybit live order book, 1 min ago	3.48 bp	17.3 bp −$17	101.6 bp −$1,016	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	−0.0540%	1h	0.02874	+0.044%	$11K	$6K	20x
BloFin BIO-USDT	+0.0074%	4h	0.02873	0.000%	$262K	$7K	50x	as long as short
Aster BIOUSDT	+0.0079%	4h	0.02874	+0.037%	$21K	$102K	5x	as long as short
Lighter BIO	+0.0096%	1h	0.02880	+0.240%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0099%	4h	0.02873	0.000%	$13K	—	10x	as long as short
Hyperliquid BIO	+0.0100%	1h	0.02878	+0.160%	$750K	$214K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02872	−0.035%	$6.1M	$7.6M	50x	as long as short
Bybit BIOUSDTlong	+0.0100%	4h	0.02873	long leg	$2.1M	$2.4M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02868	−0.174%	$1.1M	$2.1M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02874	+0.035%	$1.5M	$343K	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	0.02871	−0.070%	$409K	$141K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02876	+0.104%	$553K	$117K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02874	+0.035%	$1.3M	$551K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02873	0.000%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02872	−0.035%	$30K	$68K	—	as long as short