Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Lighter against Bybit+0.049%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 Lighter

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Lighter is 0.049% dearer against Bybit than usual: you sell high and buy low, +$5 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit BIOUSDT	0.02865	0.0100	pay 0.0050% / 4h	2h 03m	$2.2M	$2.6M	50x
Short	Lighter BIO	0.02866	0.0096	get 0.0012% / 1h	3m 53s	$11K	$3K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter against Bybit. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 LighterbpOrdersPrice spread, now +0.049%Rate

Funding earned: −$0.84
Price spread: +0.049% → 0.000%: $4.89
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Lighter: 0 bp × 2 orders: $0
Net: −$6.95
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; Lighter: 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, 3 min ago	3.49 bp	20.5 bp −$21	124.4 bp −$1,244	doesn't fit	doesn't fit
Sell Lighter no order-book sample	—	—	—	—	—

Lighter: 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_BIOUSD	−0.0670%	1h	0.02866	+0.047%	$11K	$6K	20x	as long as short
Lighter BIOshort	+0.0096%	1h	0.02866	+0.049%	$11K	$3K	3x
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02862	−0.105%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02864	−0.032%	$19K	$93K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02863	−0.070%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDTlong	+0.0100%	4h	0.02865	long leg	$2.2M	$2.6M	50x
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02865	0.000%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02863	−0.070%	$1.4M	$266K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02863	−0.070%	$375K	$128K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02867	+0.070%	$546K	$123K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget BIOUSDT	+0.0100%	4h	0.02864	−0.035%	$1.3M	$534K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02863	−0.070%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02864	−0.022%	$33K	$71K	—	as long as short
BloFin BIO-USDT	+0.0154%	4h	0.02864	−0.035%	$262K	$9K	50x	as long as short
Hyperliquid BIO	+0.0674%	1h	0.02870	+0.161%	$751K	$217K	3x	as long as short