Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0048%/8h= +5.3% APRpaid last 24h −0.005%

Price spread now: BloFin against Gate−0.207%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$133as in the Funding arb table

Net, price: spread back to 7d avg − costs−$150as in the Price arb table

costs, in and out, $10k−$1351.350% of the position

Long on Gate Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.016%+$2 on $10k

Price spread, last 3 days (all we have)+0.070%+$7 · spread now −0.207%, 7d avg −0.059%

Together, before fees+0.086%+$9 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.148% cheaper against Gate than usual: you would sell low and buy high (spread −0.207% now, against its 7-day average of −0.059%). If the spread goes back, that is −$15 on $10k: about 10 days of funding at the current rate (+$1 a day). At the pace of the last 7 days (+0.016% in total) that is about 2 months.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate BIO_USDT	0.02902	0.0100	pay 0.0100% / 8h	43m 00s	$1.4M	$269K	50x
Short	BloFin BIO-USDT	0.02896	0.0148	get 0.0074% / 4h	43m 00s	$262K	$10K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Gate. 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 GatebpFee BloFinbpOrdersPrice spread, now −0.207%Rate

Funding earned: $10.16
Price spread: −0.207% → −0.059%: −$14.77
Slippage, 4 orders: −$108.01
Fee Gate: 7.5 bp × 2 orders: −$15
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$139.62
Costs to cover: 1.350%
Break-even: 103.2 days

Slippage from Gate: live order book, 4 min ago; BloFin: live order book, 28 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 Gate live order book, 4 min ago	3.44 bp	51.1 bp −$51	16460.9 bp −$164.6K	doesn't fit	doesn't fit
Sell BloFin live order book, 28 min ago	1.74 bp	18.5 bp −$18	35.0 bp −$350	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	+0.0060%	1h	0.02898	−0.126%	$11K	$6K	20x	as long as short
Lighter BIO	+0.0096%	1h	0.02900	−0.052%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02897	−0.172%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02899	−0.088%	$19K	$95K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02896	−0.207%	$6.1M	$6.8M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02899	−0.103%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02897	−0.172%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDTlong	+0.0100%	8h	0.02902	long leg	$1.4M	$269K	50x
MEXC BIO_USDT	+0.0100%	4h	0.02896	−0.207%	$388K	$126K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02904	+0.069%	$561K	$119K	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	0.02899	−0.103%	$1.3M	$522K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02900	−0.069%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02907	+0.177%	$34K	$71K	—	as long as short
BloFin BIO-USDTshort	+0.0148%	4h	0.02896	−0.207%	$262K	$10K	50x
Hyperliquid BIO	+0.0227%	1h	0.02904	+0.069%	$758K	$220K	3x	as long as short