Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0109%/8h= −11.9% APRpaid last 24h −0.080%

Price spread now: Aster against Hyperliquid−0.039%7-day average −0.166% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$790.787% of the position

Long on Hyperliquid Short on Aster

What this pair did over the last

the charts below follow

Funding, last 6 days (all we have)−0.102%−$10 on $10k

Price spread, last 4 days (all we have)−0.032%−$3 · spread now −0.039%, 7d avg −0.166%

Together, before fees−0.134%+ Points / potential airdropHyperliquid: Season 2 · Aster: Stage 5 · farm board−$13 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Aster is 0.126% dearer against Hyperliquid than usual: you sell high and buy low (spread −0.039% now, against its 7-day average of −0.166%): +$13 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 3.9 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02909	0.0100	pay 0.0013% / 1h	32m 28s	$758K	$216K	3x
Short	Aster BIOUSDT	0.02908	−0.0009	pay 0.0004% / 4h	3h 32m	$21K	$102K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Aster against Hyperliquid. 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 HyperliquidbpFee AsterbpOrdersPrice spread, now −0.039%Rate

Funding earned: −$22.81
Price spread: −0.039% → −0.166%: $12.62
Slippage, 4 orders: −$61.75
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Aster: 4 bp × 2 orders: −$8
Net: −$88.94
Costs to cover: 0.787%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 58 min ago; Aster: live order book, just now.

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 Hyperliquid live order book, 58 min ago	2.24 bp	20.6 bp −$21	doesn't fit	doesn't fit	doesn't fit
Sell Aster live order book, just now	6.89 bp	23.6 bp −$24	470.6 bp −$4,706	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	−0.0461%	1h	0.02906	−0.115%	$11K	$6K	20x	as long as short
Aster BIOUSDTshort	−0.0009%	4h	0.02908	−0.039%	$21K	$102K	5x
Lighter BIO	+0.0096%	1h	0.02911	+0.079%	$15K	$7K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02905	−0.134%	$13K	—	10x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02909	long leg	$758K	$216K	3x
Binance BIOUSDT	+0.0100%	4h	0.02903	−0.203%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02906	−0.100%	$2.2M	$2.5M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02903	−0.203%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02910	+0.038%	$1.5M	$310K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02903	−0.203%	$407K	$134K	20x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02910	+0.038%	$563K	$116K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02907	−0.065%	$1.3M	$543K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02902	−0.237%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02916	+0.261%	$34K	$65K	—	as long as short
BloFin BIO-USDT	+0.0108%	4h	0.02904	−0.168%	$264K	$7K	50x	as long as short