Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0215%/8h= −23.6% APRpaid last 24h −0.074%

Price spread now: Gate against Hyperliquid−0.162%7-day average −0.100% · you buy dearer than you sell

Net, funding: paid 7d − costs−$143as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$1331.331% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.101%−$10 on $10k

Price spread, last 4 days (all we have)+0.181%+$18 · spread now −0.162%, 7d avg −0.100%

Together, before fees+0.079%+ Points / potential airdropHyperliquid: Season 2 · farm board+$8 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and Gate is 0.062% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.100%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.101% in total (about -5.3% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02898	0.0315	pay 0.0039% / 1h	28m 38s	$757K	$220K	3x
Short	Gate BIO_USDT	0.02893	0.0100	get 0.0100% / 8h	28m 38s	$1.5M	$276K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Hyperliquid. 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 HyperliquidbpFee GatebpOrdersPrice spread, now −0.162%Rate

Funding earned: −$45.17
Price spread: −0.162% → −0.100%: −$6.24
Slippage, 4 orders: −$109.1
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$184.51
Costs to cover: 1.331%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 41 min ago; Gate: live order book, 4 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 Hyperliquid live order book, 41 min ago	1.56 bp	13.1 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 4 min ago	3.46 bp	53.7 bp −$54	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
BloFin BIO-USDT	+0.0046%	4h	0.02890	−0.266%	$264K	$10K	50x	as long as short
Kraken Futures PF_BIOUSD	+0.0060%	1h	0.02894	−0.136%	$11K	$6K	20x	as long as short
Lighter BIO	+0.0096%	1h	0.02893	−0.152%	$11K	$3K	3x	as long as short
Orderly PERP_BIO_USDC	+0.0097%	4h	0.02889	−0.300%	$13K	—	10x	as long as short
Aster BIOUSDT	+0.0100%	4h	0.02891	−0.231%	$19K	$96K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02890	−0.251%	$6.1M	$6.9M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02894	−0.128%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02892	−0.197%	$1.2M	$2.3M	20x	as long as short
Gate BIO_USDTshort	+0.0100%	8h	0.02893	−0.162%	$1.5M	$276K	50x
MEXC BIO_USDT	+0.0100%	4h	0.02890	−0.266%	$389K	$126K	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	0.02896	−0.059%	$560K	$119K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02893	−0.162%	$1.3M	$524K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02891	−0.231%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02891	−0.243%	$33K	$71K	—	as long as short
Hyperliquid BIOlong	+0.0315%	1h	0.02898	long leg	$757K	$220K	3x