Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.061%

Price spread now: KuCoin against Hyperliquid+0.010%7-day average −0.088% · you sell dearer than you buy

Net, funding: paid 7d − costs−$459as in the Funding arb table

Net, price: spread back to 7d avg − costs−$442as in the Price arb table

costs, in and out, $10k−$4514.515% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.074%−$7 on $10k

Price spread, last 4 days (all we have)−0.040%−$4 · spread now +0.010%, 7d avg −0.088%

Together, before fees−0.114%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: KuCoin is 0.098% dearer against Hyperliquid than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.088%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02917	0.0100	pay 0.0013% / 1h	21m 25s	$762K	$216K	3x
Short	KuCoin BIOUSDTM	0.02917	0.0100	get 0.0050% / 4h	2h 21m	$565K	$117K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now +0.010%Rate

Funding earned: $0
Price spread: +0.010% → −0.088%: $9.8
Slippage, 4 orders: −$430.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$441.68
Costs to cover: 4.515%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 29 min ago; KuCoin: live order book, 17 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, 29 min ago	2.23 bp	20.2 bp −$20	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 17 min ago	6.90 bp	224.5 bp −$225	doesn't fit	doesn't fit	doesn't fit

BIO on 14 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	−0.0537%	1h	0.02915	−0.072%	$11K	$6K	20x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02913	−0.127%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02917	+0.017%	$15K	$7K	3x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02917	long leg	$762K	$216K	3x
Aster BIOUSDT	+0.0100%	4h	0.02914	−0.093%	$20K	$99K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02912	−0.161%	$6.2M	$7.2M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02914	−0.093%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02912	−0.161%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02916	−0.024%	$1.5M	$305K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02913	−0.127%	$402K	$129K	20x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTMshort	+0.0100%	4h	0.02917	+0.010%	$565K	$117K	20x
Bitget BIOUSDT	+0.0100%	4h	0.02913	−0.127%	$1.3M	$523K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02913	−0.127%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02922	+0.165%	$34K	$65K	—	as long as short