Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.076%

Price spread now: MEXC against Hyperliquid−0.217%7-day average −0.180% · you buy dearer than you sell

Net, funding: paid 7d − costs−$57as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$490.488% of the position

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$9 on $10k

Price spread, last 4 days (all we have)+0.137%+$14 · spread now −0.217%, 7d avg −0.180%

Together, before fees+0.051%+ Points / potential airdropHyperliquid: Season 2 · farm board+$5 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: MEXC is 0.037% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.180%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid BIO	0.02900	0.0100	pay 0.0013% / 1h	36m 24s	$756K	$220K	3x
Short	MEXC BIO_USDT	0.02894	0.0100	get 0.0050% / 4h	1h 36m	$403K	$130K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.217%Rate

Funding earned: $0
Price spread: −0.217% → −0.180%: −$3.68
Slippage, 4 orders: −$35.76
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$52.44
Costs to cover: 0.488%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 4 min ago; MEXC: live order book, 9 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, 4 min ago	0.86 bp	13.9 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 9 min ago	1.72 bp	8.9 bp −$9	32.7 bp −$327	213.7 bp −$21.4K	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	−0.0633%	1h	0.02892	−0.296%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0030%	4h	0.02893	−0.252%	$21K	$103K	5x	as long as short
Orderly PERP_BIO_USDC	+0.0093%	4h	0.02898	−0.079%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02898	−0.072%	$15K	$7K	3x	as long as short
Hyperliquid BIOlong	+0.0100%	1h	0.02900	long leg	$756K	$220K	3x
Binance BIOUSDT	+0.0100%	4h	0.02897	−0.114%	$6.1M	$7.2M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02898	−0.079%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02896	−0.148%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02899	−0.045%	$1.5M	$287K	50x	as long as short
MEXC BIO_USDTshort	+0.0100%	4h	0.02894	−0.217%	$403K	$130K	20x

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin BIOUSDTM	+0.0100%	4h	0.02898	−0.079%	$568K	$119K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02894	−0.217%	$1.3M	$544K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02896	−0.148%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02899	−0.047%	$33K	$66K	—	as long as short
BloFin BIO-USDT	+0.0119%	4h	0.02889	−0.390%	$263K	$7K	50x	as long as short