Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0037%/8h= +4.1% APRpaid last 24h −0.006%

Price spread now: BloFin against Lighter+0.477%540s7-day average — · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Lighter Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 5 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropLighter: Season 3 · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$1 a day on $10k at the current rate, and BloFin is 0.477% dearer against Lighter than usual: you sell high and buy low: +$48 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 540 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BIO	0.02890	0.0096	pay 0.0012% / 1h	40m 18s	$11K	$3K	3x
Short	BloFin BIO-USDT	0.02904	0.0133	get 0.0067% / 4h	2h 40m	$266K	$10K	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Lighter. 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 LighterbpFee BloFinbpOrdersPrice spread, now +0.477%Rate

Funding earned: $7.86
Price spread: +0.477% → 0.000%: $47.75
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee BloFin: 6 bp × 2 orders: −$12
Net: $43.61
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Lighter: no order-book sample; BloFin: live order book, 21 min ago. Net counts fees only.

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 Lighter no order-book sample	—	—	—	—	—
Sell BloFin live order book, 21 min ago	3.44 bp	12.5 bp −$12	32.8 bp −$328	doesn't fit	doesn't fit

Lighter: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0542%	1h	0.02890	+0.002%	$11K	$6K	20x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02885	−0.180%	$13K	—	10x	as long as short
Lighter BIOlong	+0.0096%	1h	0.02890	long leg	$11K	$3K	3x
Aster BIOUSDT	+0.0100%	4h	0.02884	−0.198%	$20K	$97K	5x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02886	−0.160%	$6.1M	$7.2M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02887	−0.111%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02888	−0.076%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02888	−0.076%	$1.4M	$301K	50x	as long as short
MEXC BIO_USDT	+0.0100%	4h	0.02885	−0.180%	$398K	$128K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02887	−0.111%	$560K	$118K	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	0.02884	−0.215%	$1.3M	$524K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02885	−0.180%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02896	+0.202%	$34K	$65K	—	as long as short
BloFin BIO-USDTshort	+0.0133%	4h	0.02904	+0.477%	$266K	$10K	50x
Hyperliquid BIO	+0.0157%	1h	0.02887	−0.100%	$754K	$221K	3x	as long as short