Funding arb · Price arb /

BIO

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: Bybit against Lighter−0.205%7-day average — · you buy dearer than you sell

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

Long on Lighter Short on Bybit

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

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bybit is 0.205% cheaper against Lighter than usual: you would sell low and buy high, −$21 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter BIO	0.02874	0.0096	pay 0.0012% / 1h	41m 28s	$15K	$7K	3x
Short	Bybit BIOUSDT	0.02868	0.0100	get 0.0050% / 4h	41m 28s	$2.2M	$2.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Lighter. 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 LighterbpFee BybitbpOrdersPrice spread, now −0.205%Rate

Funding earned: $0.84
Price spread: −0.205% → 0.000%: −$20.53
Slippage, 4 orders: no order book: not counted
Fee Lighter: 0 bp × 2 orders: $0
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$30.69
Costs to cover: 0.110%
Break-even: 262.7 days

Slippage unknown: Lighter: no order-book sample; Bybit: live order book, 1 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 Bybit live order book, 1 min ago	1.74 bp	19.4 bp −$19	105.1 bp −$1,051	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	−0.1167%	1h	0.02867	−0.233%	$11K	$6K	20x	as long as short
Aster BIOUSDT	−0.0098%	4h	0.02868	−0.212%	$21K	$104K	5x	as long as short
OKX BIO-USDT-SWAP	+0.0015%	4h	0.02868	−0.205%	$1.1M	$2.2M	20x	as long as short
BloFin BIO-USDT	+0.0076%	4h	0.02864	−0.344%	$263K	$7K	50x	as long as short
Orderly PERP_BIO_USDC	+0.0094%	4h	0.02867	−0.240%	$13K	—	10x	as long as short
Lighter BIOlong	+0.0096%	1h	0.02874	long leg	$15K	$7K	3x
Hyperliquid BIO	+0.0100%	1h	0.02874	−0.014%	$750K	$223K	3x	as long as short
Binance BIOUSDT	+0.0100%	4h	0.02868	−0.205%	$6.1M	$7.4M	50x	as long as short
Bybit BIOUSDTshort	+0.0100%	4h	0.02868	−0.205%	$2.2M	$2.6M	50x
Gate BIO_USDT	+0.0100%	8h	0.02870	−0.136%	$1.4M	$290K	50x	as long as short

Show all 15 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC BIO_USDT	+0.0100%	4h	0.02867	−0.240%	$404K	$133K	20x	as long as short
KuCoin BIOUSDTM	+0.0100%	4h	0.02870	−0.136%	$563K	$116K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02869	−0.171%	$1.3M	$556K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02868	−0.205%	—	$1.3M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02865	−0.293%	$33K	$66K	—	as long as short