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: Hyperliquid against MEXC+0.114%7-day average +0.180% · you sell dearer than you buy

Net, funding: paid 7d − costs−$40as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

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

Long on MEXC Short on Hyperliquid

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)−0.033%−$3 · spread now +0.114%, 7d avg +0.180%

Together, before fees+0.052%+ 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: Hyperliquid is 0.066% cheaper against MEXC than usual: you would sell low and buy high, −$7 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	MEXC BIO_USDT	0.02897	0.0100	pay 0.0050% / 4h	1h 36m	$406K	$131K	20x
Short	Hyperliquid BIO	0.02900	0.0100	get 0.0013% / 1h	36m 16s	$756K	$220K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.180%: −$6.65
Slippage, 4 orders: −$35.76
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$55.4
Costs to cover: 0.488%
Break-even: never at this rate

Slippage from MEXC: live order book, 9 min ago; Hyperliquid: 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 MEXC live order book, 9 min ago	1.72 bp	9.6 bp −$10	30.6 bp −$306	209.4 bp −$20.9K	285.2 bp −$142.6K
Sell Hyperliquid live order book, 4 min ago	0.86 bp	16.4 bp −$16	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
Kraken Futures PF_BIOUSD	−0.0631%	1h	0.02899	+0.075%	$11K	$6K	20x	as long as short
Aster BIOUSDT	+0.0030%	4h	0.02893	−0.138%	$21K	$103K	5x	as long as short
Orderly PERP_BIO_USDC	+0.0093%	4h	0.02898	+0.035%	$13K	—	10x	as long as short
Lighter BIO	+0.0096%	1h	0.02904	+0.255%	$15K	$7K	3x	as long as short
Hyperliquid BIOshort	+0.0100%	1h	0.02900	+0.114%	$756K	$220K	3x
Binance BIOUSDT	+0.0100%	4h	0.02898	+0.035%	$6.1M	$7.2M	50x	as long as short
Bybit BIOUSDT	+0.0100%	4h	0.02898	+0.035%	$2.2M	$2.6M	50x	as long as short
OKX BIO-USDT-SWAP	+0.0100%	4h	0.02897	0.000%	$1.2M	$2.2M	20x	as long as short
Gate BIO_USDT	+0.0100%	8h	0.02899	+0.069%	$1.5M	$287K	50x	as long as short
MEXC BIO_USDTlong	+0.0100%	4h	0.02897	long leg	$406K	$131K	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	+0.035%	$568K	$119K	20x	as long as short
Bitget BIOUSDT	+0.0100%	4h	0.02898	+0.035%	$1.3M	$544K	50x	as long as short
BingX BIO-USDT	+0.0100%	4h	0.02896	−0.035%	—	$1.4M	—	as long as short
Variational Omni BIO	+0.0100%	4h	0.02899	+0.067%	$33K	$66K	—	as long as short
BloFin BIO-USDT	+0.0119%	4h	0.02889	−0.276%	$263K	$7K	50x	as long as short