Funding arb · Price arb /

MOVE

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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 −0.060%

Price spread now: Hyperliquid against BingX+0.118%7-day average −0.005% · you sell dearer than you buy

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

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 4 days (all we have)−0.095%−$10 · spread now +0.118%, 7d avg −0.005%

Together, before fees−0.160%+ Points / potential airdropHyperliquid: Season 2 · farm board−$16 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 0.123% dearer against BingX than usual: you sell high and buy low, +$12 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MOVE-USDT	0.009324	0.0100	pay 0.0050% / 4h	2h 52m	—	$6.5M	—
Short	Hyperliquid MOVE	0.009335	0.0100	get 0.0013% / 1h	52m 48s	$228K	$208K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.118%Rate

Funding earned: $0
Price spread: +0.118% → −0.005%: $12.27
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$6.73
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 13 min ago; Hyperliquid: live order book, 57 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 BingX live order book, 13 min ago	5.84 bp	19.6 bp −$20	70.5 bp −$705	592.1 bp −$59.2K	941.5 bp −$470.7K
Sell Hyperliquid live order book, 57 min ago	0.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

MOVE 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
Injective MOVE/USDC PERP	+0.0033%	1h	0.008930	−4.226%	$722	$21K	12x	as long as short
Hyperliquid MOVEshort	+0.0100%	1h	0.009335	+0.118%	$228K	$208K	3x
Binance MOVEUSDT	+0.0100%	4h	0.009334	+0.108%	$2.0M	$4.2M	25x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009323	−0.011%	$1.9M	$667K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009339	+0.161%	$981K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009310	−0.150%	$418K	$280K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009335	+0.118%	$3.8M	$212K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009310	−0.150%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009321	−0.032%	$828K	$429K	25x	as long as short
BingX MOVE-USDTlong	+0.0100%	4h	0.009324	long leg	—	$6.5M	—

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MOVE	+0.0100%	4h	0.009284	−0.434%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009330	+0.063%	$11K	$123K	5x	as long as short
BloFin MOVE-USDT	+0.0125%	4h	0.009326	+0.021%	$122K	$10K	75x	as long as short
Aster MOVEUSDT	+0.0416%	4h	0.009306	−0.188%	$12K	$10K	5x	as long as short