Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0139%/8h= −15.2% APRpaid last 24h −0.080%

Price spread now: Injective against BingX−4.472%72s7-day average — · you buy dearer than you sell

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

Long on BingX Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Injective is 4.472% cheaper against BingX than usual: you would sell low and buy high (−$447 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 72 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	BingX MOVE-USDT	0.009348	0.0172	pay 0.0086% / 4h	2h 10m	—	$6.5M	—
Short	Injective MOVE/USDC PERP	0.008930	0.0033	get 0.0004% / 1h	10m 02s	$722	$21K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −4.472%Rate

Funding earned: −$29.12
Price spread: −4.472% → 0.000%: −$447.15
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$486.29
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 11 min ago; Injective: no order-book sample. 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, 11 min ago	5.89 bp	24.7 bp −$25	99.2 bp −$992	641.2 bp −$64.1K	1047.5 bp −$523.7K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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.

MOVE on 13 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 PERPshort	+0.0033%	1h	0.008930	−4.472%	$722	$21K	12x
Hyperliquid MOVE	+0.0100%	1h	0.009318	−0.321%	$228K	$207K	3x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009343	−0.053%	$1.9M	$659K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009317	−0.332%	$980K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009340	−0.086%	$419K	$289K	25x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009350	+0.021%	$1.2M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009322	−0.278%	$828K	$425K	25x	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009323	−0.263%	$6K	$1K	—	as long as short
BingX MOVE-USDTlong	+0.0172%	4h	0.009348	long leg	—	$6.5M	—
Extended MOVE-USD	+0.0200%	1h	0.009313	−0.372%	$10K	$121K	5x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MOVEUSDT	+0.0204%	4h	0.009316	−0.347%	$2.0M	$4.2M	25x	as long as short
MEXC MOVE_USDT	+0.0204%	4h	0.009314	−0.364%	$3.8M	$219K	20x	as long as short
Aster MOVEUSDT	+0.0613%	4h	0.009390	+0.453%	$12K	$10K	5x	as long as short