Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0059%/8h= −6.5% APRpaid last 24h −0.063%

Price spread now: Hyperliquid against BloFin−0.160%67s7-day average +0.002% · you buy dearer than you sell

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

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.207%+$21 on $10k

Price spread, last 3 days (all we have)+0.004%$0 · spread now −0.160%, 7d avg +0.002%

Together, before fees+0.211%+ Points / potential airdropHyperliquid: Season 2 · farm board+$21 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hyperliquid is 0.161% cheaper against BloFin than usual: you would sell low and buy high (−$16 if the spread goes back to its 7-day average of +0.002%). Swap the legs. Mind the row above: over the last 7 days funding on this pair paid +0.207%, so the current rate has only just turned against you. The two prices were read 67 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	BloFin MOVE-USDT	0.009394	0.0159	pay 0.0080% / 4h	2h 17m	$122K	$12K	75x
Short	Hyperliquid MOVE	0.009379	0.0100	get 0.0013% / 1h	17m 59s	$229K	$209K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.160%Rate

Funding earned: −$12.44
Price spread: −0.160% → +0.002%: −$16.14
Slippage, 4 orders: no order book: not counted
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$49.57
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: BloFin: live order book, 62 min ago; Hyperliquid: live order book, 65 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 BloFin live order book, 62 min ago	1.61 bp	13.8 bp −$14	41.0 bp −$410	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 65 min ago	1.07 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
Bybit MOVEUSDT	−0.0328%	4h	0.009380	−0.149%	$2.0M	$655K	25x	as long as short
Injective MOVE/USDC PERP	+0.0033%	1h	0.008930	−4.939%	$722	$21K	12x	as long as short
Hyperliquid MOVEshort	+0.0100%	1h	0.009379	−0.160%	$229K	$209K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009385	−0.091%	$11K	$12K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009381	−0.142%	$2.0M	$4.1M	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009385	−0.096%	$987K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009380	−0.149%	$423K	$337K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009380	−0.149%	$3.8M	$233K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009380	−0.149%	$1.2M	$38K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009379	−0.160%	$851K	$423K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
BingX MOVE-USDT	+0.0100%	4h	0.009377	−0.181%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009384	−0.101%	$6K	$2K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009380	−0.154%	$10K	$143K	5x	as long as short
BloFin MOVE-USDTlong	+0.0159%	4h	0.009394	long leg	$122K	$12K	75x