Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0060%/8h= +6.6% APRpaid last 24h +0.061%

Price spread now: Extended against Bybit−0.035%7-day average −0.084% · you buy dearer than you sell

Net, funding: paid 7d − costs−$141as in the Funding arb table

Net, price: spread back to 7d avg − costs−$161as in the Price arb table

costs, in and out, $10k−$1661.657% of the position

Long on Bybit Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.247%+$25 on $10k

Price spread, last 4 days (all we have)−0.037%−$4 · spread now −0.035%, 7d avg −0.084%

Together, before fees+0.210%+ Points / potential airdropExtended: Active · farm board+$21 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Extended is 0.049% dearer against Bybit than usual: you sell high and buy low: +$5 more if the spread goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MOVEUSDT	0.009290	0.0100	pay 0.0050% / 4h	2h 08m	$1.9M	$660K	25x
Short	Extended MOVE-USD	0.009287	0.0160	get 0.0020% / 1h	8m 43s	$10K	$121K	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended against Bybit. 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 BybitbpFee ExtendedbpOrdersPrice spread, now −0.035%Rate

Funding earned: $12.6
Price spread: −0.035% → −0.084%: $4.88
Slippage, 4 orders: −$149.73
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Extended: 2.5 bp × 2 orders: −$5
Net: −$148.25
Costs to cover: 1.657%
Break-even: 89.4 days

Slippage from Bybit: live order book, 3 min ago; Extended: live order book, 57 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 Bybit live order book, 3 min ago	5.36 bp	50.5 bp −$51	173.0 bp −$1,730	doesn't fit	doesn't fit
Sell Extended live order book, 57 min ago	3.19 bp	31.3 bp −$31	doesn't fit	doesn't fit	doesn't fit

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 PERP	+0.0033%	1h	0.008930	−3.875%	$722	$21K	12x	as long as short
Hyperliquid MOVE	+0.0100%	1h	0.009288	−0.022%	$227K	$204K	3x	as long as short
Bybit MOVEUSDTlong	+0.0100%	4h	0.009290	long leg	$1.9M	$660K	25x
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009298	+0.086%	$978K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009290	0.000%	$417K	$290K	25x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009290	0.000%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009294	+0.043%	$825K	$422K	25x	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009323	+0.359%	$6K	$1K	—	as long as short
MEXC MOVE_USDT	+0.0156%	4h	0.009294	+0.043%	$3.8M	$219K	20x	as long as short
Binance MOVEUSDT	+0.0157%	4h	0.009288	−0.022%	$2.0M	$4.2M	25x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Extended MOVE-USDshort	+0.0160%	1h	0.009287	−0.035%	$10K	$121K	5x
BingX MOVE-USDT	+0.0172%	4h	0.009291	+0.011%	—	$6.5M	—	as long as short
Aster MOVEUSDT	+0.0552%	4h	0.009292	+0.019%	$12K	$10K	5x	as long as short