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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Gate+0.235%7-day average +0.059% · you sell dearer than you buy

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

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.206%−$21 · spread now +0.235%, 7d avg +0.059%

Together, before fees−0.172%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 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 0.176% dearer against Gate than usual: you sell high and buy low, +$18 on $10k if it goes back to its 7-day average of +0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate MOVE_USDT	0.009370	0.0100	pay 0.0100% / 8h	16m 37s	$424K	$344K	25x
Short	Hyperliquid MOVE	0.009392	0.0100	get 0.0013% / 1h	16m 37s	$231K	$206K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.235%Rate

Funding earned: $0
Price spread: +0.235% → +0.059%: $17.58
Slippage, 4 orders: no order book: not counted
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$6.42
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Gate: live order book, 59 min ago; Hyperliquid: live order book, 43 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 Gate live order book, 59 min ago	10.71 bp	103.7 bp −$104	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 43 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	−4.696%	$722	$21K	12x	as long as short
Bybit MOVEUSDT	+0.0053%	4h	0.009380	+0.107%	$1.9M	$669K	25x	as long as short
BloFin MOVE-USDT	+0.0068%	4h	0.009382	+0.128%	$121K	$11K	75x	as long as short
Hyperliquid MOVEshort	+0.0100%	1h	0.009392	+0.235%	$231K	$206K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009339	−0.331%	$12K	$10K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009390	+0.210%	$2.0M	$4.2M	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009391	+0.224%	$992K	$1.0M	20x	as long as short
Gate MOVE_USDTlong	+0.0100%	8h	0.009370	long leg	$424K	$344K	25x
MEXC MOVE_USDT	+0.0100%	4h	0.009389	+0.203%	$3.8M	$213K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009370	0.000%	$1.2M	$30K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MOVEUSDT	+0.0100%	4h	0.009396	+0.277%	$840K	$409K	25x	as long as short
BingX MOVE-USDT	+0.0100%	4h	0.009387	+0.181%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009389	+0.200%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009385	+0.158%	$10K	$143K	5x	as long as short