Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0032%/8h= +3.5% APRpaid last 24h +0.064%

Price spread now: BloFin against Hyperliquid−0.117%47s7-day average −0.002% · you buy dearer than you sell

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

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.170%−$17 on $10k

Price spread, last 4 days (all we have)+0.487%+$49 · spread now −0.117%, 7d avg −0.002%

Together, before fees+0.317%+ Points / potential airdropHyperliquid: Season 2 · farm board+$32 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.115% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.117% now, against its 7-day average of −0.002%). If the spread goes back, that is −$12 on $10k: about 12 days of funding at the current rate (+$1 a day). Mind the row above: over the last 7 days funding on this pair cost −0.170%, so the current rate has only just turned in your favour. The two prices were read 47 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	Hyperliquid MOVE	0.009364	0.0100	pay 0.0013% / 1h	22m 28s	$228K	$196K	3x
Short	BloFin MOVE-USDT	0.009353	0.0132	get 0.0066% / 4h	1h 22m	$121K	$10K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. 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 HyperliquidbpFee BloFinbpOrdersPrice spread, now −0.117%Rate

Funding earned: $6.8
Price spread: −0.117% → −0.002%: −$11.53
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$25.73
Costs to cover: 0.210%
Break-even: 33.5 days

Slippage unknown: Hyperliquid: live order book, 7 min ago; BloFin: live order book, 13 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 Hyperliquid live order book, 7 min ago	1.07 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 13 min ago	2.14 bp	18.1 bp −$18	66.3 bp −$663	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	−4.635%	$722	$21K	12x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009364	long leg	$228K	$196K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009310	−0.572%	$12K	$10K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009368	+0.043%	$2.1M	$4.2M	25x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009359	−0.053%	$1.9M	$648K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009366	+0.021%	$990K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009330	−0.363%	$417K	$278K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009362	−0.021%	$3.8M	$212K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009330	−0.363%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009373	+0.096%	$832K	$417K	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	0.009350	−0.150%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009348	−0.170%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009354	−0.110%	$10K	$121K	5x	as long as short
BloFin MOVE-USDTshort	+0.0132%	4h	0.009353	−0.117%	$121K	$10K	75x