Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Bybit against Hyperliquid−0.214%7-day average +0.031% · you buy dearer than you sell

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

Long on Hyperliquid Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.259%−$26 on $10k

Price spread, last 4 days (all we have)+0.221%+$22 · spread now −0.214%, 7d avg +0.031%

Together, before fees−0.038%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 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: Bybit is 0.245% cheaper against Hyperliquid than usual: you would sell low and buy high, −$24 on $10k if it goes back to its 7-day average of +0.031%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009335	0.0100	pay 0.0013% / 1h	53m 00s	$228K	$208K	3x
Short	Bybit MOVEUSDT	0.009315	0.0100	get 0.0050% / 4h	2h 53m	$1.9M	$667K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now −0.214%Rate

Funding earned: $0
Price spread: −0.214% → +0.031%: −$24.5
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$44.5
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 56 min ago; Bybit: live order book, 4 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, 56 min ago	0.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 4 min ago	5.39 bp	48.3 bp −$48	165.2 bp −$1,652	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	−4.339%	$722	$21K	12x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009335	long leg	$228K	$208K	3x
Binance MOVEUSDT	+0.0100%	4h	0.009326	−0.093%	$2.0M	$4.2M	25x	as long as short
Bybit MOVEUSDTshort	+0.0100%	4h	0.009315	−0.214%	$1.9M	$667K	25x
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009335	0.000%	$980K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009310	−0.268%	$418K	$280K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009319	−0.171%	$3.8M	$212K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009300	−0.375%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009315	−0.214%	$827K	$429K	25x	as long as short
BingX MOVE-USDT	+0.0100%	4h	0.009312	−0.246%	—	$6.5M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Variational Omni MOVE	+0.0100%	4h	0.009284	−0.551%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009310	−0.272%	$11K	$123K	5x	as long as short
BloFin MOVE-USDT	+0.0125%	4h	0.009326	−0.096%	$122K	$10K	75x	as long as short
Aster MOVEUSDT	+0.0416%	4h	0.009306	−0.316%	$12K	$10K	5x	as long as short