Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Hyperliquid−0.032%7-day average +0.021% · you buy dearer than you sell

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.017%−$2 on $10k

Price spread, last 4 days (all we have)+0.009%+$1 · spread now −0.032%, 7d avg +0.021%

Together, before fees−0.008%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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: OKX is 0.054% cheaper against Hyperliquid than usual: you would sell low and buy high, −$5 on $10k if it goes back to its 7-day average of +0.021%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009258	0.0100	pay 0.0013% / 1h	40m 30s	$229K	$198K	3x
Short	OKX MOVE-USDT-SWAP	0.009255	0.0100	get 0.0050% / 4h	3h 40m	$966K	$917K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Hyperliquid. 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 HyperliquidbpFee OKXbpOrdersPrice spread, now −0.032%Rate

Funding earned: $0
Price spread: −0.032% → +0.021%: −$5.36
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$24.36
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 69 min ago; OKX: live order book, 56 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, 69 min ago	1.08 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 56 min ago	4.85 bp	29.4 bp −$29	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	0.009310	+0.562%	$753	$100	12x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009258	long leg	$229K	$198K	3x
Bybit MOVEUSDT	+0.0100%	4h	0.009250	−0.086%	$1.9M	$623K	25x	as long as short
OKX MOVE-USDT-SWAPshort	+0.0100%	4h	0.009255	−0.032%	$966K	$917K	20x
Gate MOVE_USDT	+0.0100%	8h	0.009260	+0.022%	$409K	$241K	25x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009250	−0.086%	$1.1M	$19K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009261	+0.032%	$846K	$376K	25x	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009258	+0.005%	$7K	$2K	—	as long as short
BingX MOVE-USDT	+0.0780%	4h	0.009250	−0.086%	—	$6.5M	—	as long as short
Extended MOVE-USD	+0.0840%	1h	0.009254	−0.041%	$12K	$188K	5x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MOVE_USDT	+0.0842%	4h	0.009255	−0.032%	$3.7M	$214K	20x	as long as short
Binance MOVEUSDT	+0.0843%	4h	0.009252	−0.065%	$2.0M	$4.4M	25x	as long as short
BloFin MOVE-USDT	+0.0852%	4h	0.009257	−0.011%	$116K	$4K	75x	as long as short
Aster MOVEUSDT	+0.1170%	4h	0.009220	−0.410%	$11K	$10K	5x	as long as short