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: Variational Omni against Hyperliquid−0.604%7-day average — · you buy dearer than you sell

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

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.604% cheaper against Hyperliquid than usual: you would sell low and buy high, −$60 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009340	0.0100	pay 0.0013% / 1h	52m 47s	$229K	$208K	3x
Short	Variational Omni MOVE	0.009284	0.0100	get 0.0050% / 4h	2h 52m	$6K	$1K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.604%Rate

Funding earned: $0
Price spread: −0.604% → 0.000%: −$60.43
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$69.43
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 57 min ago; Variational Omni: no order-book sample. 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, 57 min ago	0.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−4.390%	$722	$21K	12x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009340	long leg	$229K	$208K	3x
Binance MOVEUSDT	+0.0100%	4h	0.009332	−0.086%	$2.0M	$4.2M	25x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009324	−0.171%	$1.9M	$667K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009339	−0.011%	$981K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009310	−0.321%	$418K	$280K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009329	−0.118%	$3.8M	$212K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009310	−0.321%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009321	−0.203%	$828K	$429K	25x	as long as short
BingX MOVE-USDT	+0.0100%	4h	0.009324	−0.171%	—	$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 MOVEshort	+0.0100%	4h	0.009284	−0.604%	$6K	$1K	—
Extended MOVE-USD	+0.0104%	1h	0.009330	−0.109%	$11K	$123K	5x	as long as short
BloFin MOVE-USDT	+0.0125%	4h	0.009326	−0.150%	$122K	$10K	75x	as long as short
Aster MOVEUSDT	+0.0416%	4h	0.009309	−0.337%	$12K	$10K	5x	as long as short