Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0067%/8h= +7.3% APRpaid last 24h +0.020%

Price spread now: Bitget against Injective+4.468%101s7-day average — · you sell dearer than you buy

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

Long on Injective Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work for this trade now. Funding pays +$2 a day on $10k at the current rate, and Bitget is 4.468% dearer against Injective than usual: you sell high and buy low: +$447 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 101 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	Injective MOVE/USDC PERP	0.008930	0.0033	pay 0.0004% / 1h	11m 31s	$722	$21K	12x
Short	Bitget MOVEUSDT	0.009329	0.0100	get 0.0050% / 4h	2h 11m	$828K	$425K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Injective. 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 InjectivebpFee BitgetbpOrdersPrice spread, now +4.468%Rate

Funding earned: $14
Price spread: +4.468% → 0.000%: $446.81
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Bitget: 6 bp × 2 orders: −$12
Net: $448.79
Costs to cover: 0.120%
Break-even: from the start

Slippage unknown: Injective: no order-book sample; Bitget: live order book, 54 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 Injective no order-book sample	—	—	—	—	—
Sell Bitget live order book, 54 min ago	6.90 bp	27.3 bp −$27	218.7 bp −$2,187	doesn't fit	doesn't fit

Injective: 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 13 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 PERPlong	+0.0033%	1h	0.008930	long leg	$722	$21K	12x
Hyperliquid MOVE	+0.0100%	1h	0.009331	+4.490%	$228K	$207K	3x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009328	+4.457%	$1.9M	$661K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009330	+4.479%	$981K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009330	+4.479%	$420K	$289K	25x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009330	+4.479%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDTshort	+0.0100%	4h	0.009329	+4.468%	$828K	$425K	25x
Variational Omni MOVE	+0.0100%	4h	0.009333	+4.516%	$6K	$1K	—	as long as short
BingX MOVE-USDT	+0.0172%	4h	0.009326	+4.434%	—	$6.5M	—	as long as short
MEXC MOVE_USDT	+0.0204%	4h	0.009331	+4.490%	$3.8M	$219K	20x	as long as short

Show all 13 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MOVEUSDT	+0.0205%	4h	0.009318	+4.345%	$2.0M	$4.2M	25x	as long as short
Extended MOVE-USD	+0.0208%	1h	0.009327	+4.442%	$10K	$121K	5x	as long as short
Aster MOVEUSDT	+0.0620%	4h	0.009325	+4.426%	$12K	$10K	5x	as long as short