Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.092%

Price spread now: Injective against MEXC−4.030%7-day average — · you buy dearer than you sell

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

Long on MEXC Short on Injective

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 against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 4.030% cheaper against MEXC than usual: you would sell low and buy high (−$403 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC MOVE_USDT	0.009305	0.0100	pay 0.0050% / 4h	3h 31m	$3.8M	$214K	20x
Short	Injective MOVE/USDC PERP	0.008930	0.0033	get 0.0004% / 1h	31m 14s	$722	$21K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against MEXC. 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 MEXCbpFee InjectivebpOrdersPrice spread, now −4.030%Rate

Funding earned: −$14
Price spread: −4.030% → 0.000%: −$403.01
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$421.03
Costs to cover: 0.040%
Break-even: never at this rate

Slippage unknown: MEXC: live order book, 1 min ago; Injective: 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 MEXC live order book, 1 min ago	2.15 bp	11.2 bp −$11	67.6 bp −$676	198.8 bp −$19.9K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

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 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 PERPshort	+0.0033%	1h	0.008930	−4.030%	$722	$21K	12x
Hyperliquid MOVE	+0.0100%	1h	0.009300	−0.054%	$230K	$198K	3x	as long as short
Aster MOVEUSDT	+0.0100%	4h	0.009306	+0.016%	$10K	$11K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009305	0.000%	$2.0M	$4.3M	25x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009300	−0.054%	$1.9M	$629K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009297	−0.086%	$982K	$936K	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009290	−0.161%	$415K	$264K	25x	as long as short
MEXC MOVE_USDTlong	+0.0100%	4h	0.009305	long leg	$3.8M	$214K	20x
KuCoin MOVEUSDTM	+0.0100%	4h	0.009280	−0.269%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009294	−0.118%	$828K	$398K	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	0.009304	−0.011%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009298	−0.071%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009297	−0.090%	$10K	$128K	5x	as long as short
BloFin MOVE-USDT	+0.0106%	4h	0.009302	−0.032%	$121K	$10K	75x	as long as short