Funding arb · Price arb /

MOODENG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0918%/8h= +100.5% APRpaid last 24h +0.061%

Price spread now: Hyperliquid against Bybit+0.076%7-day average −0.013% · you sell dearer than you buy

Net, funding: paid 7d − costs−$71as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$750.748% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.034%+$3 on $10k

Price spread, last 4 days (all we have)−0.085%−$8 · spread now +0.076%, 7d avg −0.013%

Together, before fees−0.050%+ Points / potential airdropHyperliquid: Season 2 · farm board−$5 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$28 a day on $10k at the current rate, and Hyperliquid is 0.089% dearer against Bybit than usual: you sell high and buy low: +$9 more if the spread goes back to its 7-day average of −0.013%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.034% in total (about 1.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MOODENGUSDT	0.04762	0.0100	pay 0.0050% / 4h	1h 33m	$1.6M	$4.4M	50x
Short	Hyperliquid MOODENG	0.04766	0.1018	get 0.0127% / 1h	33m 46s	$473K	$416K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.076%Rate

Funding earned: $192.78
Price spread: +0.076% → −0.013%: $8.89
Slippage, 4 orders: −$54.77
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $126.9
Costs to cover: 0.748%
Break-even: 2.4 days

Slippage from Bybit: live order book, 4 min ago; Hyperliquid: live order book, 66 min ago.

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 Bybit live order book, 4 min ago	4.22 bp	18.5 bp −$18	45.0 bp −$450	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 66 min ago	1.48 bp	21.5 bp −$22	doesn't fit	doesn't fit	doesn't fit

MOODENG on 17 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
GMX MOODENG/USD [WBTC.b-USDC]	L −1.1224% / S +0.0193%	1h	0.04747	−0.317%	$18	—	100x	as long as short
Aster MOODENGUSDT	+0.0100%	4h	0.04752	−0.219%	$10K	$32K	5x	as long as short
Bybit MOODENGUSDTlong	+0.0100%	4h	0.04762	long leg	$1.6M	$4.4M	50x
OKX MOODENG-USDT-SWAP	+0.0100%	4h	0.04762	0.000%	$2.1M	$4.8M	20x	as long as short
Gate MOODENG_USDT	+0.0100%	4h	0.04745	−0.357%	$570K	$833K	50x	as long as short
KuCoin MOODENGUSDTM	+0.0100%	4h	0.04750	−0.252%	$1.7M	$2.9M	50x	as long as short
Variational Omni MOODENG	+0.0100%	4h	0.04757	−0.103%	$9K	$32K	—	as long as short
GRVT MOODENG_USDT_Perp	+0.0100%	4h	0.04744	−0.376%	$414K	$2.4M	10x	as long as short
SunX MOODENG-USDT	+0.0100%	4h	0.04855	+1.953%	$2K	$1.9M	20x	as long as short
MEXC MOODENG_USDT	+0.0126%	4h	0.04760	−0.042%	$917K	$328K	50x	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance MOODENGUSDT	+0.0144%	4h	0.04762	−0.001%	$2.6M	$11.7M	50x	as long as short
BloFin MOODENG-USDT	+0.0153%	4h	0.04746	−0.336%	$180K	$120K	50x	as long as short
ApeX Omni MOODENGUSDT	+0.0587%	1h	0.04736	−0.546%	$22K	$663K	25x	as long as short
BingX MOODENG-USDT	+0.0742%	4h	0.04758	−0.084%	—	$6.7M	—	as long as short
Bitget MOODENGUSDT	+0.0796%	4h	0.04763	+0.021%	$1.3M	$1.2M	50x	as long as short
Hyperliquid MOODENGshort	+0.1018%	1h	0.04766	+0.076%	$473K	$416K	3x
Kraken Futures PF_MOODENGUSD	+0.2844%	1h	0.04756	−0.127%	$63K	$117K	20x	as long as short