Funding arb · Price arb /

MOODENG

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0494%/8h= −54.1% APRpaid last 24h −0.054%

Price spread now: OKX against Hyperliquid−0.146%7-day average −0.049% · you buy dearer than you sell

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$76as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.085%−$8 on $10k

Price spread, last 4 days (all we have)+0.187%+$19 · spread now −0.146%, 7d avg −0.049%

Together, before fees+0.103%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$15 a day on $10k at the current rate, and OKX is 0.097% cheaper against Hyperliquid than usual: you would sell low and buy high (−$10 if the spread goes back to its 7-day average of −0.049%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.085% in total (about -4.4% 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	Hyperliquid MOODENG	0.04781	0.0594	pay 0.0074% / 1h	46m 16s	$463K	$414K	3x
Short	OKX MOODENG-USDT-SWAP	0.04774	0.0100	get 0.0050% / 4h	2h 46m	$2.1M	$4.8M	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 −0.146%Rate

Funding earned: −$103.74
Price spread: −0.146% → −0.049%: −$9.7
Slippage, 4 orders: −$47.38
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$179.83
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 64 min ago; OKX: live order book, 1 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 Hyperliquid live order book, 64 min ago	1.88 bp	18.3 bp −$18	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 1 min ago	3.14 bp	15.5 bp −$16	103.9 bp −$1,039	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	0.04769	−0.259%	$18	—	100x	as long as short
BloFin MOODENG-USDT	+0.0045%	4h	0.04786	+0.105%	$182K	$138K	50x	as long as short
Aster MOODENGUSDT	+0.0100%	4h	0.04784	+0.067%	$10K	$32K	5x	as long as short
Binance MOODENGUSDT	+0.0100%	4h	0.04777	−0.078%	$2.6M	$11.6M	50x	as long as short
Bybit MOODENGUSDT	+0.0100%	4h	0.04776	−0.105%	$1.6M	$4.4M	50x	as long as short
OKX MOODENG-USDT-SWAPshort	+0.0100%	4h	0.04774	−0.146%	$2.1M	$4.8M	20x
Gate MOODENG_USDT	+0.0100%	4h	0.04777	−0.084%	$563K	$817K	50x	as long as short
MEXC MOODENG_USDT	+0.0100%	4h	0.04780	−0.021%	$947K	$324K	50x	as long as short
KuCoin MOODENGUSDTM	+0.0100%	4h	0.04777	−0.084%	$1.8M	$3.0M	50x	as long as short
Variational Omni MOODENG	+0.0100%	4h	0.04777	−0.089%	$7K	$31K	—	as long as short

Show all 17 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT MOODENG_USDT_Perp	+0.0100%	4h	0.04784	+0.072%	$422K	$2.3M	10x	as long as short
SunX MOODENG-USDT	+0.0100%	4h	0.04883	+2.133%	$1K	$1.9M	20x	as long as short
BingX MOODENG-USDT	+0.0572%	4h	0.04774	−0.146%	—	$6.7M	—	as long as short
Hyperliquid MOODENGlong	+0.0594%	1h	0.04781	long leg	$463K	$414K	3x
Bitget MOODENGUSDT	+0.0602%	4h	0.04784	+0.063%	$1.3M	$1.2M	50x	as long as short
ApeX Omni MOODENGUSDT	+0.0781%	1h	0.04783	+0.042%	$23K	$665K	25x	as long as short
Kraken Futures PF_MOODENGUSD	+0.6591%	1h	0.04778	−0.052%	$64K	$116K	20x	as long as short