Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.060%

Price spread now: Hyperliquid against BingX+0.096%7-day average −0.005% · you sell dearer than you buy

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

Long on BingX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.065%−$7 on $10k

Price spread, last 4 days (all we have)−0.073%−$7 · spread now +0.096%, 7d avg −0.005%

Together, before fees−0.138%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.100% dearer against BingX than usual: you sell high and buy low, +$10 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX MOVE-USDT	0.009406	0.0100	pay 0.0050% / 4h	3h 17m	—	$6.5M	—
Short	Hyperliquid MOVE	0.009415	0.0100	get 0.0013% / 1h	17m 08s	$233K	$206K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BingX. 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 BingXbpFee HyperliquidbpOrdersPrice spread, now +0.096%Rate

Funding earned: $0
Price spread: +0.096% → −0.005%: $10.04
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$8.96
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: BingX: live order book, 4 min ago; Hyperliquid: live order book, 32 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 BingX live order book, 4 min ago	5.86 bp	19.7 bp −$20	83.1 bp −$831	589.1 bp −$58.9K	911.8 bp −$455.9K
Sell Hyperliquid live order book, 32 min ago	0.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit

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	−5.061%	$722	$21K	12x	as long as short
BloFin MOVE-USDT	+0.0045%	4h	0.009389	−0.181%	$121K	$11K	75x	as long as short
Hyperliquid MOVEshort	+0.0100%	1h	0.009415	+0.096%	$233K	$206K	3x
Binance MOVEUSDT	+0.0100%	4h	0.009404	−0.025%	$2.0M	$4.2M	25x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009406	0.000%	$2.0M	$662K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009423	+0.181%	$993K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009390	−0.170%	$421K	$330K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009401	−0.053%	$3.8M	$213K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009390	−0.170%	$1.2M	$27K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009414	+0.085%	$839K	$427K	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-USDTlong	+0.0100%	4h	0.009406	long leg	—	$6.5M	—
Variational Omni MOVE	+0.0100%	4h	0.009383	−0.240%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009392	−0.153%	$10K	$122K	5x	as long as short
Aster MOVEUSDT	+0.0250%	4h	0.009395	−0.113%	$12K	$10K	5x	as long as short