Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.1487%/8h= −162.9% APRpaid last 24h −0.080%

Price spread now: Injective against BingX+0.768%102s7-day average — · you sell dearer than you buy

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

Long on BingX 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

The price spread pays, funding is against you. Injective is 0.768% dearer against BingX than usual: you sell high and buy low (spread +0.768% now, against zero (this spread has no 7-day history yet)): +$77 on $10k if it goes back. Holding the pair costs −$45 a day in funding at the current rate, which eats that in about 41 hours. The two prices were read 102 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	BingX MOVE-USDT	0.009239	0.0602	pay 0.0301% / 4h	1h 33m	—	$6.5M	—
Short	Injective MOVE/USDC PERP	0.009310	−0.0885	pay 0.0111% / 1h	33m 31s	$753	$100	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.768%Rate

Funding earned: −$312.35
Price spread: +0.768% → 0.000%: $76.85
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$245.52
Costs to cover: 0.100%
Break-even: from the start

Slippage unknown: BingX: live order book, 7 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 BingX live order book, 7 min ago	5.94 bp	21.1 bp −$21	71.9 bp −$719	636.5 bp −$63.7K	969.2 bp −$484.6K
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	−0.0885%	1h	0.009310	+0.768%	$753	$100	12x
Hyperliquid MOVE	+0.0100%	1h	0.009249	+0.108%	$231K	$204K	3x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009240	+0.011%	$1.9M	$657K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009240	+0.011%	$973K	$958K	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009240	+0.011%	$405K	$265K	25x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009240	+0.011%	$1.1M	$28K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009249	+0.108%	$846K	$414K	25x	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009243	+0.047%	$6K	$1K	—	as long as short
BingX MOVE-USDTlong	+0.0602%	4h	0.009239	long leg	—	$6.5M	—
BloFin MOVE-USDT	+0.0668%	4h	0.009235	−0.043%	$116K	$5K	75x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster MOVEUSDT	+0.0671%	4h	0.009233	−0.066%	$10K	$11K	5x	as long as short
MEXC MOVE_USDT	+0.0684%	4h	0.009230	−0.097%	$3.7M	$216K	20x	as long as short
Binance MOVEUSDT	+0.0685%	4h	0.009234	−0.055%	$2.0M	$4.5M	25x	as long as short
Extended MOVE-USD	+0.0688%	1h	0.009227	−0.129%	$10K	$167K	5x	as long as short