Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Bitget−4.635%51s7-day average — · you buy dearer than you sell

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

Long on Bitget 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 4.635% cheaper against Bitget than usual: you would sell low and buy high (−$463 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 51 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	Bitget MOVEUSDT	0.009364	0.0100	pay 0.0050% / 4h	2h 28m	$849K	$423K	25x
Short	Injective MOVE/USDC PERP	0.008930	0.0033	get 0.0004% / 1h	28m 25s	$722	$21K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Bitget. 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 BitgetbpFee InjectivebpOrdersPrice spread, now −4.635%Rate

Funding earned: −$14
Price spread: −4.635% → 0.000%: −$463.48
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$489.5
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 57 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 Bitget live order book, 57 min ago	3.21 bp	23.4 bp −$23	280.3 bp −$2,803	doesn't fit	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
Bybit MOVEUSDT	−0.0466%	4h	0.009360	−0.043%	$1.9M	$658K	25x	as long as short
Injective MOVE/USDC PERPshort	+0.0033%	1h	0.008930	−4.635%	$722	$21K	12x
BloFin MOVE-USDT	+0.0062%	4h	0.009355	−0.096%	$122K	$12K	75x	as long as short
Hyperliquid MOVE	+0.0100%	1h	0.009351	−0.139%	$228K	$210K	3x	as long as short
Aster MOVEUSDT	+0.0100%	4h	0.009372	+0.084%	$11K	$12K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009352	−0.124%	$2.0M	$4.1M	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009357	−0.075%	$983K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009360	−0.043%	$422K	$337K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009353	−0.117%	$3.8M	$230K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009350	−0.150%	$1.2M	$38K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MOVEUSDTlong	+0.0100%	4h	0.009364	long leg	$849K	$423K	25x
BingX MOVE-USDT	+0.0100%	4h	0.009356	−0.085%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009355	−0.101%	$6K	$2K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009357	−0.075%	$10K	$143K	5x	as long as short