Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.020%

Price spread now: Injective against Bybit−3.574%78s7-day average — · you buy dearer than you sell

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

Long on Bybit 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 3.574% cheaper against Bybit than usual: you would sell low and buy high (−$357 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 78 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	Bybit MOVEUSDT	0.009261	0.0100	pay 0.0050% / 4h	42m 09s	$1.9M	$640K	25x
Short	Injective MOVE/USDC PERP	0.008930	0.0033	get 0.0004% / 1h	42m 09s	$722	$21K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now −3.574%Rate

Funding earned: −$14
Price spread: −3.574% → 0.000%: −$357.41
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$382.43
Costs to cover: 0.110%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 4 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 Bybit live order book, 4 min ago	5.40 bp	50.9 bp −$51	210.9 bp −$2,109	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
Injective MOVE/USDC PERPshort	+0.0033%	1h	0.008930	−3.574%	$722	$21K	12x
Hyperliquid MOVE	+0.0100%	1h	0.009263	+0.022%	$226K	$197K	3x	as long as short
Aster MOVEUSDT	+0.0100%	4h	0.009275	+0.154%	$11K	$10K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009262	+0.011%	$2.0M	$4.2M	25x	as long as short
Bybit MOVEUSDTlong	+0.0100%	4h	0.009261	long leg	$1.9M	$640K	25x
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009262	+0.011%	$977K	$990K	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009250	−0.119%	$414K	$264K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009264	+0.032%	$3.8M	$210K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009260	−0.011%	$1.1M	$26K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009264	+0.032%	$820K	$418K	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-USDT	+0.0100%	4h	0.009259	−0.022%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009253	−0.082%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009263	+0.017%	$10K	$121K	5x	as long as short
BloFin MOVE-USDT	+0.0132%	4h	0.009257	−0.043%	$121K	$10K	75x	as long as short