Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: BingX against Hyperliquid+0.276%7-day average +0.006% · you sell dearer than you buy

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

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.054%+$5 on $10k

Price spread, last 4 days (all we have)−0.301%−$30 · spread now +0.276%, 7d avg +0.006%

Together, before fees−0.248%+ Points / potential airdropHyperliquid: Season 2 · farm board−$25 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: BingX is 0.270% dearer against Hyperliquid than usual: you sell high and buy low, +$27 on $10k if it goes back to its 7-day average of +0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009419	0.0100	pay 0.0013% / 1h	3m 14s	$232K	$206K	3x
Short	BingX MOVE-USDT	0.009445	0.0100	get 0.0050% / 4h	3m 14s	—	$6.5M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against Hyperliquid. 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 HyperliquidbpFee BingXbpOrdersPrice spread, now +0.276%Rate

Funding earned: $0
Price spread: +0.276% → +0.006%: $27.03
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: $8.03
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 56 min ago; BingX: live order book, 7 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 Hyperliquid live order book, 56 min ago	0.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 7 min ago	4.26 bp	22.6 bp −$23	125.3 bp −$1,253	590.2 bp −$59.0K	917.7 bp −$458.8K

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	−5.192%	$722	$21K	12x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009419	long leg	$232K	$206K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009405	−0.150%	$12K	$10K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009422	+0.029%	$2.1M	$4.2M	25x	as long as short
Bybit MOVEUSDT	+0.0100%	4h	0.009420	+0.011%	$2.0M	$664K	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009421	+0.021%	$995K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009410	−0.096%	$425K	$345K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009421	+0.021%	$3.8M	$214K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009400	−0.202%	$1.2M	$30K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009435	+0.170%	$852K	$413K	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-USDTshort	+0.0100%	4h	0.009445	+0.276%	—	$6.5M	—
Variational Omni MOVE	+0.0100%	4h	0.009384	−0.374%	$6K	$1K	—	as long as short
BloFin MOVE-USDT	+0.0102%	4h	0.009403	−0.170%	$121K	$11K	75x	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009420	+0.009%	$10K	$143K	5x	as long as short