Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC−0.0064%/8h= −7.0% APRpaid last 24h +0.088%

Price spread now: MEXC against Hyperliquid−0.055%7-day average −0.027% · you buy dearer than you sell

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

Long on Hyperliquid Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.017%+$2 on $10k

Price spread, last 4 days (all we have)+0.128%+$13 · spread now −0.055%, 7d avg −0.027%

Together, before fees+0.145%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and MEXC is 0.028% cheaper against Hyperliquid than usual: you would sell low and buy high (−$3 if the spread goes back to its 7-day average of −0.027%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009156	0.0100	pay 0.0013% / 1h	30m 34s	$226K	$182K	3x
Short	MEXC MOVE_USDT	0.009151	0.0036	get 0.0018% / 4h	1h 30m	$3.7M	$183K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.055%Rate

Funding earned: −$13.44
Price spread: −0.055% → −0.027%: −$2.79
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$29.23
Costs to cover: 0.130%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 2 min ago; MEXC: live order book, 10 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, 2 min ago	1.09 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell MEXC live order book, 10 min ago	3.79 bp	11.6 bp −$12	63.6 bp −$636	219.7 bp −$22.0K	doesn't fit

MOVE on 14 exchanges

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	−0.1010%	4h	0.009169	+0.142%	$1.9M	$558K	25x	as long as short
BloFin MOVE-USDT	−0.0030%	4h	0.009163	+0.076%	$114K	$4K	75x	as long as short
Injective MOVE/USDC PERP	+0.0033%	1h	0.009310	+1.682%	$753	$100	12x	as long as short
MEXC MOVE_USDTshort	+0.0036%	4h	0.009151	−0.055%	$3.7M	$183K	20x
Binance MOVEUSDT	+0.0038%	4h	0.009155	−0.009%	$1.9M	$4.1M	25x	as long as short
Extended MOVE-USD	+0.0040%	1h	0.009152	−0.040%	$11K	$190K	5x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009156	long leg	$226K	$182K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009128	−0.308%	$11K	$10K	5x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009160	+0.044%	$936K	$822K	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009150	−0.066%	$398K	$230K	25x	as long as short

Show all 14 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
KuCoin MOVEUSDTM	+0.0100%	4h	0.009150	−0.066%	$1.1M	$18K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009161	+0.055%	$827K	$324K	25x	as long as short
BingX MOVE-USDT	+0.0100%	4h	0.009145	−0.120%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009163	+0.075%	$7K	$1K	—	as long as short