Funding arb · Price arb /

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: OKX against Hyperliquid−0.011%7-day average +0.025% · you buy dearer than you sell

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

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.094%−$9 on $10k

Price spread, last 4 days (all we have)+0.083%+$8 · spread now −0.011%, 7d avg +0.025%

Together, before fees−0.012%+ Points / potential airdropHyperliquid: Season 2 · farm board−$1 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: OKX is 0.035% cheaper against Hyperliquid than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.025%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009425	0.0100	pay 0.0013% / 1h	58m 13s	$235K	$208K	3x
Short	OKX MOVE-USDT-SWAP	0.009424	0.0100	get 0.0050% / 4h	3h 58m	$994K	$1.0M	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX against Hyperliquid. 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 HyperliquidbpFee OKXbpOrdersPrice spread, now −0.011%Rate

Funding earned: $0
Price spread: −0.011% → +0.025%: −$3.55
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$22.55
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 61 min ago; OKX: live order book, 3 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, 61 min ago	0.53 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 3 min ago	2.65 bp	26.3 bp −$26	doesn't fit	doesn't fit	doesn't fit

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	−0.4288%	4h	0.009443	+0.191%	$2.0M	$665K	25x	as long as short
Injective MOVE/USDC PERP	+0.0033%	1h	0.008930	−5.252%	$722	$21K	12x	as long as short
BloFin MOVE-USDT	+0.0055%	4h	0.009425	0.000%	$120K	$11K	75x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009425	long leg	$235K	$208K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009481	+0.597%	$12K	$10K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009426	+0.011%	$2.1M	$4.2M	25x	as long as short
OKX MOVE-USDT-SWAPshort	+0.0100%	4h	0.009424	−0.011%	$994K	$1.0M	20x
Gate MOVE_USDT	+0.0100%	8h	0.009440	+0.159%	$427K	$326K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009420	−0.053%	$3.8M	$211K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009440	+0.159%	$1.2M	$30K	25x	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bitget MOVEUSDT	+0.0100%	4h	0.009435	+0.106%	$852K	$412K	25x	as long as short
BingX MOVE-USDT	+0.0100%	4h	0.009444	+0.202%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009434	+0.093%	$6K	$1K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009420	−0.052%	$10K	$140K	5x	as long as short