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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h 0.000%

Price spread now: Hyperliquid against Bybit+0.065%7-day average −0.028% · you sell dearer than you buy

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

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.196%+$20 on $10k

Price spread, last 4 days (all we have)−0.076%−$8 · spread now +0.065%, 7d avg −0.028%

Together, before fees+0.120%+ Points / potential airdropHyperliquid: Season 2 · farm board+$12 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: Hyperliquid is 0.093% dearer against Bybit than usual: you sell high and buy low, +$9 on $10k if it goes back to its 7-day average of −0.028%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit MOVEUSDT	0.009283	0.0100	pay 0.0050% / 4h	45m 30s	$1.9M	$646K	25x
Short	Hyperliquid MOVE	0.009289	0.0100	get 0.0013% / 1h	45m 30s	$232K	$205K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now +0.065%Rate

Funding earned: $0
Price spread: +0.065% → −0.028%: $9.27
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$10.73
Costs to cover: 0.200%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 1 min ago; Hyperliquid: live order book, 4 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 Bybit live order book, 1 min ago	5.39 bp	59.8 bp −$60	180.7 bp −$1,807	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.08 bp	doesn't fit	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
Injective MOVE/USDC PERP	+0.0033%	1h	0.009310	+0.291%	$753	$100	12x	as long as short
Hyperliquid MOVEshort	+0.0100%	1h	0.009289	+0.065%	$232K	$205K	3x
Bybit MOVEUSDTlong	+0.0100%	4h	0.009283	long leg	$1.9M	$646K	25x
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009285	+0.022%	$974K	$930K	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009270	−0.140%	$407K	$258K	25x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009280	−0.032%	$1.1M	$19K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009282	−0.011%	$850K	$382K	25x	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009293	+0.110%	$6K	$1K	—	as long as short
BloFin MOVE-USDT	+0.1201%	4h	0.009287	+0.043%	$116K	$4K	75x	as long as short
BingX MOVE-USDT	+0.1204%	4h	0.009276	−0.075%	—	$6.5M	—	as long as short

Show all 14 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
MEXC MOVE_USDT	+0.1220%	4h	0.009283	0.000%	$3.7M	$215K	20x	as long as short
Binance MOVEUSDT	+0.1221%	4h	0.009281	−0.026%	$2.0M	$4.4M	25x	as long as short
Extended MOVE-USD	+0.1224%	1h	0.009279	−0.046%	$12K	$190K	5x	as long as short
Aster MOVEUSDT	+0.1364%	4h	0.009294	+0.114%	$11K	$11K	5x	as long as short