Funding arb · Price arb /

MOVE

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.060%

Price spread now: BingX against Hyperliquid−0.331%7-day average +0.005% · you buy dearer than you sell

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)+0.372%+$37 · spread now −0.331%, 7d avg +0.005%

Together, before fees+0.426%+ Points / potential airdropHyperliquid: Season 2 · farm board+$43 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 0.337% cheaper against Hyperliquid than usual: you would sell low and buy high, −$34 on $10k if it goes back to its 7-day average of +0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid MOVE	0.009354	0.0100	pay 0.0013% / 1h	37m 10s	$228K	$210K	3x
Short	BingX MOVE-USDT	0.009323	0.0100	get 0.0050% / 4h	2h 37m	—	$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

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 BingXbpOrdersPrice spread, now −0.331%Rate

Funding earned: $0
Price spread: −0.331% → +0.005%: −$33.68
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$52.68
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 46 min ago; BingX: 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 Hyperliquid live order book, 46 min ago	1.07 bp	doesn't fit	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 4 min ago	3.75 bp	21.9 bp −$22	111.4 bp −$1,114	641.4 bp −$64.1K	972.4 bp −$486.2K

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	−0.0605%	4h	0.009328	−0.278%	$1.9M	$659K	25x	as long as short
Injective MOVE/USDC PERP	+0.0033%	1h	0.008930	−4.533%	$722	$21K	12x	as long as short
Hyperliquid MOVElong	+0.0100%	1h	0.009354	long leg	$228K	$210K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009309	−0.479%	$11K	$12K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009321	−0.349%	$2.0M	$4.1M	25x	as long as short
OKX MOVE-USDT-SWAP	+0.0100%	4h	0.009356	+0.021%	$984K	$1.0M	20x	as long as short
Gate MOVE_USDT	+0.0100%	8h	0.009330	−0.257%	$421K	$337K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009342	−0.128%	$3.8M	$229K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009320	−0.363%	$1.1M	$38K	25x	as long as short
Bitget MOVEUSDT	+0.0100%	4h	0.009339	−0.160%	$847K	$424K	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	0.009323	−0.331%	—	$6.5M	—
Variational Omni MOVE	+0.0100%	4h	0.009335	−0.203%	$6K	$2K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009312	−0.453%	$10K	$143K	5x	as long as short
BloFin MOVE-USDT	+0.0114%	4h	0.009350	−0.043%	$122K	$12K	75x	as long as short