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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 0.000%

Price spread now: Hyperliquid against OKX−0.127%7-day average −0.024% · you buy dearer than you sell

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

Long on OKX Short on Hyperliquid

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)+0.077%+$8 · spread now −0.127%, 7d avg −0.024%

Together, before fees+0.171%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 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 0.103% cheaper against OKX than usual: you would sell low and buy high, −$10 on $10k if it goes back to its 7-day average of −0.024%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX MOVE-USDT-SWAP	0.009454	0.0100	pay 0.0050% / 4h	52m 42s	$997K	$1.0M	20x
Short	Hyperliquid MOVE	0.009442	0.0100	get 0.0013% / 1h	52m 42s	$233K	$206K	3x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now −0.127%Rate

Funding earned: $0
Price spread: −0.127% → −0.024%: −$10.25
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$29.25
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 4 min ago; Hyperliquid: 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 OKX live order book, 4 min ago	2.65 bp	31.0 bp −$31	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.53 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	0.008930	−5.543%	$722	$21K	12x	as long as short
BloFin MOVE-USDT	+0.0040%	4h	0.009432	−0.233%	$121K	$12K	75x	as long as short
Bybit MOVEUSDT	+0.0079%	4h	0.009441	−0.138%	$2.0M	$655K	25x	as long as short
Hyperliquid MOVEshort	+0.0100%	1h	0.009442	−0.127%	$233K	$206K	3x
Aster MOVEUSDT	+0.0100%	4h	0.009479	+0.262%	$12K	$10K	5x	as long as short
Binance MOVEUSDT	+0.0100%	4h	0.009441	−0.133%	$2.0M	$4.1M	25x	as long as short
OKX MOVE-USDT-SWAPlong	+0.0100%	4h	0.009454	long leg	$997K	$1.0M	20x
Gate MOVE_USDT	+0.0100%	8h	0.009440	−0.148%	$428K	$340K	25x	as long as short
MEXC MOVE_USDT	+0.0100%	4h	0.009443	−0.116%	$3.8M	$209K	20x	as long as short
KuCoin MOVEUSDTM	+0.0100%	4h	0.009430	−0.254%	$1.2M	$33K	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	0.009446	−0.085%	$853K	$408K	25x	as long as short
BingX MOVE-USDT	+0.0100%	4h	0.009443	−0.116%	—	$6.5M	—	as long as short
Variational Omni MOVE	+0.0100%	4h	0.009389	−0.691%	$6K	$2K	—	as long as short
Extended MOVE-USD	+0.0104%	1h	0.009477	+0.241%	$10K	$143K	5x	as long as short