W

Leg	Exchange	Price	Fund. /8h	Each payment	Next in	OI	Vol 24h	Lev
LONG	BybitWUSDT	0.01036	+0.0100	pay 0.0050% / 4h	16m 20s	$3.6M	$2.7M	50x	Long Bybit
SHORT	HyperliquidW	0.01036	−0.0248	pay 0.0031% / 1h	16m 20s	$2.4M	$640K	5x	Short Hyperliquid4% off

Price gap−0.029%

Funding gap−0.0348% /8h

Both sides work against this direction now: funding costs $10 a day on $10k and the gap is 0.038% under its 7d average. Swap the legs.

If you open now and hold

on $10k a leg · figures of the last 7D, not a forecast

Funding+$2−0.0348% /8h now · paid +0.018% over the last 7D

Price−$4spread −0.029% now, avg +0.009% → −0.038% if it goes back

Costs−$780.783% of $10k · taker + slippage, in and out

Result−$80−0.80%+ Points / potential airdropHyperliquid: Season 2 · farm board

The current funding rate is far below what this pair has been paying: over the last 7 days it paid +0.018% in total, about +0.0008%/8h on average.

Price and funding

1h · history

Entry / Exit

Price spread

Prices

Fundingper 8h

ENTRY / EXIT · 7D

Entry now—

Entry average—

Best entry—

Exit now—

Exit average—

Best exit—

Exit free—

PRICE SPREAD · 7D

Now−0.029%

Average—

Range—

Wider than now—

FUNDING SPREAD · 7D

Average /8h—

Highest—

Lowest—

Paid you—

Where the spread has been, last 7D

share of time at each level

Funding on every exchange

/8h

W on 17 exchanges

lowest funding first

Before you open

1 ok · 4 to watch

Watch: Thin at this size21.0 / 20.0 bp
At $10k entering Bybit costs 21.0 bp, fee and slippage, 1.1× Hyperliquid’s.
Note: Margin at max leverage$200 + $2,000
Bybit 50x, Hyperliquid 5x. Keep about 2× this so a sharp move doesn’t liquidate one leg.
Watch: Payment intervals differ4h / 1h
Payments land at different times. Close right after the slower leg pays.
Next 24h at the current rates, on $10k a leg: −$10.44Long Bybit: 6 payments, −$3.00; short Hyperliquid: 24 payments, −$7.44.
Watch: Gap narrower than usual−0.029% vs +0.009%
Less room for the price leg to pay you. If it goes back to average, the short loses.
Note: Short leg is thinner$2.4M vs $3.6M OI
Both legs are deep; Hyperliquid is the smaller one.
OK: Points on a legHyperliquid Season 2
Volume here counts toward the points program.
Watch: KYCBybit Yes · Hyperliquid No
Standard verification is mandatory for every product.

Profit calculator

both legs, in and out

Position, each leg

Hold for

Orders

Price spread

Funding rate

Funding earned+0.0008%/8h × 21 periods+$1.78

Price spread−0.029% → +0.009% (7d avg)−$3.83

Slippage, 4 orderslive order books−$58.29

Fee Bybit bp × 2 orders−$11.00

Fee Hyperliquid bp × 2 orders−$9.00

Net · 7 days · $10k−$80.34

Costs to cover0.783%Break-even323.6 days

Slippage: Bybit: live order book, 4 min ago; Hyperliquid: live order book, 8 min ago

Cost to enter

taker + slippage from mid, one side

BUY · LONGBybit3.8721.0 bp−$21116.4 bp−$1,164doesn’t fitdoesn’t fit

SELL · SHORTHyperliquid9.6320.0 bp−$2069.5 bp−$695doesn’t fitdoesn’t fit

Closing costs about the same again.

W news

posts that mention W, from every exchange

10-14 03:49	Arcus	Listing	$W perpetuals are now live on Arcus. Up to 5x leverage. @arcus_xyz on X ↗
10-14 03:30	Arcus	Listing	$W perpetuals are now live on Arcus. Up to 5x leverage. @arcus_xyz on X ↗
10-13 19:59	Arcus	Listing	new market W-USD ($W) seen by our collector
10-12 15:17	Aster	Listing	New perp listings: $RSR with up to 5x leverage and $W with up to 10x leverage. @Aster_DEX on X ↗
10-12 14:13	Aster	Listing	new market WUSDT ($W) seen by our collector

W