Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.010%

Price spread now: Hyperliquid against Binance+0.031%7-day average +0.071% · you sell dearer than you buy

Net, funding: paid 7d − costs−$47as in the Funding arb table

Net, price: spread back to 7d avg − costs−$55as in the Price arb table

costs, in and out, $10k−$510.512% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days+0.024%+$2 · spread now +0.031%, 7d avg +0.071%

Together, before fees+0.063%+ Points / potential airdropHyperliquid: Season 2 · farm board+$6 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 0.041% cheaper against Binance than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of +0.071%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2371	0.0100	pay 0.0050% / 4h	2h 13m	$17.6M	$99.3M	75x
Short	Hyperliquid WIF	0.2372	0.0100	get 0.0013% / 1h	13m 54s	$7.4M	$4.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.031%Rate

Funding earned: $0
Price spread: +0.031% → +0.071%: −$4.07
Slippage, 4 orders: −$32.2
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$55.27
Costs to cover: 0.512%
Break-even: never at this rate

Slippage from Binance: live order book, 14 min ago; Hyperliquid: live order book, 8 min ago.

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 Binance live order book, 14 min ago	2.11 bp	12.1 bp −$12	25.9 bp −$259	102.5 bp −$10.2K	doesn't fit
Sell Hyperliquid live order book, 8 min ago	3.98 bp	14.6 bp −$15	doesn't fit	doesn't fit	doesn't fit

WIF on 32 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
Backpack WIF_USDC_PERP	−0.0637%	1h	0.2372	+0.031%	$73K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.005%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0186%	4h	0.2371	−0.007%	$4.2M	$11.2M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0171%	1h	0.2375	+0.161%	$47K	$289K	25x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2376	+0.200%	$629K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2376	+0.197%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2375	+0.161%	$14K	—	150x	as long as short
Variational Omni WIF	+0.0006%	4h	0.2370	−0.033%	$76K	$56K	—	as long as short
Aster WIFUSDT	+0.0045%	4h	0.2373	+0.094%	$23K	$254K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0052%	4h	0.2370	−0.048%	$272K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Gate WIF_USDT	+0.0070%	4h	0.2372	+0.035%	$1.2M	$6.9M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2374	+0.119%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2374	+0.132%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2375	+0.161%	$53K	$482K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2372	+0.031%	$7.4M	$4.0M	5x
Pacifica WIF	+0.0100%	1h	0.2377	+0.229%	$75K	$48K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2371	long leg	$17.6M	$99.3M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2373	+0.068%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2369	−0.092%	$6.0M	$30.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2372	+0.035%	$21.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2368	−0.134%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2367	−0.176%	—	$2.3M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2374	+0.119%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2373	+0.077%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2373	+0.081%	$541	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2374	+0.119%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2370	−0.043%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2374	+0.122%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0156% / S −0.0792%	1h	0.2375	+0.157%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2380	+0.372%	$312K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2374	+0.119%	$968K	$686K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2373	+0.092%	$0	—	15x	as long as short