Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 21:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against Bitget+0.219%7-day average +0.016% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$31as in the Price arb table

costs, in and out, $10k−$510.511% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 7 days−0.196%−$20 · spread now +0.219%, 7d avg +0.016%

Together, before fees−0.203%+ Points / potential airdropHyperliquid: Season 2 · farm board−$20 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 0.203% dearer against Bitget than usual: you sell high and buy low, +$20 on $10k if it goes back to its 7-day average of +0.016%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WIFUSDT	0.2379	0.0100	pay 0.0050% / 4h	3h 04m	$7.2M	$11.6M	50x
Short	Hyperliquid WIF	0.2384	0.0100	get 0.0013% / 1h	4m 27s	$7.4M	$4.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.219%Rate

Funding earned: $0
Price spread: +0.219% → +0.016%: $20.3
Slippage, 4 orders: −$30.11
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$30.82
Costs to cover: 0.511%
Break-even: never at this rate

Slippage from Bitget: live order book, 4 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 Bitget live order book, 4 min ago	2.10 bp	14.9 bp −$15	36.8 bp −$368	115.8 bp −$11.6K	doesn't fit
Sell Hyperliquid live order book, 8 min ago	2.31 bp	12.2 bp −$12	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	−0.0848%	1h	0.2379	−0.017%	$70K	$233K	10x	as long as short
Gate WIF_USDT	−0.0222%	4h	0.2379	0.000%	$1.2M	$6.9M	50x	as long as short
KuCoin WIFUSDTM	−0.0218%	4h	0.2380	+0.042%	$4.4M	$10.9M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0170%	1h	0.2380	+0.042%	$48K	$291K	25x	as long as short
Variational Omni WIF	−0.0125%	4h	0.2389	+0.402%	$68K	$51K	—	as long as short
GRVT WIF_USDT_Perp	−0.0054%	4h	0.2383	+0.168%	$275K	$1.7M	10x	as long as short
Aster WIFUSDT	−0.0008%	4h	0.2383	+0.180%	$23K	$254K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2383	+0.170%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2381	+0.074%	$15K	—	150x	as long as short
SoDEX WIF-USD	+0.0009%	1h	0.2379	+0.021%	$537	$5K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	+0.673%	$10K	$10K	12x	as long as short
ApeX Omni WIFUSDT	+0.0053%	1h	0.2383	+0.168%	$42K	$618K	25x	as long as short
Bybit WIFUSDT	+0.0058%	4h	0.2379	−0.021%	$16.7M	$34.7M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0089%	4h	0.2379	0.000%	$4K	$1.3M	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0096% / S −0.0367%	1h	0.2380	+0.053%	$4K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2382	+0.109%	$132K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2381	+0.084%	$53K	$483K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2384	+0.219%	$7.4M	$4.0M	5x
Pacifica WIF	+0.0100%	1h	0.2382	+0.108%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2379	+0.012%	$17.6M	$98.8M	75x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2378	−0.042%	$6.1M	$29.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2382	+0.126%	$21.6M	$10.8M	50x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2379	long leg	$7.2M	$11.6M	50x
BingX WIF-USDC	+0.0100%	4h	0.2378	−0.042%	—	$2.3M	—	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2378	−0.042%	$1K	$2.8M	50x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2376	−0.126%	$165K	$716K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2380	+0.054%	$9K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2379	−0.020%	$79K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0224%	1h	0.2382	+0.141%	$630K	$2.1M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0296%	1h	0.2383	+0.168%	$310K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2382	+0.126%	$986K	$694K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2380	+0.025%	$0	—	15x	as long as short