WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0112%/8h= −12.3% APRnext payment −$0.14 per $10,000 · paid last 24h −0.035%

Price spread now: Hyperliquid against Coinbase International+0.160%7-day average −0.092% · you sell dearer than you buy

Net, funding: paid 7d − costs−$95as in the Funding arb table

Net, price: spread back to 7d avg − costs−$41as in the Price arb table

costs, in and out, $10k−$660.664% of the position

Long on Coinbase International Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.289%−$29 on $10k

Price spread, last 3 days (all we have)−0.342%−$34 · spread now +0.160%, 7d avg −0.092%

Together, before fees−0.631%+ Points / potential airdropHyperliquid: Season 2 · farm board−$63 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Hyperliquid is 0.252% dearer against Coinbase International than usual: you sell high and buy low (spread +0.160% now, against its 7-day average of −0.092%): +$25 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 7.5 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Coinbase International WIF-PERP-INTX	0.2502	0.0288	pay 0.0036% / 1h	20m 46s	$336K	$2.5M	50x
Short	Hyperliquid WIF	0.2506	0.0176	get 0.0022% / 1h	20m 46s	$8.0M	$4.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Coinbase International. 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 Coinbase InternationalbpFee HyperliquidbpOrdersPrice spread, now +0.160%Rate

Funding earned: −$23.55
Price spread: +0.160% → −0.092%: $25.19
Slippage, 4 orders: −$47.41
Fee Coinbase International: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$64.77
Costs to cover: 0.664%
Break-even: never at this rate

Slippage from Coinbase International: live order book, 3 min ago; Hyperliquid: live order book, 1 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 Coinbase International live order book, 3 min ago	7.95 bp	20.3 bp −$20	33.5 bp −$335	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 1 min ago	4.18 bp	15.4 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	−0.0247%	1h	0.2496	−0.232%	$76K	$254K	10x	as long as short
Gate WIF_USDT	−0.0160%	4h	0.2499	−0.120%	$1.3M	$7.2M	50x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0150%	1h	0.2500	−0.080%	$49K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0044%	4h	0.2498	−0.160%	$4.5M	$12.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2505	+0.140%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2500	−0.061%	$12K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.279%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2501	−0.053%	$656K	$2.3M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2501	−0.056%	$143K	$588K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2499	−0.120%	$57K	$497K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0097%	4h	0.2500	−0.080%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2502	−0.013%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2507	+0.188%	$77K	$52K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2501	−0.040%	$19.3M	$107.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2499	−0.120%	$17.2M	$37.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2499	−0.120%	$6.0M	$34.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2501	−0.040%	$22.6M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2501	−0.040%	$7.6M	$12.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2507	+0.200%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2497	−0.196%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2501	−0.031%	$282K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2513	+0.440%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2495	−0.280%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2499	−0.104%	$568	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2499	−0.120%	$171K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2499	−0.103%	$10K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2499	−0.120%	$83K	$85	3x	as long as short
Hyperliquid WIFshort	+0.0176%	1h	0.2506	+0.160%	$8.0M	$4.2M	5x
GMX WIF/USD [WBTC.b-USDC]	L +0.0190% / S −0.0050%	1h	0.2500	−0.062%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTXlong	+0.0288%	1h	0.2502	long leg	$336K	$2.5M	50x
BloFin WIF-USDT	+0.0340%	4h	0.2500	−0.080%	$1.0M	$709K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	−0.165%	$0	—	15x	as long as short