WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0311%/8h= +34.1% APRnext payment +$0.39 per $10,000 · paid last 24h +0.117%

Price spread now: Hyperliquid against Deribit+0.129%7-day average +0.070% · you sell dearer than you buy

Net, funding: paid 7d − costs+$28as in the Funding arb table

Net, price: spread back to 7d avg − costs−$38as in the Price arb table

costs, in and out, $10k−$440.442% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.722%+$72 on $10k

Price spread, last 4 days (all we have)−0.134%−$13 · spread now +0.129%, 7d avg +0.070%

Together, before fees+0.589%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$9 a day on $10k at the current rate, and Hyperliquid is 0.059% dearer against Deribit than usual: you sell high and buy low: +$6 more if the spread goes back to its 7-day average of +0.070%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2487	0	get 0.0000% / 1h	30m 51s	$45K	$260K	25x
Short	Hyperliquid WIF	0.2490	0.0311	get 0.0039% / 1h	30m 51s	$8.1M	$4.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now +0.129%Rate

Funding earned: $65.35
Price spread: +0.129% → +0.070%: $5.87
Slippage, 4 orders: −$28.21
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $27.01
Costs to cover: 0.442%
Break-even: 4.1 days

Slippage from Deribit: live order book, 28 min ago; Hyperliquid: live order book, 11 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 Deribit live order book, 28 min ago	6.05 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 11 min ago	0.20 bp	12.1 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	−0.0205%	1h	0.2484	−0.125%	$79K	$289K	10x	as long as short
BloFin WIF-USDT	−0.0182%	4h	0.2488	+0.040%	$1.0M	$827K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2486	−0.040%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2487	long leg	$45K	$260K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2488	+0.055%	$804	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.684%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2489	+0.076%	$139K	$630K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2487	0.000%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2486	−0.025%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2488	+0.021%	$78K	$59K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2490	+0.114%	$18.8M	$118.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2489	+0.084%	$17.0M	$39.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2491	+0.161%	$6.0M	$36.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2489	+0.080%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2489	+0.080%	$22.9M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2490	+0.121%	$4.5M	$14.3M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2490	+0.121%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2489	+0.080%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2485	−0.078%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2462	−0.989%	$279K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−0.603%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2487	0.000%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2483	−0.161%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2487	+0.020%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2484	−0.121%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2489	+0.084%	$8K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2487	−0.008%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0136% / S −0.0014%	1h	0.2488	+0.022%	$8K	—	100x	as long as short
Kraken Futures PF_WIFUSD	+0.0261%	1h	0.2488	+0.056%	$646K	$2.3M	50x	as long as short
Hyperliquid WIFshort	+0.0311%	1h	0.2490	+0.129%	$8.1M	$4.9M	5x
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2489	+0.080%	$326K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2487	+0.004%	$0	—	15x	as long as short