Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0356%/8h= +38.9% APRpaid last 24h +0.020%

Price spread now: Hyperliquid against Gate+0.288%7-day average +0.060% · you sell dearer than you buy

Net, funding: paid 7d − costs−$75as in the Funding arb table

Net, price: spread back to 7d avg − costs−$62as in the Price arb table

costs, in and out, $10k−$850.846% of the position

Long on Gate Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.091%+$9 on $10k

Price spread, last 7 days−0.259%−$26 · spread now +0.288%, 7d avg +0.060%

Together, before fees−0.168%+ Points / potential airdropHyperliquid: Season 2 · farm board−$17 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$11 a day on $10k at the current rate, and Hyperliquid is 0.228% dearer against Gate than usual: you sell high and buy low: +$23 more if the spread goes back to its 7-day average of +0.060%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.091% in total (about 4.8% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Gate WIF_USDT	0.2569	0.0100	pay 0.0050% / 4h	3h 33m	$1.2M	$8.2M	50x
Short	Hyperliquid WIF	0.2576	0.0456	get 0.0057% / 1h	33m 55s	$8.5M	$5.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Gate. 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 GatebpFee HyperliquidbpOrdersPrice spread, now +0.288%Rate

Funding earned: $74.69
Price spread: +0.288% → +0.060%: $22.79
Slippage, 4 orders: −$60.57
Fee Gate: 7.5 bp × 2 orders: −$15
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $12.91
Costs to cover: 0.846%
Break-even: 5.8 days

Slippage from Gate: live order book, 5 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 Gate live order book, 5 min ago	3.89 bp	27.4 bp −$27	56.4 bp −$564	82.9 bp −$8,290	doesn't fit
Sell Hyperliquid live order book, 8 min ago	3.71 bp	11.7 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
BloFin WIF-USDT	−0.0194%	4h	0.2578	+0.350%	$1.1M	$917K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2568	−0.020%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2565	−0.156%	$40K	$263K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2564	−0.186%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	−0.545%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2568	−0.043%	$147K	$652K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2570	+0.039%	$52K	$562K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2570	+0.042%	$45K	$310K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2573	+0.140%	$80K	$64K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2572	+0.115%	$20.4M	$127.0M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2570	+0.039%	$17.6M	$42.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2570	+0.039%	$6.2M	$39.1M	50x	as long as short
Gate WIF_USDTlong	+0.0100%	4h	0.2569	long leg	$1.2M	$8.2M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2571	+0.078%	$23.7M	$11.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2568	−0.039%	$4.4M	$15.1M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2571	+0.078%	$7.9M	$14.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2573	+0.156%	—	$23.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2566	−0.109%	$79K	$303K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2581	+0.469%	$107K	$126K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2562	−0.282%	$285K	$2.5M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2572	+0.117%	$47K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2565	−0.156%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2562	−0.272%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2566	−0.117%	$601	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2566	−0.117%	$170K	$729K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2567	−0.068%	$12K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2554	−0.569%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0117% / S −0.0002%	1h	0.2564	−0.212%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2569	0.000%	$347K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0358%	1h	0.2567	−0.077%	$674K	$2.4M	50x	as long as short
Hyperliquid WIFshort	+0.0456%	1h	0.2576	+0.288%	$8.5M	$5.1M	5x
Reya WIFRUSDPERP	+0.0558%	1h	0.2564	−0.211%	$1	—	15x	as long as short