Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.029%

Price spread now: Hyperliquid against GRVT+0.586%65s7-day average −0.026% · you sell dearer than you buy

Net, funding: paid 7d − costs−$50as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$530.529% of the position

Long on GRVT Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 7 days−0.553%−$55 · spread now +0.586%, 7d avg −0.026%

Together, before fees−0.522%+ Points / potential airdropGRVT: Active · Hyperliquid: Season 2 · farm board−$52 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 0.612% dearer against GRVT than usual: you sell high and buy low, +$61 on $10k if it goes back to its 7-day average of −0.026%. The two prices were read 65 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GRVT WIF_USDT_Perp	0.2491	0.0100	pay 0.0050% / 4h	1h 08m	$276K	$2.9M	10x
Short	Hyperliquid WIF	0.2506	0.0100	get 0.0013% / 1h	8m 19s	$8.7M	$6.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against GRVT. 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 GRVTbpFee HyperliquidbpOrdersPrice spread, now +0.586%Rate

Funding earned: $0
Price spread: +0.586% → −0.026%: $61.24
Slippage, 4 orders: −$34.85
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $8.39
Costs to cover: 0.529%
Break-even: from the start

Slippage from GRVT: live order book, 5 min ago; Hyperliquid: live order book, 4 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 GRVT live order book, 5 min ago	2.02 bp	20.4 bp −$20	36.6 bp −$366	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	1.40 bp	14.5 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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−1.164%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2504	+0.522%	$984K	$947K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2505	+0.544%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2502	+0.454%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0011%	1h	0.2501	+0.409%	$75K	$297K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0019% / S +0.0191%	1h	0.2503	+0.468%	$17K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2506	+0.598%	$144K	$703K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2504	+0.522%	$53K	$571K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2506	+0.586%	$8.7M	$6.4M	5x
Aster WIFUSDT	+0.0100%	4h	0.2503	+0.482%	$30K	$351K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2505	+0.564%	$79K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2503	+0.482%	$19.1M	$144.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2502	+0.446%	$16.9M	$47.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2503	+0.482%	$5.6M	$42.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2503	+0.482%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2503	+0.482%	$22.6M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2504	+0.522%	$4.4M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2503	+0.482%	$7.6M	$15.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2503	+0.482%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2490	−0.039%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2491	long leg	$276K	$2.9M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2492	+0.040%	$46K	$634K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2503	+0.482%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2499	+0.321%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2503	+0.482%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2498	+0.281%	$149K	$942K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2502	+0.454%	$14K	$169K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2503	+0.482%	$84K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0150%	1h	0.2504	+0.522%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0341%	1h	0.2505	+0.568%	$650K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2504	+0.522%	$331K	$3.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2504	+0.505%	$1	—	15x	as long as short