Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0152%/8h= −16.6% APRpaid last 24h −0.012%

Price spread now: Binance against Hyperliquid−0.146%7-day average −0.072% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$57as in the Price arb table

costs, in and out, $10k−$500.496% of the position

Long on Hyperliquid Short on Binance

What this pair did over the last

the charts below follow

Funding, last 7 days−0.042%−$4 on $10k

Price spread, last 7 days+0.112%+$11 · spread now −0.146%, 7d avg −0.072%

Together, before fees+0.071%+ Points / potential airdropHyperliquid: Season 2 · farm board+$7 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$5 a day on $10k at the current rate, and Binance is 0.074% cheaper against Hyperliquid than usual: you would sell low and buy high (−$7 if the spread goes back to its 7-day average of −0.072%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2461	0.0252	pay 0.0031% / 1h	45m 10s	$7.9M	$4.7M	5x
Short	Binance WIFUSDT	0.2457	0.0100	get 0.0050% / 4h	1h 45m	$18.7M	$114.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against Hyperliquid. 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 HyperliquidbpFee BinancebpOrdersPrice spread, now −0.146%Rate

Funding earned: −$31.82
Price spread: −0.146% → −0.072%: −$7.39
Slippage, 4 orders: −$30.6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$88.82
Costs to cover: 0.496%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Binance: live order book, 13 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 Hyperliquid live order book, 7 min ago	1.01 bp	10.9 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 13 min ago	2.04 bp	13.9 bp −$14	33.3 bp −$333	105.7 bp −$10.6K	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	−0.0212%	1h	0.2455	−0.224%	$75K	$277K	10x	as long as short
BloFin WIF-USDT	−0.0178%	4h	0.2457	−0.146%	$1.0M	$816K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2450	−0.449%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2456	−0.187%	$46K	$261K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2457	−0.133%	$794	—	150x	as long as short
Gate WIF_USDT	+0.0010%	4h	0.2456	−0.187%	$1.2M	$7.5M	50x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.382%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2457	−0.126%	$139K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2459	−0.065%	$56K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2458	−0.106%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2457	−0.133%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2451	−0.386%	$76K	$56K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2457	−0.146%	$18.7M	$114.0M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2456	−0.187%	$16.9M	$38.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2456	−0.187%	$5.9M	$34.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2456	−0.187%	$22.2M	$11.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2456	−0.187%	$4.4M	$13.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2456	−0.187%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2452	−0.350%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2450	−0.428%	$74K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.474%	$271K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2448	−0.512%	$42K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2452	−0.350%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2457	−0.146%	$562	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2452	−0.350%	$164K	$689K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2455	−0.233%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2456	−0.178%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0138%	1h	0.2458	−0.124%	$643K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0159% / S −0.0030%	1h	0.2457	−0.161%	$8K	—	100x	as long as short
Hyperliquid WIFlong	+0.0252%	1h	0.2461	long leg	$7.9M	$4.7M	5x
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2458	−0.106%	$326K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2457	−0.143%	$0	—	15x	as long as short