Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: BingX against Hyperliquid−0.143%7-day average −0.057% · you buy dearer than you sell

Net, funding: paid 7d − costs−$44as in the Funding arb table

Net, price: spread back to 7d avg − costs−$54as in the Price arb table

costs, in and out, $10k−$450.451% of the position

Long on Hyperliquid Short on BingX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 7 days+0.089%+$9 · spread now −0.143%, 7d avg −0.057%

Together, before fees+0.097%+ Points / potential airdropHyperliquid: Season 2 · farm board+$10 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: BingX is 0.086% cheaper against Hyperliquid than usual: you would sell low and buy high, −$9 on $10k if it goes back to its 7-day average of −0.057%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2374	0.0100	pay 0.0013% / 1h	41m 20s	$7.4M	$4.0M	5x
Short	BingX WIF-USDT	0.2371	0.0100	get 0.0050% / 4h	2h 41m	—	$65.0M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.143%Rate

Funding earned: $0
Price spread: −0.143% → −0.057%: −$8.58
Slippage, 4 orders: −$26.08
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BingX: 5 bp × 2 orders: −$10
Net: −$53.66
Costs to cover: 0.451%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 11 min ago; BingX: live order book, 3 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, 11 min ago	1.05 bp	10.1 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 3 min ago	4.23 bp	9.2 bp −$9	14.9 bp −$149	67.3 bp −$6,732	537.1 bp −$268.6K

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	−0.0809%	1h	0.2370	−0.202%	$72K	$233K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.868%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0206%	4h	0.2369	−0.227%	$4.2M	$11.1M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0171%	1h	0.2373	−0.059%	$47K	$289K	25x	as long as short
Variational Omni WIF	−0.0093%	4h	0.2361	−0.585%	$67K	$47K	—	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2373	−0.069%	$621K	$2.1M	50x	as long as short
Gate WIF_USDT	−0.0042%	4h	0.2371	−0.143%	$1.2M	$6.9M	50x	as long as short
GRVT WIF_USDT_Perp	−0.0024%	4h	0.2360	−0.625%	$263K	$1.8M	10x	as long as short
Aster WIFUSDT	0.0000%	4h	0.2372	−0.117%	$23K	$254K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2371	−0.146%	$18K	$582	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2373	−0.068%	$14K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2372	−0.101%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2371	−0.164%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2371	−0.143%	$53K	$482K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2374	long leg	$7.4M	$4.0M	5x
Pacifica WIF	+0.0100%	1h	0.2371	−0.156%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2372	−0.096%	$17.5M	$99.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2371	−0.143%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2373	−0.059%	$6.0M	$29.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2371	−0.143%	$21.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2371	−0.143%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDTshort	+0.0100%	4h	0.2371	−0.143%	—	$65.0M	—
ApeX Omni WIFUSDT	+0.0100%	1h	0.2361	−0.564%	$41K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2368	−0.270%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2372	−0.114%	$536	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2366	−0.354%	$164K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2371	−0.150%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2371	−0.122%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0124% / S −0.0562%	1h	0.2373	−0.063%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2375	+0.025%	$310K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2366	−0.354%	$976K	$689K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2372	−0.122%	$0	—	15x	as long as short