Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.043%

Price spread now: BloFin against Hyperliquid−0.209%7-day average −0.065% · you buy dearer than you sell

Net, funding: paid 7d − costs−$18as in the Funding arb table

Net, price: spread back to 7d avg − costs−$72as in the Price arb table

costs, in and out, $10k−$580.579% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.402%+$40 on $10k

Price spread, last 3 days (all we have)+0.227%+$23 · spread now −0.209%, 7d avg −0.065%

Together, before fees+0.629%+ Points / potential airdropHyperliquid: Season 2 · farm board+$63 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.144% cheaper against Hyperliquid than usual: you would sell low and buy high (spread −0.209% now, against its 7-day average of −0.065%). If the spread goes back, that is −$14 on $10k: about 2.0 days of funding at the current rate (+$7 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2392	0.0100	pay 0.0013% / 1h	50m 52s	$7.4M	$4.0M	5x
Short	BloFin WIF-USDT	0.2387	0.0340	get 0.0170% / 4h	1h 50m	$965K	$700K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now −0.209%Rate

Funding earned: $50.4
Price spread: −0.209% → −0.065%: −$14.41
Slippage, 4 orders: −$36.86
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$21.88
Costs to cover: 0.579%
Break-even: 10.0 days

Slippage from Hyperliquid: live order book, 11 min ago; BloFin: live order book, 31 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	1.27 bp	13.7 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 31 min ago	6.30 bp	15.0 bp −$15	21.1 bp −$211	49.9 bp −$4,986	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
Deribit WIF_USDC-PERPETUAL	−0.0168%	1h	0.2389	−0.125%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0122%	4h	0.2388	−0.167%	$4.3M	$11.3M	75x	as long as short
Backpack WIF_USDC_PERP	−0.0078%	1h	0.2388	−0.171%	$75K	$235K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2391	−0.051%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2390	−0.084%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	+0.125%	$10K	$10K	12x	as long as short
Variational Omni WIF	+0.0086%	4h	0.2384	−0.322%	$68K	$65K	—	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2389	−0.125%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0094%	4h	0.2390	−0.098%	$25K	$255K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2390	−0.088%	$133K	$543K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2389	−0.125%	$53K	$483K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2392	long leg	$7.4M	$4.0M	5x
Pacifica WIF	+0.0100%	1h	0.2390	−0.099%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2391	−0.042%	$17.7M	$99.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2389	−0.109%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2391	−0.042%	$6.1M	$30.6M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2391	−0.042%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2388	−0.167%	$21.4M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2391	−0.042%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2391	−0.042%	—	$65.1M	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2398	+0.251%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2391	−0.042%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2384	−0.334%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2389	−0.146%	$549	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2388	−0.167%	$165K	$714K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2389	−0.140%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2389	−0.146%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0184% / S −0.0987%	1h	0.2389	−0.112%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2396	+0.167%	$314K	$2.3M	50x	as long as short
BloFin WIF-USDTshort	+0.0340%	4h	0.2387	−0.209%	$965K	$700K	75x
Kraken Futures PF_WIFUSD	+0.0378%	1h	0.2391	−0.038%	$629K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2388	−0.153%	$0	—	15x	as long as short