Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.012%

Price spread now: Gate against Hyperliquid−0.082%7-day average −0.059% · you buy dearer than you sell

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$79as in the Price arb table

costs, in and out, $10k−$760.764% of the position

Long on Hyperliquid Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days−0.098%−$10 on $10k

Price spread, last 7 days+0.017%+$2 · spread now −0.082%, 7d avg −0.059%

Together, before fees−0.081%+ Points / potential airdropHyperliquid: Season 2 · farm board−$8 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: Gate is 0.023% cheaper against Hyperliquid than usual: you would sell low and buy high, −$2 on $10k if it goes back to its 7-day average of −0.059%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2428	0.0100	pay 0.0013% / 1h	37m 23s	$7.5M	$4.0M	5x
Short	Gate WIF_USDT	0.2426	0.0100	get 0.0050% / 4h	37m 23s	$1.2M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate 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 GatebpOrdersPrice spread, now −0.082%Rate

Funding earned: $0
Price spread: −0.082% → −0.059%: −$2.31
Slippage, 4 orders: −$52.45
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$78.76
Costs to cover: 0.764%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 5 min ago; Gate: live order book, 1 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, 5 min ago	0.41 bp	10.6 bp −$11	doesn't fit	doesn't fit	doesn't fit
Sell Gate live order book, 1 min ago	4.12 bp	28.1 bp −$28	134.7 bp −$1,347	273.6 bp −$27.4K	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	−0.0386%	1h	0.2426	−0.070%	$72K	$249K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2428	−0.012%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2428	0.000%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2426	−0.100%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.359%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	+0.0054%	4h	0.2423	−0.206%	$4.3M	$11.5M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2427	−0.041%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2427	−0.021%	$135K	$568K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2425	−0.124%	$54K	$484K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2428	long leg	$7.5M	$4.0M	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2426	−0.084%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2426	−0.068%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2425	−0.134%	$18.0M	$103.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2426	−0.066%	$16.7M	$35.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2424	−0.165%	$6.0M	$31.9M	50x	as long as short
Gate WIF_USDTshort	+0.0100%	4h	0.2426	−0.082%	$1.2M	$7.0M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2425	−0.124%	$22.0M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2425	−0.124%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2425	−0.124%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2431	+0.132%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2435	+0.288%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2431	+0.124%	$43K	$623K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2427	−0.041%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2428	−0.004%	$556	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2428	0.000%	$168K	$740K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2425	−0.141%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2428	−0.010%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2428	−0.003%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2433	+0.206%	$322K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0321%	1h	0.2431	+0.111%	$635K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2431	+0.124%	$991K	$727K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2423	−0.197%	$0	—	15x	as long as short