Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0190%/8h= −20.8% APRpaid last 24h −0.019%

Price spread now: KuCoin against Hyperliquid−0.116%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$82as in the Funding arb table

Net, price: spread back to 7d avg − costs−$74as in the Price arb table

costs, in and out, $10k−$680.680% of the position

Long on Hyperliquid Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 7 days−0.140%−$14 on $10k

Price spread, last 7 days+0.181%+$18 · spread now −0.116%, 7d avg −0.054%

Together, before fees+0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$6 a day on $10k at the current rate, and KuCoin is 0.062% cheaper against Hyperliquid than usual: you would sell low and buy high (−$6 if the spread goes back to its 7-day average of −0.054%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2405	0.0100	pay 0.0013% / 1h	42m 58s	$7.5M	$4.0M	5x
Short	KuCoin WIFUSDTM	0.2402	−0.0090	pay 0.0045% / 4h	1h 42m	$4.3M	$11.3M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.116%Rate

Funding earned: −$39.9
Price spread: −0.116% → −0.054%: −$6.23
Slippage, 4 orders: −$46.97
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$114.1
Costs to cover: 0.680%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; KuCoin: live order book, 6 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, 9 min ago	1.25 bp	10.2 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell KuCoin live order book, 6 min ago	2.09 bp	19.1 bp −$19	64.3 bp −$643	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
Backpack WIF_USDC_PERP	−0.0216%	1h	0.2399	−0.220%	$75K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0167%	1h	0.2399	−0.241%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTMshort	−0.0090%	4h	0.2402	−0.116%	$4.3M	$11.3M	75x
dYdX WIF-USD	0.0000%	1h	0.2402	−0.116%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2400	−0.204%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.408%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2399	−0.241%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2401	−0.166%	$135K	$547K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2402	−0.116%	$53K	$483K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2405	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	0.2402	−0.106%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2403	−0.088%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2405	−0.010%	$17.7M	$99.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2404	−0.033%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2403	−0.075%	$6.1M	$30.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2404	−0.033%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2405	+0.008%	$21.5M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2404	−0.033%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2403	−0.075%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2387	−0.729%	$68K	$65K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2399	−0.242%	$273K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2398	−0.283%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2396	−0.366%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2399	−0.220%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2396	−0.366%	$166K	$717K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2405	−0.009%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2398	−0.274%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0194% / S −0.1054%	1h	0.2399	−0.222%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2403	−0.075%	$316K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2400	−0.200%	$972K	$703K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0377%	1h	0.2402	−0.127%	$630K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2401	−0.166%	$0	—	15x	as long as short