Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0216%/8h= −23.7% APRpaid last 24h −0.006%

Price spread now: OKX against Hyperliquid−0.144%7-day average −0.054% · you buy dearer than you sell

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$61as in the Price arb table

costs, in and out, $10k−$510.515% of the position

Long on Hyperliquid Short on OKX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days+0.148%+$15 · spread now −0.144%, 7d avg −0.054%

Together, before fees+0.146%+ Points / potential airdropHyperliquid: Season 2 · farm board+$15 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 OKX is 0.090% cheaper against Hyperliquid than usual: you would sell low and buy high (−$9 if the spread goes back to its 7-day average of −0.054%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.002% in total (about -0.1% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2499	0.0316	pay 0.0040% / 1h	30m 02s	$8.1M	$4.9M	5x
Short	OKX WIF-USDT-SWAP	0.2495	0.0100	get 0.0050% / 4h	30m 02s	$6.0M	$36.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

OKX 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 OKXbpOrdersPrice spread, now −0.144%Rate

Funding earned: −$45.42
Price spread: −0.144% → −0.054%: −$9.05
Slippage, 4 orders: −$32.49
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee OKX: 5 bp × 2 orders: −$10
Net: −$105.96
Costs to cover: 0.515%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 2 min ago; OKX: live order book, 4 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, 2 min ago	1.01 bp	12.2 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell OKX live order book, 4 min ago	2.02 bp	13.4 bp −$13	42.5 bp −$425	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	−0.0195%	1h	0.2493	−0.204%	$79K	$289K	10x	as long as short
BloFin WIF-USDT	−0.0182%	4h	0.2488	−0.424%	$1.0M	$827K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2488	−0.442%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2489	−0.384%	$45K	$260K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2489	−0.370%	$805	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.145%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2493	−0.224%	$139K	$630K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2490	−0.344%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2490	−0.357%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2490	−0.341%	$78K	$59K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2495	−0.140%	$18.8M	$118.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2494	−0.196%	$17.0M	$39.6M	50x	as long as short
OKX WIF-USDT-SWAPshort	+0.0100%	4h	0.2495	−0.144%	$6.0M	$36.1M	50x
Gate WIF_USDT	+0.0100%	4h	0.2494	−0.184%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2491	−0.304%	$22.9M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2496	−0.104%	$4.6M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2494	−0.184%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2495	−0.144%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2485	−0.542%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2462	−1.449%	$279K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−1.065%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2489	−0.384%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2485	−0.544%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2491	−0.296%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2486	−0.504%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2491	−0.310%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2489	−0.371%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0135% / S −0.0014%	1h	0.2488	−0.421%	$8K	—	100x	as long as short
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2493	−0.234%	$647K	$2.3M	50x	as long as short
Hyperliquid WIFlong	+0.0316%	1h	0.2499	long leg	$8.1M	$4.9M	5x
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2489	−0.384%	$327K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2487	−0.460%	$0	—	15x	as long as short