Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.018%

Price spread now: SunX against Hyperliquid−0.371%7-day average −0.254% · you buy dearer than you sell

Net, funding: paid 7d − costs−$179as in the Funding arb table

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1781.779% of the position

Long on Hyperliquid Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days−0.010%−$1 on $10k

Price spread, last 4 days (all we have)+0.182%+$18 · spread now −0.371%, 7d avg −0.254%

Together, before fees+0.173%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 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: SunX is 0.117% cheaper against Hyperliquid than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.254%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2399	0.0100	pay 0.0013% / 1h	42m 22s	$8.4M	$6.1M	5x
Short	SunX WIF-USDT	0.2390	0.0100	get 0.0050% / 4h	2h 42m	$2K	$3.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.371%Rate

Funding earned: $0
Price spread: −0.371% → −0.254%: −$11.68
Slippage, 4 orders: −$160.92
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee SunX: 4 bp × 2 orders: −$8
Net: −$189.6
Costs to cover: 1.779%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; SunX: live order book, 5 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, 10 min ago	2.02 bp	12.1 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell SunX live order book, 5 min ago	32.68 bp	61.7 bp −$62	doesn't fit	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
BloFin WIF-USDT	−0.0180%	4h	0.2402	+0.129%	$1.0M	$881K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2403	+0.151%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2394	−0.204%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2392	−0.267%	—	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2405	+0.246%	$144K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2399	+0.004%	$51K	$570K	20x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0096% / S +0.0030%	1h	0.2393	−0.266%	$9K	—	100x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2399	long leg	$8.4M	$6.1M	5x
Aster WIFUSDT	+0.0100%	4h	0.2394	−0.196%	$33K	$330K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2402	+0.117%	$75K	$68K	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	0.2394	−0.204%	$18.7M	$136.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2393	−0.246%	$16.5M	$45.5M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2394	−0.204%	$5.5M	$38.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2393	−0.246%	$1.1M	$8.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2392	−0.288%	$21.7M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2392	−0.288%	$4.0M	$15.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2393	−0.246%	$7.3M	$15.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2392	−0.288%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2401	+0.092%	$70K	$315K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2441	+1.758%	$75K	$156K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2392	−0.297%	$271K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2430	+1.296%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2395	−0.163%	$4K	$1.2M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2390	−0.371%	$2K	$3.0M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2394	−0.183%	$553	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2402	+0.129%	$170K	$772K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2393	−0.250%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2393	−0.246%	$80K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0250%	1h	0.2396	−0.137%	$637K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2405	+0.254%	$330K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2392	−0.280%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2393	−0.246%	$10K	$10K	12x	as long as short