Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.071%

Price spread now: Variational Omni against Hyperliquid+0.138%7-day average −0.103% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.082%−$8 on $10k

Price spread, last 4 days (all we have)+0.954%+$95 · spread now +0.138%, 7d avg −0.103%

Together, before fees+0.872%+ Points / potential airdropHyperliquid: Season 2 · Variational Omni: Active · farm board+$87 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: Variational Omni is 0.241% dearer against Hyperliquid than usual: you sell high and buy low, +$24 on $10k if it goes back to its 7-day average of −0.103%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2498	0.0100	pay 0.0013% / 1h	24m 22s	$8.7M	$6.9M	5x
Short	Variational Omni WIF	0.2501	0.0100	get 0.0050% / 4h	24m 22s	$74K	$193K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Hyperliquid. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 Variational OmnibpOrdersPrice spread, now +0.138%Rate

Funding earned: $0
Price spread: +0.138% → −0.103%: $24.07
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Variational Omni: 0 bp × 2 orders: $0
Net: $15.07
Costs to cover: 0.090%
Break-even: from the start

Slippage unknown: Hyperliquid: live order book, 8 min ago; Variational Omni: RFQ quote, 65 min ago. Net counts fees only.

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, 8 min ago	1.79 bp	9.7 bp −$10	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni RFQ quote, 65 min ago	8.15 bp	doesn't fit	28.5 bp −$285	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
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−1.425%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2511	+0.537%	$1.0M	$952K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0130% / S +0.0266%	1h	0.2512	+0.588%	$20K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2500	+0.076%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2499	+0.056%	$33K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2512	+0.589%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0075%	1h	0.2505	+0.284%	$75K	$309K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2505	+0.284%	$143K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2497	−0.024%	$54K	$576K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2498	long leg	$8.7M	$6.9M	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2499	+0.047%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2501	+0.140%	$78K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2499	+0.056%	$19.1M	$148.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2497	−0.008%	$16.7M	$49.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2497	−0.024%	$5.7M	$43.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2497	−0.024%	$1.2M	$9.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2496	−0.064%	$22.3M	$12.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2498	+0.016%	$4.2M	$17.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2498	+0.016%	$7.6M	$16.2M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2499	+0.056%	—	$27.1M	—	as long as short
Variational Omni WIFshort	+0.0100%	4h	0.2501	+0.138%	$74K	$193K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2512	+0.590%	$283K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2512	+0.577%	$45K	$640K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2499	+0.056%	$6K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2495	−0.104%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2500	+0.080%	$575	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2503	+0.216%	$159K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2497	−0.010%	$12K	$176K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2499	+0.063%	$83K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2503	+0.216%	$335K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	−0.003%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0811%	1h	0.2501	+0.140%	$653K	$2.7M	50x	as long as short