WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.01 per $10,000 · paid last 24h +0.003%

Price spread now: Hyperliquid against Lighter−0.122%7-day average +0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$540.538% of the position

Long on Lighter Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.001%$0 on $10k

Price spread, last 4 days (all we have)+0.194%+$19 · spread now −0.122%, 7d avg +0.036%

Together, before fees+0.194%+ Points / potential airdropLighter: Season 3 · Hyperliquid: Season 2 · farm board+$19 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: Hyperliquid is 0.158% cheaper against Lighter than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.036%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Lighter WIF	0.2456	0.0096	pay 0.0012% / 1h	54m 33s	$146K	$596K	10x
Short	Hyperliquid WIF	0.2453	0.0100	get 0.0013% / 1h	54m 33s	$7.9M	$4.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Lighter. 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 LighterbpFee HyperliquidbpOrdersPrice spread, now −0.122%Rate

Funding earned: $0.84
Price spread: −0.122% → +0.036%: −$15.78
Slippage, 4 orders: −$44.79
Fee Lighter: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$68.74
Costs to cover: 0.538%
Break-even: 579.8 days

Slippage from Lighter: live order book, 6 min ago; Hyperliquid: live order book, 8 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 Lighter live order book, 6 min ago	6.36 bp	14.9 bp −$15	90.0 bp −$900	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	2.65 bp	11.4 bp −$11	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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	+0.574%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0206%	4h	0.2451	−0.200%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0075%	1h	0.2448	−0.305%	$638K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0050%	4h	0.2453	−0.118%	$4.5M	$12.8M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2454	−0.093%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2448	−0.322%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2448	−0.303%	$791	—	150x	as long as short
Lighter WIFlong	+0.0096%	1h	0.2456	long leg	$146K	$596K	10x
Popdex WIFUSDT	+0.0096%	1h	0.2449	−0.281%	$55K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2449	−0.281%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIFshort	+0.0100%	1h	0.2453	−0.122%	$7.9M	$4.6M	5x
Aster WIFUSDT	+0.0100%	4h	0.2454	−0.062%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2453	−0.107%	$76K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2449	−0.283%	$18.4M	$110.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2449	−0.289%	$16.8M	$37.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2451	−0.200%	$5.9M	$34.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2450	−0.240%	$22.1M	$11.0M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2450	−0.240%	$7.4M	$12.4M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2445	−0.444%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2448	−0.309%	$77K	$264K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2439	−0.683%	$74K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2451	−0.212%	$278K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2457	+0.045%	$42K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2444	−0.485%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2449	−0.301%	$557	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2446	−0.403%	$167K	$747K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2451	−0.182%	$10K	$159K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2448	−0.322%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0182% / S −0.0044%	1h	0.2449	−0.290%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2449	−0.281%	$320K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2448	−0.322%	$1.0M	$697K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2450	−0.255%	$0	—	15x	as long as short