Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.001%

Price spread now: Hyperliquid against OKX+0.114%7-day average +0.050% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$45as in the Price arb table

costs, in and out, $10k−$520.519% of the position

Long on OKX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.003%$0 on $10k

Price spread, last 7 days−0.064%−$6 · spread now +0.114%, 7d avg +0.050%

Together, before fees−0.067%+ Points / potential airdropHyperliquid: Season 2 · farm board−$7 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 0.064% dearer against OKX than usual: you sell high and buy low, +$6 on $10k if it goes back to its 7-day average of +0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WIF-USDT-SWAP	0.2368	0.0100	pay 0.0050% / 4h	2h 57m	$6.1M	$29.8M	50x
Short	Hyperliquid WIF	0.2371	0.0100	get 0.0013% / 1h	57m 54s	$7.4M	$4.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against OKX. 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 OKXbpFee HyperliquidbpOrdersPrice spread, now +0.114%Rate

Funding earned: $0
Price spread: +0.114% → +0.050%: $6.38
Slippage, 4 orders: −$32.85
Fee OKX: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$45.47
Costs to cover: 0.519%
Break-even: never at this rate

Slippage from OKX: live order book, 1 min ago; Hyperliquid: 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 OKX live order book, 1 min ago	2.11 bp	13.5 bp −$13	35.3 bp −$353	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 4 min ago	0.21 bp	14.8 bp −$15	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
Backpack WIF_USDC_PERP	−0.1097%	1h	0.2366	−0.076%	$70K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.140%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0216%	4h	0.2369	+0.042%	$4.3M	$11.0M	75x	as long as short
Gate WIF_USDT	−0.0168%	4h	0.2369	+0.042%	$1.2M	$6.9M	50x	as long as short
Variational Omni WIF	−0.0135%	4h	0.2371	+0.107%	$67K	$51K	—	as long as short
GRVT WIF_USDT_Perp	−0.0084%	4h	0.2373	+0.211%	$265K	$1.8M	10x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2369	+0.022%	$620K	$2.1M	50x	as long as short
Aster WIFUSDT	−0.0023%	4h	0.2368	+0.002%	$23K	$254K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2366	−0.084%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2369	+0.042%	$48K	$291K	25x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2368	−0.010%	$14K	—	150x	as long as short
ApeX Omni WIFUSDT	+0.0035%	1h	0.2379	+0.465%	$42K	$618K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0089%	4h	0.2366	−0.084%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2367	−0.042%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2367	−0.042%	$52K	$483K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2371	+0.114%	$7.4M	$4.0M	5x
Pacifica WIF	+0.0100%	1h	0.2367	−0.057%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2369	+0.042%	$17.6M	$99.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2369	+0.042%	$16.6M	$34.7M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2368	long leg	$6.1M	$29.8M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2369	+0.042%	$21.3M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2371	+0.127%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2369	+0.042%	—	$64.9M	—	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2362	−0.253%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2366	−0.093%	$534	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2360	−0.338%	$164K	$716K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0103% / S −0.0417%	1h	0.2368	−0.008%	$4K	—	100x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2370	+0.084%	$9K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2366	−0.072%	$79K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2368	0.000%	$308K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2365	−0.127%	$982K	$690K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2367	−0.030%	$0	—	15x	as long as short