Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0109%/8h= +12.0% APRpaid last 24h +0.002%

Price spread now: Hyperliquid against SunX+0.032%52s7-day average +0.241% · you sell dearer than you buy

Net, funding: paid 7d − costs−$176as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$1751.750% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.007%−$1 on $10k

Price spread, last 3 days (all we have)+0.195%+$20 · spread now +0.032%, 7d avg +0.241%

Together, before fees+0.189%+ Points / potential airdropHyperliquid: Season 2 · farm board+$19 on $10k · with fees, hour by hour

Funding pays, the price is against you. Hyperliquid is 0.210% cheaper against SunX than usual: you would sell low and buy high (spread +0.032% now, against its 7-day average of +0.241%). If the spread goes back, that is −$21 on $10k: about 6.4 days of funding at the current rate (+$3 a day). The two prices were read 52 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WIF-USDT	0.2469	0.0100	pay 0.0050% / 4h	2h 10m	$2K	$2.8M	50x
Short	Hyperliquid WIF	0.2470	0.0209	get 0.0026% / 1h	10m 30s	$8.0M	$4.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now +0.032%Rate

Funding earned: $22.97
Price spread: +0.032% → +0.241%: −$20.95
Slippage, 4 orders: −$158.05
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$173.04
Costs to cover: 1.750%
Break-even: 59.7 days

Slippage from SunX: live order book, 7 min ago; Hyperliquid: live order book, 2 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 SunX live order book, 7 min ago	32.49 bp	89.0 bp −$89	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.82 bp	10.8 bp −$11	doesn't fit	doesn't fit	doesn't fit

WIF on 31 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	+0.041%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2478	+0.345%	$642K	$2.3M	50x	as long as short
Gate WIF_USDT	−0.0020%	4h	0.2468	−0.041%	$1.2M	$7.5M	50x	as long as short
Backpack WIF_USDC_PERP	−0.0018%	1h	0.2474	+0.198%	$81K	$273K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2468	−0.057%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2472	+0.136%	$799	—	150x	as long as short
KuCoin WIFUSDTM	+0.0074%	4h	0.2473	+0.162%	$4.5M	$13.2M	75x	as long as short
Lighter WIF	+0.0096%	1h	0.2471	+0.093%	$139K	$626K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2467	−0.081%	$57K	$496K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2477	+0.324%	$5K	$1.3M	10x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2474	+0.198%	$35K	$278K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2471	+0.063%	$77K	$54K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2468	−0.059%	$18.9M	$113.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2465	−0.182%	$17.0M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2465	−0.162%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2468	−0.041%	$22.0M	$11.2M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2467	−0.081%	$7.5M	$12.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2470	+0.041%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2471	+0.084%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2467	−0.070%	$279K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2464	−0.203%	$42K	$629K	25x	as long as short
SunX WIF-USDTlong	+0.0100%	4h	0.2469	long leg	$2K	$2.8M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2476	+0.288%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2472	+0.122%	$167K	$734K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2466	−0.126%	$8K	$152K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2477	+0.307%	$83K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0154%	1h	0.2476	+0.284%	$49K	$266K	25x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0168% / S −0.0035%	1h	0.2474	+0.198%	$8K	—	100x	as long as short
Hyperliquid WIFshort	+0.0209%	1h	0.2470	+0.032%	$8.0M	$4.7M	5x
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2473	+0.162%	$329K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2465	−0.149%	$0	—	15x	as long as short