Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.054%

Price spread now: Hyperliquid against Variational Omni−0.162%7-day average — · you buy dearer than you sell

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

Long on Variational Omni Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropVariational Omni: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Hyperliquid is 0.162% cheaper against Variational Omni than usual: you would sell low and buy high, −$16 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Variational Omni WIF	0.2420	0.0100	pay 0.0050% / 4h	1h 39m	$70K	$67K	—
Short	Hyperliquid WIF	0.2416	0.0100	get 0.0013% / 1h	39m 12s	$7.5M	$4.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Variational Omni. 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 Variational OmnibpFee HyperliquidbpOrdersPrice spread, now −0.162%Rate

Funding earned: $0
Price spread: −0.162% → 0.000%: −$16.2
Slippage, 4 orders: no order book: not counted
Fee Variational Omni: 0 bp × 2 orders: $0
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$25.2
Costs to cover: 0.090%
Break-even: never at this rate

Slippage unknown: Variational Omni: no order-book sample; Hyperliquid: live order book, 3 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 Variational Omni no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 3 min ago	1.66 bp	11.6 bp −$12	doesn't fit	doesn't fit	doesn't fit

Variational Omni: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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	−0.0166%	1h	0.2422	+0.090%	$77K	$239K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0164%	1h	0.2413	−0.298%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0090%	4h	0.2413	−0.298%	$4.3M	$11.4M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2420	−0.024%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2415	−0.234%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.042%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2413	−0.298%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2413	−0.282%	$135K	$548K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2414	−0.257%	$54K	$483K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2416	−0.162%	$7.5M	$4.0M	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2415	−0.230%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2419	−0.068%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2413	−0.298%	$18.0M	$100.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2413	−0.298%	$16.8M	$34.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2413	−0.298%	$6.1M	$31.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2414	−0.257%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2413	−0.298%	$21.6M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2414	−0.257%	$7.5M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2414	−0.257%	—	$65.3M	—	as long as short
Variational Omni WIFlong	+0.0100%	4h	0.2420	long leg	$70K	$67K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2424	+0.157%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2422	+0.073%	$43K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2408	−0.505%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2412	−0.319%	$555	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2410	−0.422%	$167K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2412	−0.336%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2412	−0.319%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0199% / S −0.1088%	1h	0.2414	−0.262%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2414	−0.257%	$316K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2411	−0.381%	$974K	$708K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0375%	1h	0.2414	−0.255%	$630K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2413	−0.309%	$0	—	15x	as long as short