Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.010%

Price spread now: Hyperliquid against Bybit−0.056%7-day average +0.011% · you buy dearer than you sell

Net, funding: paid 7d − costs−$32as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$400.404% of the position

Long on Bybit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.081%+$8 on $10k

Price spread, last 7 days+0.088%+$9 · spread now −0.056%, 7d avg +0.011%

Together, before fees+0.169%+ Points / potential airdropHyperliquid: Season 2 · farm board+$17 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 0.066% cheaper against Bybit than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of +0.011%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WLFIUSDT	0.05760	0.0100	pay 0.0050% / 4h	3h 42m	$21.1M	$17.7M	75x
Short	Hyperliquid WLFI	0.05757	0.0100	get 0.0013% / 1h	42m 21s	$10.5M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bybit. 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 BybitbpFee HyperliquidbpOrdersPrice spread, now −0.056%Rate

Funding earned: $0
Price spread: −0.056% → +0.011%: −$6.64
Slippage, 4 orders: −$20.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$47.04
Costs to cover: 0.404%
Break-even: never at this rate

Slippage from Bybit: live order book, 1 min ago; Hyperliquid: live order book, 10 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 Bybit live order book, 1 min ago	0.87 bp	10.5 bp −$11	35.7 bp −$357	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	1.57 bp	8.2 bp −$8	doesn't fit	doesn't fit	doesn't fit

WLFI 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
Kraken Futures PF_WLFIUSD	−0.0109%	1h	0.05759	−0.013%	$73K	$49K	20x	as long as short
Lighter WLFI	−0.0080%	1h	0.05752	−0.139%	$986K	$393K	5x	as long as short
Aster WLFIUSDT	−0.0008%	4h	0.05759	−0.011%	$1.6M	$586K	20x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05753	−0.121%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+4.954%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05759	−0.017%	$523	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05756	−0.061%	$315	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.764%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0085%	8h	0.05761	+0.023%	$2K	$108	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05756	−0.069%	$80K	$26K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFIshort	+0.0100%	1h	0.05757	−0.056%	$10.5M	$1.3M	5x
Pacifica WLFI	+0.0100%	1h	0.05757	−0.054%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05760	−0.006%	$137.9M	$39.6M	75x	as long as short
Bybit WLFIUSDTlong	+0.0100%	4h	0.05760	long leg	$21.1M	$17.7M	75x
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05755	−0.087%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05761	+0.026%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05760	0.000%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05762	+0.035%	$14.3M	$21.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05755	−0.087%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05754	−0.104%	$8.0M	$3.1M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05755	−0.087%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05758	−0.035%	$239K	$28K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05737	−0.406%	$444K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05740	−0.347%	$278K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05740	−0.347%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05760	0.000%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05758	−0.035%	$106	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05755	−0.090%	$134K	$644K	10x	as long as short
01 Exchange WLFIUSD	+0.0112%	1h	0.05761	+0.017%	$4K	$319	3x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	−0.399%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05754	−0.095%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05761	+0.017%	$4.7M	$78K	75x	as long as short