Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0240%/8h= +26.3% APRpaid last 24h +0.047%

Price spread now: BloFin against Hyperliquid+0.005%47s7-day average +0.082% · you sell dearer than you buy

Net, funding: paid 7d − costs−$31as 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−$430.435% of the position

Long on Hyperliquid Short on BloFin

What this pair did over the last

the charts below follow

Funding, last 7 days+0.123%+$12 on $10k

Price spread, last 4 days (all we have)+0.215%+$22 · spread now +0.005%, 7d avg +0.082%

Together, before fees+0.338%+ Points / potential airdropHyperliquid: Season 2 · farm board+$34 on $10k · with fees, hour by hour

Funding pays, the price is against you. BloFin is 0.076% cheaper against Hyperliquid than usual: you would sell low and buy high (spread +0.005% now, against its 7-day average of +0.082%). If the spread goes back, that is −$8 on $10k: about 25 hours of funding at the current rate (+$7 a day). At the pace of the last 7 days (+0.123% in total) that is about 4.4 days. The two prices were read 47 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.123% in total (about 6.4% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WLFI	0.05804	0.0100	pay 0.0013% / 1h	12m 16s	$10.6M	$1.3M	5x
Short	BloFin WLFI-USDT	0.05804	0.0340	get 0.0170% / 4h	3h 12m	$4.9M	$88K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin against Hyperliquid. 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 HyperliquidbpFee BloFinbpOrdersPrice spread, now +0.005%Rate

Funding earned: $50.4
Price spread: +0.005% → +0.082%: −$7.64
Slippage, 4 orders: −$22.48
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$0.72
Costs to cover: 0.435%
Break-even: 7.1 days

Slippage from Hyperliquid: live order book, 10 min ago; BloFin: live order book, 11 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 Hyperliquid live order book, 10 min ago	0.60 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell BloFin live order book, 11 min ago	2.58 bp	15.3 bp −$15	28.1 bp −$281	78.7 bp −$7,869	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
Reya WLFIRUSDPERP	0.0000%	1h	0.06046	+4.170%	—	—	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05802	−0.025%	$317	—	150x	as long as short
dYdX WLFI-USD	+0.0011%	1h	0.05799	−0.084%	$11K	$970	5x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−1.511%	$6K	$77K	5.5x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0048%	1h	0.05737	−1.149%	$32K	$15K	50x	as long as short
Lighter WLFI	+0.0064%	1h	0.05799	−0.081%	$1.0M	$451K	5x	as long as short
Paradex WLFI-USD-PERP	+0.0097%	8h	0.05801	−0.049%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05803	−0.008%	$82K	$24K	5x	as long as short
Hyperliquid WLFIlong	+0.0100%	1h	0.05804	long leg	$10.6M	$1.3M	5x
Aster WLFIUSDT	+0.0100%	4h	0.05800	−0.064%	$1.6M	$579K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WLFI	+0.0100%	1h	0.05802	−0.024%	$248K	$14K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05808	+0.074%	$140.0M	$42.1M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05802	−0.029%	$21.0M	$19.2M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05802	−0.029%	$7.7M	$13.4M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05805	+0.016%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05803	−0.012%	$3.5M	$3.1M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05807	+0.057%	$13.5M	$20.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05805	+0.022%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05802	−0.029%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05800	−0.064%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05801	−0.047%	$241K	$26K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05795	−0.142%	$452K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05798	−0.102%	$282K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05800	−0.064%	$34K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05810	+0.109%	$39K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05805	+0.022%	$106	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05801	−0.049%	$136K	$480K	10x	as long as short
01 Exchange WLFIUSD	+0.0152%	1h	0.05808	+0.074%	$4K	$319	3x	as long as short
Deribit WLFI_USDC-PERPETUAL	+0.0267%	1h	0.05808	+0.074%	$527	$11K	10x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0298% / S −0.1279%	1h	0.05803	−0.005%	$7K	—	100x	as long as short
Kraken Futures PF_WLFIUSD	+0.0338%	1h	0.05808	+0.077%	$98K	$91K	20x	as long as short
BloFin WLFI-USDTshort	+0.0340%	4h	0.05804	+0.005%	$4.9M	$88K	75x