Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Hyperliquid against Binance+0.242%7-day average +0.072% · you sell dearer than you buy

Net, funding: paid 7d − costs−$46as in the Funding arb table

Net, price: spread back to 7d avg − costs−$33as in the Price arb table

costs, in and out, $10k−$500.500% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.039%+$4 on $10k

Price spread, last 7 days−0.176%−$18 · spread now +0.242%, 7d avg +0.072%

Together, before fees−0.137%+ Points / potential airdropHyperliquid: Season 2 · farm board−$14 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 0.170% dearer against Binance than usual: you sell high and buy low, +$17 on $10k if it goes back to its 7-day average of +0.072%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2455	0.0100	pay 0.0050% / 4h	50m 18s	$18.5M	$102.8M	75x
Short	Hyperliquid WIF	0.2461	0.0100	get 0.0013% / 1h	50m 18s	$7.6M	$4.0M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.242%Rate

Funding earned: $0
Price spread: +0.242% → +0.072%: $17
Slippage, 4 orders: −$30.97
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$32.97
Costs to cover: 0.500%
Break-even: never at this rate

Slippage from Binance: live order book, 8 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 Binance live order book, 8 min ago	2.04 bp	12.4 bp −$12	22.0 bp −$220	105.7 bp −$10.6K	doesn't fit
Sell Hyperliquid live order book, 2 min ago	1.62 bp	14.1 bp −$14	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	−0.0423%	1h	0.2458	+0.124%	$73K	$249K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0158%	1h	0.2453	−0.092%	$48K	$289K	25x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2461	+0.217%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2456	+0.012%	$15K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0016%	4h	0.2457	+0.071%	$4.3M	$11.4M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.454%	$10K	$10K	12x	as long as short
ApeX Omni WIFUSDT	+0.0083%	1h	0.2466	+0.438%	$43K	$620K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2454	−0.051%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2461	+0.234%	$138K	$562K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2458	+0.112%	$54K	$484K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIFshort	+0.0100%	1h	0.2461	+0.242%	$7.6M	$4.0M	5x
Aster WIFUSDT	+0.0100%	4h	0.2460	+0.191%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2461	+0.227%	$78K	$49K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2455	long leg	$18.5M	$102.8M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2454	−0.072%	$16.9M	$35.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2453	−0.092%	$6.1M	$32.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2455	−0.010%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2455	−0.010%	$22.3M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2454	−0.051%	$7.6M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2454	−0.051%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2462	+0.283%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2470	+0.584%	$275K	$1.8M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2454	−0.051%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2453	−0.092%	$562	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2459	+0.152%	$169K	$722K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2453	−0.111%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2454	−0.045%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2455	−0.019%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2463	+0.315%	$333K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0318%	1h	0.2456	+0.024%	$655K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2459	+0.152%	$997K	$729K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2457	+0.058%	$0	—	15x	as long as short