Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.018%

Price spread now: Hyperliquid against HTX+0.275%7-day average −0.423% · you sell dearer than you buy

Net, funding: paid 7d − costs−$104as in the Funding arb table

Net, price: spread back to 7d avg − costs−$17as in the Price arb table

costs, in and out, $10k−$870.869% of the position

Long on HTX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.171%−$17 on $10k

Price spread, last 4 days (all we have)−0.692%−$69 · spread now +0.275%, 7d avg −0.423%

Together, before fees−0.864%+ Points / potential airdropHyperliquid: Season 2 · farm board−$86 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 0.698% dearer against HTX than usual: you sell high and buy low, +$70 on $10k if it goes back to its 7-day average of −0.423%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	HTX WIF-USDT	0.2436	0.0100	pay 0.0050% / 4h	1h 34m	$143K	$897K	75x
Short	Hyperliquid WIF	0.2443	0.0100	get 0.0013% / 1h	34m 32s	$8.5M	$6.4M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against HTX. 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 HTXbpFee HyperliquidbpOrdersPrice spread, now +0.275%Rate

Funding earned: $0
Price spread: +0.275% → −0.423%: $69.77
Slippage, 4 orders: −$65.95
Fee HTX: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$17.18
Costs to cover: 0.869%
Break-even: never at this rate

Slippage from HTX: live order book, 9 min ago; Hyperliquid: live order book, 8 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 HTX live order book, 9 min ago	10.17 bp	31.6 bp −$32	2493.6 bp −$24.9K	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	1.22 bp	13.9 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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	+1.067%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2443	+0.287%	$971K	$919K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0044%	1h	0.2440	+0.168%	$72K	$293K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2441	+0.188%	$13K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2441	+0.205%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2444	+0.345%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0047% / S +0.0253%	1h	0.2441	+0.205%	$20K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2443	+0.287%	$141K	$701K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2442	+0.246%	$52K	$570K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2443	+0.275%	$8.5M	$6.4M	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2442	+0.235%	$31K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2442	+0.229%	$77K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2442	+0.230%	$18.5M	$143.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2441	+0.205%	$16.5M	$47.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2441	+0.205%	$5.5M	$41.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2440	+0.164%	$1.1M	$9.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2441	+0.205%	$22.1M	$12.2M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2439	+0.123%	$4.0M	$16.4M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2441	+0.205%	$7.4M	$15.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2441	+0.205%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2445	+0.352%	$72K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2457	+0.870%	$273K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2457	+0.862%	$45K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2441	+0.205%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2440	+0.164%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2441	+0.205%	$560	$5K	5x	as long as short
HTX WIF-USDTlong	+0.0100%	4h	0.2436	long leg	$143K	$897K	75x
Extended WIF-USD	+0.0104%	1h	0.2440	+0.151%	$10K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2441	+0.191%	$81K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0349%	1h	0.2444	+0.312%	$633K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2444	+0.328%	$323K	$3.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2440	+0.169%	$0	—	15x	as long as short