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 −0.010%

Price spread now: Binance against Hyperliquid−0.062%7-day average −0.071% · you buy dearer than you sell

Net, funding: paid 7d − costs−$51as in the Funding arb table

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

costs, in and out, $10k−$470.474% of the position

Long on Hyperliquid Short on Binance

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+0.010%+$1 · spread now −0.062%, 7d avg −0.071%

Together, before fees−0.029%+ Points / potential airdropHyperliquid: Season 2 · farm board−$3 on $10k · with fees, hour by hour

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2401	0.0100	pay 0.0013% / 1h	32m 24s	$7.4M	$4.0M	5x
Short	Binance WIFUSDT	0.2399	0.0100	get 0.0050% / 4h	1h 32m	$17.8M	$100.7M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.062%Rate

Funding earned: $0
Price spread: −0.062% → −0.071%: $0.89
Slippage, 4 orders: −$28.44
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Binance: 5 bp × 2 orders: −$10
Net: −$46.56
Costs to cover: 0.474%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 10 min ago; Binance: 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 Hyperliquid live order book, 10 min ago	1.66 bp	12.7 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	2.08 bp	13.4 bp −$13	36.5 bp −$365	111.2 bp −$11.1K	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	−0.0283%	1h	0.2399	−0.083%	$76K	$239K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0167%	1h	0.2398	−0.104%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0084%	4h	0.2398	−0.104%	$4.2M	$11.4M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2400	−0.034%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2399	−0.079%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.229%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2399	−0.062%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2401	+0.025%	$135K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2399	−0.062%	$53K	$483K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2401	long leg	$7.4M	$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	0.2399	−0.076%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2402	+0.051%	$76K	$49K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2399	−0.062%	$17.8M	$100.7M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2397	−0.133%	$16.6M	$35.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2399	−0.062%	$6.0M	$31.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2399	−0.062%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2398	−0.104%	$21.4M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2399	−0.062%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2399	−0.062%	—	$65.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2405	+0.197%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2401	+0.006%	$273K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2401	+0.021%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2393	−0.312%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2399	−0.083%	$552	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2395	−0.229%	$166K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2398	−0.121%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2401	+0.022%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0207% / S −0.1148%	1h	0.2399	−0.055%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2404	+0.146%	$317K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2401	+0.021%	$971K	$705K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0377%	1h	0.2402	+0.051%	$627K	$2.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2397	−0.148%	$0	—	15x	as long as short