Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.026%

Price spread now: Orderly against Hyperliquid+0.060%7-day average −0.084% · you sell dearer than you buy

to open and closeno order booka leg has no order-book sample

Long on Hyperliquid Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.096%−$10 on $10k

Price spread, last 4 days (all we have)−0.050%−$5 · spread now +0.060%, 7d avg −0.084%

Together, before fees−0.147%+ Points / potential airdropHyperliquid: Season 2 · farm board−$15 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: Orderly is 0.144% dearer against Hyperliquid than usual: you sell high and buy low, +$14 on $10k if it goes back to its 7-day average of −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2498	0.0100	pay 0.0013% / 1h	48m 37s	$10.0M	$9.0M	5x
Short	Orderly PERP_WIF_USDC	0.2500	0.0100	get 0.0050% / 4h	3h 48m	$6K	$1.1M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now +0.060%Rate

Funding earned: −$0.03
Price spread: +0.060% → −0.084%: $14.45
Slippage, 4 orders: no order book: not counted
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$0.59
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Hyperliquid: live order book, 4 min ago; Orderly: no order-book sample. Net counts fees only.

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, 4 min ago	1.40 bp	13.4 bp −$13	doesn't fit	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Gate WIF_USDT	−0.0508%	4h	0.2494	−0.180%	$1.4M	$11.3M	50x	as long as short
ApeX Omni WIFUSDT	−0.0439%	1h	0.2490	−0.340%	$35K	$653K	25x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0316% / S +0.0303%	1h	0.2500	+0.060%	$19K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0150%	1h	0.2498	−0.020%	$33K	$274K	25x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2502	+0.140%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2497	−0.077%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2500	+0.077%	$4K	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2501	+0.084%	$145K	$809K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2499	+0.020%	$54K	$580K	20x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2500	+0.060%	$6K	$1.1M	10x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIFlong	+0.0100%	1h	0.2498	long leg	$10.0M	$9.0M	5x
Aster WIFUSDT	+0.0100%	4h	0.2497	−0.055%	$42K	$410K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2498	−0.009%	$77K	$87K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2498	−0.001%	$19.8M	$165.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2499	+0.032%	$17.2M	$55.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2499	+0.020%	$5.8M	$48.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	−0.060%	$24.4M	$15.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2497	−0.060%	$3.9M	$18.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2498	−0.020%	$7.6M	$18.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2494	−0.180%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2498	−0.020%	$84K	$333K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2507	+0.344%	$74K	$364K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2482	−0.667%	$279K	$3.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2494	−0.180%	$2K	$3.3M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2499	+0.036%	$578	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2496	−0.100%	$154K	$943K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2494	−0.165%	$12K	$216K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2500	+0.040%	$83K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2500	+0.060%	$334K	$3.8M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2509	+0.420%	$10K	$28K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	−0.036%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0740%	1h	0.2500	+0.075%	$644K	$2.9M	50x	as long as short