Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC+0.0091%/8h= +10.0% APRpaid last 24h +0.010%

Price spread now: Hyperliquid against MEXC+0.290%7-day average +0.075% · you sell dearer than you buy

Net, funding: paid 7d − costs−$36as in the Funding arb table

Net, price: spread back to 7d avg − costs−$18as in the Price arb table

costs, in and out, $10k−$400.399% of the position

Long on MEXC Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.040%+$4 on $10k

Price spread, last 7 days−0.273%−$27 · spread now +0.290%, 7d avg +0.075%

Together, before fees−0.233%+ Points / potential airdropHyperliquid: Season 2 · farm board−$23 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and Hyperliquid is 0.216% dearer against MEXC than usual: you sell high and buy low: +$22 more if the spread goes back to its 7-day average of +0.075%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2479	0.0100	pay 0.0050% / 4h	2h 47m	$22.4M	$11.0M	50x
Short	Hyperliquid WIF	0.2486	0.0191	get 0.0024% / 1h	47m 59s	$8.1M	$4.7M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against MEXC. 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 MEXCbpFee HyperliquidbpOrdersPrice spread, now +0.290%Rate

Funding earned: $19.12
Price spread: +0.290% → +0.075%: $21.56
Slippage, 4 orders: −$26.92
Fee MEXC: 2 bp × 2 orders: −$4
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $0.76
Costs to cover: 0.399%
Break-even: 6.7 days

Slippage from MEXC: live order book, 6 min ago; Hyperliquid: live order book, 4 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 MEXC live order book, 6 min ago	2.02 bp	7.2 bp −$7	19.3 bp −$193	95.0 bp −$9,496	135.1 bp −$67.6K
Sell Hyperliquid live order book, 4 min ago	4.03 bp	12.6 bp −$13	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	−0.0783%	1h	0.2470	−0.363%	$11K	$10K	12x	as long as short
Gate WIF_USDT	−0.0178%	4h	0.2480	+0.040%	$1.2M	$7.3M	50x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2479	−0.017%	$646K	$2.3M	50x	as long as short
KuCoin WIFUSDTM	−0.0036%	4h	0.2479	0.000%	$4.5M	$12.9M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2482	+0.121%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2477	−0.081%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2476	−0.121%	$800	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2480	+0.024%	$147K	$607K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2479	0.000%	$56K	$497K	20x	as long as short
Orderly PERP_WIF_USDC	+0.0099%	4h	0.2477	−0.081%	$5K	$1.3M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2480	+0.053%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	+0.139%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2481	+0.081%	$18.8M	$111.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2479	+0.008%	$17.0M	$37.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2480	+0.040%	$6.0M	$34.6M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2479	long leg	$22.4M	$11.0M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2480	+0.040%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2481	+0.081%	—	$65.9M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2478	−0.040%	$77K	$269K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2475	−0.157%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2476	−0.121%	$275K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2479	0.000%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2473	−0.242%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2478	−0.056%	$563	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2475	−0.161%	$170K	$747K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2478	−0.046%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2478	−0.055%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0179% / S −0.0043%	1h	0.2475	−0.154%	$8K	—	100x	as long as short
Hyperliquid WIFshort	+0.0191%	1h	0.2486	+0.290%	$8.1M	$4.7M	5x
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2484	+0.202%	$327K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2487	+0.323%	$997K	$710K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2474	−0.217%	$0	—	15x	as long as short