Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya−5.288%7-day average — · you buy dearer than you sell

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

Long on Reya Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 5.288% cheaper against Reya than usual: you would sell low and buy high (spread −5.288% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$529 on $10k: about 6 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLFIRUSDPERP	0.06045	0	get 0.0000% / 1h	6m 19s	—	—	—
Short	Hyperliquid WLFI	0.05726	0.0100	get 0.0013% / 1h	6m 19s	$10.4M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now −5.288%Rate

Funding earned: $21
Price spread: −5.288% → 0.000%: −$528.82
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$522.82
Costs to cover: 0.150%
Break-even: 181.3 days

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 6 min ago. 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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 6 min ago	0.44 bp	7.9 bp −$8	doesn't fit	doesn't fit	doesn't fit

Reya: 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.

WLFI 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
Coinbase International WLFI-PERP-INTX	−0.0200%	1h	0.05737	−5.103%	$32K	$15K	50x	as long as short
Kraken Futures PF_WLFIUSD	−0.0154%	1h	0.05733	−5.171%	$99K	$87K	20x	as long as short
Lighter WLFI	−0.0048%	1h	0.05721	−5.368%	$1.0M	$433K	5x	as long as short
Aster WLFIUSDT	−0.0008%	4h	0.05728	−5.250%	$1.6M	$575K	20x	as long as short
Reya WLFIRUSDPERPlong	0.0000%	1h	0.06045	long leg	—	—	—
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05729	−5.235%	$520	$11K	10x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05734	−5.161%	$11K	$970	5x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05729	−5.239%	$313	—	150x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−5.450%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0082%	8h	0.05730	−5.218%	$2K	$118	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFIshort	+0.0100%	1h	0.05726	−5.288%	$10.4M	$1.3M	5x
Pacifica WLFI	+0.0100%	1h	0.05729	−5.239%	$246K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05729	−5.235%	$137.8M	$40.7M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05723	−5.335%	$20.8M	$18.4M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05725	−5.301%	$7.6M	$12.8M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05734	−5.148%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05727	−5.268%	$3.4M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05730	−5.219%	$13.7M	$21.8M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05732	−5.186%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05725	−5.301%	$7.9M	$3.3M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05728	−5.252%	—	$7.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05732	−5.186%	$238K	$27K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05731	−5.196%	$447K	$41K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05737	−5.109%	$275K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05730	−5.219%	$33K	$39K	50x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05727	−5.260%	$81K	$25K	5x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05730	−5.219%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05727	−5.268%	$117	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05723	−5.334%	$133K	$485K	10x	as long as short
01 Exchange WLFIUSD	+0.0112%	1h	0.05730	−5.219%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05726	−5.293%	$3K	—	100x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05734	−5.153%	$4.8M	$82K	75x	as long as short