Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 20:00 UTC−0.0072%/8hpaid last 24h −0.014%

Price spread now: Hyperliquid against SunX−0.197%7-day average −0.151% · you buy dearer than you sell

Net, funding: paid 7d − costs−$213as in the Funding arb table

Net, price: spread back to 7d avg − costs−$215as in the Price arb table

costs, in and out, $10k−$2112.108% of the position

Long on SunX Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.025%−$3 on $10k

Price spread, last 3 days (all we have)−0.016%−$2 · spread now −0.197%, 7d avg −0.151%

Together, before fees−0.041%+ Points / potential airdropHyperliquid: Season 2 · farm board−$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Hyperliquid is 0.045% cheaper against SunX than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.151%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	SunX WLFI-USDT	0.05740	0.0100	pay 0.0050% / 4h	7m 11s	$38K	$1.7M	20x
Short	Hyperliquid WLFI	0.05729	0.0028	get 0.0003% / 1h	7m 11s	$10.5M	$1.2M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against SunX. 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 SunXbpFee HyperliquidbpOrdersPrice spread, now −0.197%Rate

Funding earned: −$15.21
Price spread: −0.197% → −0.151%: −$4.54
Slippage, 4 orders: −$193.75
Fee SunX: 4 bp × 2 orders: −$8
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$230.51
Costs to cover: 2.108%
Break-even: never at this rate

Slippage from SunX: live order book, 12 min ago; Hyperliquid: 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 SunX live order book, 12 min ago	34.84 bp	94.8 bp −$95	doesn't fit	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 10 min ago	0.35 bp	9.3 bp −$9	doesn't fit	doesn't fit	doesn't fit

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
Aster WLFIUSDT	−0.0391%	4h	0.05732	−0.139%	$1.6M	$566K	20x	as long as short
Kraken Futures PF_WLFIUSD	−0.0367%	1h	0.05734	−0.096%	$72K	$95K	20x	as long as short
Lighter WLFI	−0.0080%	1h	0.05727	−0.226%	$943K	$356K	5x	as long as short
OKX WLFI-USDT-SWAP	−0.0042%	4h	0.05728	−0.209%	$7.5M	$12.3M	50x	as long as short
Paradex WLFI-USD-PERP	−0.0003%	8h	0.05735	−0.094%	$2K	$108	5x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05733	−0.118%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+5.320%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05736	−0.070%	$10K	$624	10x	as long as short
Variational Omni WLFI	+0.0002%	4h	0.05730	−0.166%	$448K	$25K	—	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05732	−0.145%	$313	—	150x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFIshort	+0.0028%	1h	0.05729	−0.197%	$10.5M	$1.2M	5x
Injective WLFI/USDC PERP	+0.0033%	1h	0.05726	−0.244%	$6K	$48K	5.5x	as long as short
01 Exchange WLFIUSD	+0.0088%	1h	0.05734	−0.105%	$4K	$319	3x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05729	−0.200%	$79K	$29K	5x	as long as short
Pacifica WLFI	+0.0100%	1h	0.05730	−0.174%	$243K	$9K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05734	−0.100%	$137.3M	$38.2M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05728	−0.209%	$20.6M	$16.5M	75x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05735	−0.082%	$1K	$10	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05731	−0.157%	$3.4M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05733	−0.122%	$13.9M	$20.5M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05732	−0.139%	$3.2M	$960K	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05730	−0.174%	$8.0M	$3.0M	75x	as long as short
BingX WLFI-USDT	+0.0100%	4h	0.05733	−0.122%	—	$7.2M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05735	−0.087%	$239K	$32K	10x	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05732	−0.142%	$283K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05730	−0.174%	$33K	$42K	50x	as long as short
SunX WLFI-USDTlong	+0.0100%	4h	0.05740	long leg	$38K	$1.7M	20x
SoDEX WLFI-USD	+0.0100%	1h	0.05734	−0.105%	$121	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05728	−0.201%	$132K	$490K	10x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05731	−0.157%	$4.8M	$70K	75x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0342% / S −0.0695%	1h	0.05735	−0.096%	$3K	—	100x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0456%	1h	0.05697	−0.749%	$32K	$16K	50x	as long as short