Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0347%/8h= +38.0% APRpaid last 24h +0.018%

Price spread now: Hyperliquid against Binance+0.072%7-day average +0.074% · you sell dearer than you buy

Net, funding: paid 7d − costs−$45as in the Funding arb table

Net, price: spread back to 7d avg − costs−$50as in the Price arb table

costs, in and out, $10k−$500.497% of the position

Long on Binance Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 7 days−0.025%−$2 · spread now +0.072%, 7d avg +0.074%

Together, before fees+0.023%+ Points / potential airdropHyperliquid: Season 2 · farm board+$2 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of +0.074%, so right now this pair is about funding alone: +$10 a day on $10k at the current rate.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.048% in total (about 2.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2511	0.0100	pay 0.0050% / 4h	2h 56m	$19.8M	$132.4M	75x
Short	Hyperliquid WIF	0.2513	0.0447	get 0.0056% / 1h	56m 06s	$8.8M	$5.6M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Binance. 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 BinancebpFee HyperliquidbpOrdersPrice spread, now +0.072%Rate

Funding earned: $72.86
Price spread: +0.072% → +0.074%: −$0.17
Slippage, 4 orders: −$30.67
Fee Binance: 5 bp × 2 orders: −$10
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: $23.02
Costs to cover: 0.497%
Break-even: 4.8 days

Slippage from Binance: live order book, 2 min ago; Hyperliquid: live order book, 6 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 Binance live order book, 2 min ago	2.00 bp	11.1 bp −$11	26.4 bp −$264	96.4 bp −$9,639	doesn't fit
Sell Hyperliquid live order book, 6 min ago	0.80 bp	15.0 bp −$15	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
BloFin WIF-USDT	−0.0199%	4h	0.2513	+0.088%	$1.1M	$911K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2515	+0.187%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2511	+0.008%	$33K	$272K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2509	−0.071%	—	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2512	+0.056%	$145K	$654K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2511	+0.008%	$53K	$566K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2511	+0.023%	$41K	$313K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2514	+0.129%	$78K	$67K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2511	long leg	$19.8M	$132.4M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2509	−0.060%	$17.3M	$43.8M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2507	−0.151%	$5.9M	$39.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2509	−0.071%	$1.2M	$8.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2508	−0.111%	$23.0M	$11.8M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2509	−0.071%	$4.4M	$15.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2507	−0.151%	$7.7M	$14.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2510	−0.032%	—	$26.7M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2507	−0.139%	$73K	$312K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2500	−0.427%	$86K	$146K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2497	−0.538%	$278K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	−0.629%	$46K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2510	−0.032%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2506	−0.191%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2510	−0.032%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2510	−0.032%	$165K	$738K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0102% / S +0.0026%	1h	0.2509	−0.067%	$9K	—	100x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2509	−0.079%	$11K	$161K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2510	−0.048%	$84K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0238%	1h	0.2512	+0.037%	$656K	$2.4M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2510	−0.032%	$335K	$3.1M	50x	as long as short
Hyperliquid WIFshort	+0.0447%	1h	0.2513	+0.072%	$8.8M	$5.6M	5x
Reya WIFRUSDPERP	+0.0558%	1h	0.2507	−0.167%	$1	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2555	+1.761%	$11K	$10K	12x	as long as short