Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0197%/8h= +21.5% APRpaid last 24h +0.006%

Price spread now: Hyperliquid against Bitget+0.086%7-day average +0.019% · you sell dearer than you buy

Net, funding: paid 7d − costs−$54as in the Funding arb table

Net, price: spread back to 7d avg − costs−$47as in the Price arb table

costs, in and out, $10k−$540.536% of the position

Long on Bitget Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.002%$0 on $10k

Price spread, last 7 days−0.107%−$11 · spread now +0.086%, 7d avg +0.019%

Together, before fees−0.109%+ Points / potential airdropHyperliquid: Season 2 · farm board−$11 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$6 a day on $10k at the current rate, and Hyperliquid is 0.066% dearer against Bitget than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.019%.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.002% in total (about -0.1% 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	Bitget WIFUSDT	0.2482	0.0100	pay 0.0050% / 4h	51m 43s	$7.5M	$12.9M	50x
Short	Hyperliquid WIF	0.2484	0.0297	get 0.0037% / 1h	51m 43s	$8.1M	$4.8M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Bitget. 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 BitgetbpFee HyperliquidbpOrdersPrice spread, now +0.086%Rate

Funding earned: $41.28
Price spread: +0.086% → +0.019%: $6.65
Slippage, 4 orders: −$32.58
Fee Bitget: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$5.65
Costs to cover: 0.536%
Break-even: 8.0 days

Slippage from Bitget: live order book, 2 min ago; Hyperliquid: live order book, 11 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 Bitget live order book, 2 min ago	2.01 bp	17.6 bp −$18	36.6 bp −$366	119.7 bp −$12.0K	doesn't fit
Sell Hyperliquid live order book, 11 min ago	2.61 bp	14.8 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
Backpack WIF_USDC_PERP	−0.0249%	1h	0.2477	−0.181%	$85K	$275K	10x	as long as short
BloFin WIF-USDT	−0.0183%	4h	0.2488	+0.242%	$1.0M	$832K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2482	−0.018%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2479	−0.121%	$47K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2480	−0.066%	$802	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.483%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2483	+0.036%	$139K	$629K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2481	−0.040%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2483	+0.022%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2482	−0.013%	$77K	$57K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2482	+0.016%	$19.1M	$115.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2481	−0.040%	$17.0M	$38.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2481	−0.040%	$5.9M	$35.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2482	0.000%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2482	0.000%	$22.6M	$11.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2479	−0.121%	$4.5M	$13.8M	75x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2482	long leg	$7.5M	$12.9M	50x
BingX WIF-USDT	+0.0100%	4h	0.2482	0.000%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2495	+0.507%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2493	+0.443%	$278K	$2.2M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2478	−0.161%	$43K	$622K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2480	−0.081%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2475	−0.282%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2480	−0.093%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2474	−0.322%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2482	+0.013%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2479	−0.117%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0142% / S −0.0018%	1h	0.2480	−0.077%	$8K	—	100x	as long as short
Kraken Futures PF_WIFUSD	+0.0261%	1h	0.2482	−0.009%	$648K	$2.3M	50x	as long as short
Hyperliquid WIFshort	+0.0297%	1h	0.2484	+0.086%	$8.1M	$4.8M	5x
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2483	+0.040%	$330K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2481	−0.057%	$0	—	15x	as long as short