WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h +0.138%

Price spread now: Hyperliquid against Deribit+0.090%7-day average +0.067% · you sell dearer than you buy

Net, funding: paid 7d − costs+$23as in the Funding arb table

Net, price: spread back to 7d avg − costs−$48as in the Price arb table

costs, in and out, $10k−$510.508% of the position

Long on Deribit Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.735%+$73 on $10k

Price spread, last 3 days (all we have)−0.148%−$15 · spread now +0.090%, 7d avg +0.067%

Together, before fees+0.586%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 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 0.023% dearer against Deribit than usual: you sell high and buy low: +$2 more if the spread goes back to its 7-day average of +0.067%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Deribit WIF_USDC-PERPETUAL	0.2454	0	get 0.0000% / 1h	57m 12s	$48K	$289K	25x
Short	Hyperliquid WIF	0.2456	0.0100	get 0.0013% / 1h	57m 12s	$7.7M	$4.1M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Deribit. 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 DeribitbpFee HyperliquidbpOrdersPrice spread, now +0.090%Rate

Funding earned: $21
Price spread: +0.090% → +0.067%: $2.3
Slippage, 4 orders: −$34.77
Fee Deribit: 3.5 bp × 2 orders: −$7
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$27.48
Costs to cover: 0.508%
Break-even: 16.2 days

Slippage from Deribit: live order book, 16 min ago; Hyperliquid: live order book, 5 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 Deribit live order book, 16 min ago	6.16 bp	13.3 bp −$13	22.3 bp −$223	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 5 min ago	2.44 bp	12.0 bp −$12	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	−0.0557%	1h	0.2450	−0.171%	$75K	$250K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2450	−0.180%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUALlong	0.0000%	1h	0.2454	long leg	$48K	$289K	25x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2454	0.000%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0024%	4h	0.2450	−0.163%	$4.3M	$11.8M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.404%	$10K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2453	−0.024%	$636K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0094%	4h	0.2452	−0.081%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2453	−0.053%	$136K	$563K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2450	−0.163%	$54K	$484K	20x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIFshort	+0.0100%	1h	0.2456	+0.090%	$7.7M	$4.1M	5x
Aster WIFUSDT	+0.0100%	4h	0.2454	−0.006%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2449	−0.190%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2452	−0.096%	$18.4M	$104.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2451	−0.130%	$16.9M	$36.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2450	−0.163%	$6.0M	$32.7M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2452	−0.081%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2453	−0.041%	$22.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2450	−0.163%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2449	−0.204%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2454	−0.013%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2453	−0.041%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2455	+0.041%	$43K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2447	−0.285%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2452	−0.102%	$562	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2450	−0.163%	$169K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2451	−0.111%	$10K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2452	−0.085%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2454	+0.002%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2454	0.000%	$328K	$2.4M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2451	−0.122%	$986K	$739K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2451	−0.105%	$0	—	15x	as long as short