Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRpaid last 24h −0.001%

Price spread now: Bitget against Hyperliquid−0.158%7-day average −0.017% · you buy dearer than you sell

Net, funding: paid 7d − costs−$55as in the Funding arb table

Net, price: spread back to 7d avg − costs−$70as in the Price arb table

costs, in and out, $10k−$560.559% of the position

Long on Hyperliquid Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.007%+$1 on $10k

Price spread, last 7 days+0.174%+$17 · spread now −0.158%, 7d avg −0.017%

Together, before fees+0.181%+ Points / potential airdropHyperliquid: Season 2 · farm board+$18 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.141% cheaper against Hyperliquid than usual: you would sell low and buy high, −$14 on $10k if it goes back to its 7-day average of −0.017%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2463	0.0100	pay 0.0013% / 1h	3m 32s	$7.7M	$4.1M	5x
Short	Bitget WIFUSDT	0.2459	0.0100	get 0.0050% / 4h	3m 32s	$7.6M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against Hyperliquid. 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 HyperliquidbpFee BitgetbpOrdersPrice spread, now −0.158%Rate

Funding earned: $0
Price spread: −0.158% → −0.017%: −$14.14
Slippage, 4 orders: −$34.94
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$70.08
Costs to cover: 0.559%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 9 min ago; Bitget: 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 Hyperliquid live order book, 9 min ago	1.44 bp	13.8 bp −$14	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 5 min ago	2.05 bp	13.7 bp −$14	27.7 bp −$277	75.0 bp −$7,503	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	−0.0392%	1h	0.2457	−0.244%	$75K	$250K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2460	−0.133%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2461	−0.077%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2461	−0.095%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0020%	4h	0.2458	−0.199%	$4.3M	$11.8M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.757%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0094%	4h	0.2460	−0.118%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2460	−0.134%	$138K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2459	−0.158%	$54K	$484K	20x	as long as short
Hyperliquid WIFlong	+0.0100%	1h	0.2463	long leg	$7.7M	$4.1M	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2461	−0.091%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2460	−0.123%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2459	−0.145%	$18.5M	$104.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2459	−0.175%	$17.0M	$36.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2457	−0.240%	$6.0M	$32.6M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2459	−0.158%	$1.2M	$7.1M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2459	−0.158%	$22.3M	$10.9M	50x	as long as short
Bitget WIFUSDTshort	+0.0100%	4h	0.2459	−0.158%	$7.6M	$11.8M	50x
BingX WIF-USDC	+0.0100%	4h	0.2457	−0.240%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2437	−1.045%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.564%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2449	−0.564%	$43K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2456	−0.280%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2459	−0.158%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2456	−0.280%	$169K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2459	−0.177%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2460	−0.131%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2460	−0.128%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2463	+0.004%	$323K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0317%	1h	0.2461	−0.087%	$638K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2447	−0.646%	$988K	$736K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2457	−0.243%	$0	—	15x	as long as short