WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0126%/8h= −13.8% APRnext payment −$0.16 per $10,000 · paid last 24h −0.026%

Price spread now: Kraken Futures against Hyperliquid−0.647%7-day average −0.012% · you buy dearer than you sell

Net, funding: paid 7d − costs−$93as in the Funding arb table

Net, price: spread back to 7d avg − costs−$139as in the Price arb table

costs, in and out, $10k−$750.752% of the position

Long on Hyperliquid Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.174%−$17 on $10k

Price spread, last 3 days (all we have)+0.763%+$76 · spread now −0.647%, 7d avg −0.012%

Together, before fees+0.589%+ Points / potential airdropHyperliquid: Season 2 · farm board+$59 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$4 a day on $10k at the current rate, and Kraken Futures is 0.635% cheaper against Hyperliquid than usual: you would sell low and buy high (−$64 if the spread goes back to its 7-day average of −0.012%). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Hyperliquid WIF	0.2507	0.0165	pay 0.0021% / 1h	35m 42s	$8.0M	$4.3M	5x
Short	Kraken Futures PF_WIFUSD	0.2491	0.0039	get 0.0005% / 1h	35m 42s	$654K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now −0.647%Rate

Funding earned: −$26.5
Price spread: −0.647% → −0.012%: −$63.51
Slippage, 4 orders: −$56.23
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$165.24
Costs to cover: 0.752%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 7 min ago; Kraken Futures: live order book, 3 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, 7 min ago	1.43 bp	11.8 bp −$12	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 3 min ago	10.17 bp	27.7 bp −$28	53.6 bp −$536	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	−0.0357%	1h	0.2502	−0.203%	$77K	$252K	10x	as long as short
Gate WIF_USDT	−0.0098%	4h	0.2501	−0.235%	$1.3M	$7.1M	50x	as long as short
KuCoin WIFUSDTM	−0.0010%	4h	0.2502	−0.195%	$4.5M	$12.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2497	−0.414%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2491	−0.634%	$49K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2491	−0.652%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−4.464%	$10K	$10K	12x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0039%	1h	0.2491	−0.647%	$654K	$2.2M	50x
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2491	−0.634%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2496	−0.435%	$143K	$588K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2489	−0.714%	$56K	$483K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2502	−0.195%	$25K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2496	−0.430%	$77K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2495	−0.483%	$19.2M	$106.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2494	−0.515%	$17.1M	$36.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2493	−0.554%	$6.0M	$33.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	−0.395%	$22.5M	$10.9M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2496	−0.435%	$7.8M	$12.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2494	−0.515%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2488	−0.749%	$74K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2450	−2.269%	$275K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2448	−2.350%	$43K	$632K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2485	−0.874%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2489	−0.714%	$568	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2489	−0.714%	$171K	$742K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2501	−0.246%	$11K	$154K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2490	−0.691%	$83K	$85	3x	as long as short
Hyperliquid WIFlong	+0.0165%	1h	0.2507	long leg	$8.0M	$4.3M	5x
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2491	−0.639%	$7K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2495	−0.475%	$334K	$2.5M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2474	−1.312%	$1.0M	$740K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2490	−0.669%	$0	—	15x	as long as short