WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0286%/8h= −31.3% APRnext payment −$0.36 per $10,000 · paid last 24h −0.011%

Price spread now: Lighter against Hyperliquid−0.083%7-day average −0.036% · you buy dearer than you sell

Net, funding: paid 7d − costs−$49as in the Funding arb table

Net, price: spread back to 7d avg − costs−$52as in the Price arb table

costs, in and out, $10k−$480.479% of the position

Long on Hyperliquid Short on Lighter

What this pair did over the last

the charts below follow

Funding, last 7 days−0.009%−$1 on $10k

Price spread, last 4 days (all we have)+0.020%+$2 · spread now −0.083%, 7d avg −0.036%

Together, before fees+0.010%+ Points / potential airdropHyperliquid: Season 2 · Lighter: Season 3 · farm board+$1 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$9 a day on $10k at the current rate, and Lighter is 0.046% cheaper against Hyperliquid than usual: you would sell low and buy high (−$5 if the spread goes back to its 7-day average of −0.036%). Swap the legs.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.009% in total (about -0.5% a year). A funding rate is set anew for every payment; at this rate the next one is about −$0.36 per $10,000. 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	Hyperliquid WIF	0.2545	0.0454	pay 0.0057% / 1h	53m 48s	$8.3M	$5.0M	5x
Short	Lighter WIF	0.2542	0.0168	get 0.0021% / 1h	53m 48s	$139K	$628K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Lighter 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 LighterbpOrdersPrice spread, now −0.083%Rate

Funding earned: −$60.01
Price spread: −0.083% → −0.036%: −$4.62
Slippage, 4 orders: −$38.85
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Fee Lighter: 0 bp × 2 orders: $0
Net: −$112.49
Costs to cover: 0.479%
Break-even: never at this rate

Slippage from Hyperliquid: live order book, 8 min ago; Lighter: live order book, 57 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, 8 min ago	2.56 bp	7.4 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell Lighter live order book, 57 min ago	3.22 bp	10.8 bp −$11	59.4 bp −$594	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	−0.0212%	4h	0.2561	+0.648%	$1.0M	$909K	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0144%	1h	0.2539	−0.216%	$46K	$256K	25x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2545	+0.020%	$15K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2543	−0.059%	$822	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2542	−0.098%	$11K	$10K	12x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2546	+0.059%	$51K	$543K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2542	−0.112%	$36K	$299K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2556	+0.445%	$79K	$62K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2542	−0.083%	$19.9M	$123.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2545	+0.020%	$17.4M	$41.6M	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	0.2548	+0.138%	$6.1M	$38.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2539	−0.216%	$1.2M	$7.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2539	−0.216%	$23.5M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2539	−0.216%	$4.4M	$14.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2540	−0.177%	$7.7M	$13.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2541	−0.138%	—	$23.5M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2537	−0.291%	$78K	$302K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2556	+0.434%	$95K	$83K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2538	−0.239%	$288K	$2.4M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2540	−0.177%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2535	−0.373%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2539	−0.216%	$587	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2537	−0.295%	$169K	$711K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2538	−0.244%	$10K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	−0.118%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0124% / S −0.0006%	1h	0.2542	−0.088%	$8K	—	100x	as long as short
Lighter WIFshort	+0.0168%	1h	0.2542	−0.083%	$139K	$628K	10x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2546	+0.059%	$346K	$2.9M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0362%	1h	0.2539	−0.202%	$656K	$2.3M	50x	as long as short
Hyperliquid WIFlong	+0.0454%	1h	0.2545	long leg	$8.3M	$5.0M	5x
Reya WIFRUSDPERP	+0.0558%	1h	0.2543	−0.075%	$1	—	15x	as long as short
ApeX Omni WIFUSDT	+0.0833%	1h	0.2535	−0.373%	$46K	$624K	25x	as long as short