Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.039%

Price spread now: Hyperliquid against KuCoin+0.102%7-day average +0.064% · you sell dearer than you buy

Net, funding: paid 7d − costs−$51as in the Funding arb table

Net, price: spread back to 7d avg − costs−$64as in the Price arb table

costs, in and out, $10k−$670.674% of the position

Long on KuCoin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days+0.161%+$16 on $10k

Price spread, last 7 days−0.130%−$13 · spread now +0.102%, 7d avg +0.064%

Together, before fees+0.031%+ Points / potential airdropHyperliquid: Season 2 · farm board+$3 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: Hyperliquid is 0.038% dearer against KuCoin than usual: you sell high and buy low, +$4 on $10k if it goes back to its 7-day average of +0.064%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WIFUSDTM	0.2539	0.0100	pay 0.0050% / 4h	14m 18s	$4.3M	$17.2M	75x
Short	Hyperliquid WIF	0.2542	0.0100	get 0.0013% / 1h	14m 18s	$8.8M	$6.9M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against KuCoin. Falling: the short leg gains. Rising: it loses.

latest

Price spreadloading…

Funding on every exchange

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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 KuCoinbpFee HyperliquidbpOrdersPrice spread, now +0.102%Rate

Funding earned: $0
Price spread: +0.102% → +0.064%: $3.79
Slippage, 4 orders: −$46.38
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$63.59
Costs to cover: 0.674%
Break-even: never at this rate

Slippage from KuCoin: live order book, 4 min ago; Hyperliquid: live order book, 8 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 KuCoin live order book, 4 min ago	3.99 bp	23.5 bp −$24	66.7 bp −$667	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 8 min ago	0.80 bp	10.2 bp −$10	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
GMX WIF/USD [WBTC.b-USDC]	L −0.0182% / S +0.0276%	1h	0.2533	−0.217%	$20K	—	100x	as long as short
Injective WIF/USDC PERP	−0.0161%	1h	0.2462	−3.033%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2533	−0.236%	$1.0M	$960K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2536	−0.099%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2542	+0.118%	$34K	$275K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2541	+0.059%	$4K	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0025%	1h	0.2536	−0.134%	$76K	$310K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2538	−0.028%	$145K	$711K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2538	−0.039%	$55K	$576K	20x	as long as short
Hyperliquid WIFshort	+0.0100%	1h	0.2542	+0.102%	$8.8M	$6.9M	5x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2541	+0.074%	$30K	$352K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2537	−0.067%	$79K	$74K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2541	+0.078%	$19.5M	$149.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2540	+0.032%	$17.0M	$49.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2540	+0.039%	$5.7M	$44.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2540	+0.039%	$1.2M	$9.5M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2541	+0.079%	$22.7M	$12.6M	50x	as long as short
KuCoin WIFUSDTMlong	+0.0100%	4h	0.2539	long leg	$4.3M	$17.2M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2540	+0.039%	$7.7M	$16.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2540	+0.039%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2517	−0.862%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2508	−1.223%	$283K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2513	−1.024%	$45K	$641K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2542	+0.118%	$6K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2537	−0.079%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2541	+0.075%	$584	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2528	−0.433%	$160K	$912K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2539	−0.004%	$10K	$181K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2541	+0.085%	$85K	$85	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2542	+0.118%	$337K	$3.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2530	−0.368%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0798%	1h	0.2542	+0.114%	$661K	$2.7M	50x	as long as short