Funding arb · Price arb /

WLFI

all WLFI markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0240%/8h= −26.3% APRpaid last 24h −0.033%

Price spread now: Hyperliquid against BloFin−0.323%107s7-day average −0.086% · you buy dearer than you sell

Net, funding: paid 7d − costs−$69as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$580.581% of the position

Long on BloFin Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days−0.113%−$11 on $10k

Price spread, last 3 days (all we have)+0.158%+$16 · spread now −0.323%, 7d avg −0.086%

Together, before fees+0.045%+ Points / potential airdropHyperliquid: Season 2 · farm board+$4 on $10k · with fees, hour by hour

Both sides work against this trade now: funding costs −$7 a day on $10k at the current rate, and Hyperliquid is 0.237% cheaper against BloFin than usual: you would sell low and buy high (−$24 if the spread goes back to its 7-day average of −0.086%). Swap the legs. The two prices were read 107 seconds apart, so part of this spread may be the market moving, not a spread.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.113% in total (about -5.9% a year). A funding rate is set anew for every payment. 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	BloFin WLFI-USDT	0.05764	0.0340	pay 0.0170% / 4h	3h 35m	$4.7M	$77K	75x
Short	Hyperliquid WLFI	0.05745	0.0100	get 0.0013% / 1h	35m 20s	$10.5M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against BloFin. 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 BloFinbpFee HyperliquidbpOrdersPrice spread, now −0.323%Rate

Funding earned: −$50.4
Price spread: −0.323% → −0.086%: −$23.7
Slippage, 4 orders: −$37.07
Fee BloFin: 6 bp × 2 orders: −$12
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$132.17
Costs to cover: 0.581%
Break-even: never at this rate

Slippage from BloFin: live order book, 3 min ago; Hyperliquid: live order book, 7 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 BloFin live order book, 3 min ago	6.08 bp	22.8 bp −$23	37.2 bp −$372	doesn't fit	doesn't fit
Sell Hyperliquid live order book, 7 min ago	0.17 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit

WLFI 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
Kraken Futures PF_WLFIUSD	−0.0110%	1h	0.05741	−0.394%	$73K	$49K	20x	as long as short
Lighter WLFI	−0.0032%	1h	0.05743	−0.364%	$986K	$394K	5x	as long as short
dYdX WLFI-USD	0.0000%	1h	0.05753	−0.198%	$11K	$970	5x	as long as short
Reya WLFIRUSDPERP	0.0000%	1h	0.06045	+4.881%	—	—	—	as long as short
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05745	−0.330%	$521	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05743	−0.357%	$314	—	150x	as long as short
Aster WLFIUSDT	+0.0025%	4h	0.05752	−0.205%	$1.6M	$586K	20x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−0.833%	$6K	$77K	5.5x	as long as short
Paradex WLFI-USD-PERP	+0.0087%	8h	0.05750	−0.243%	$2K	$108	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05748	−0.278%	$80K	$26K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WLFIshort	+0.0100%	1h	0.05745	−0.323%	$10.5M	$1.3M	5x
Pacifica WLFI	+0.0100%	1h	0.05748	−0.279%	$247K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05748	−0.271%	$137.7M	$39.7M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05745	−0.330%	$21.1M	$17.6M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05738	−0.451%	$7.6M	$12.7M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05752	−0.203%	$1K	$753	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05745	−0.330%	$3.5M	$2.8M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05749	−0.260%	$14.3M	$21.4M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05750	−0.243%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05737	−0.468%	$8.0M	$3.2M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05751	−0.226%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05753	−0.191%	$239K	$28K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05749	−0.267%	$445K	$31K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05750	−0.242%	$278K	$1.9M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05760	−0.069%	$33K	$42K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05750	−0.243%	$38K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05743	−0.364%	$106	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05738	−0.445%	$133K	$663K	10x	as long as short
01 Exchange WLFIUSD	+0.0136%	1h	0.05749	−0.260%	$4K	$319	3x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0232%	1h	0.05737	−0.468%	$32K	$16K	50x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0252% / S −0.0496%	1h	0.05743	−0.370%	$3K	—	100x	as long as short
BloFin WLFI-USDTlong	+0.0340%	4h	0.05764	long leg	$4.7M	$77K	75x