Funding arb · Price arb /

WLFI

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC+0.0100%/8h= +10.9% APRnext payment +$0.13 per $10,000 · paid last 24h —

Price spread now: Hyperliquid against Reya−4.046%7-day average — · you buy dearer than you sell

to open and closeno order booka leg has no order-book sample

Long on Reya Short on Hyperliquid

What this pair did over the last

the charts below follow

Funding, last 7 days—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—+ Points / potential airdropReya: Active · Hyperliquid: Season 2 · farm boardneeds both histories

Funding pays, the price is against you. Hyperliquid is 4.046% cheaper against Reya than usual: you would sell low and buy high (spread −4.046% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$405 on $10k: about 4 months of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Reya WLFIRUSDPERP	0.06046	0	get 0.0000% / 1h	25m 15s	—	—	—
Short	Hyperliquid WLFI	0.05801	0.0100	get 0.0013% / 1h	25m 15s	$10.6M	$1.3M	5x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Hyperliquid against Reya. 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 ReyabpFee HyperliquidbpOrdersPrice spread, now −4.046%Rate

Funding earned: $21
Price spread: −4.046% → 0.000%: −$404.6
Slippage, 4 orders: no order book: not counted
Fee Reya: 3 bp × 2 orders: −$6
Fee Hyperliquid: 4.5 bp × 2 orders: −$9
Net: −$398.6
Costs to cover: 0.150%
Break-even: 139.9 days

Slippage unknown: Reya: no order-book sample; Hyperliquid: live order book, 7 min ago. Net counts fees only.

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 Reya no order-book sample	—	—	—	—	—
Sell Hyperliquid live order book, 7 min ago	0.95 bp	9.6 bp −$10	doesn't fit	doesn't fit	doesn't fit

Reya: no order-book sample. Either the market is below $100k of open interest and volume (not sampled), or the venue executes at an oracle price and its slippage is not modeled here: see the venue's docs.

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
Reya WLFIRUSDPERPlong	0.0000%	1h	0.06046	long leg	—	—	—
Deribit WLFI_USDC-PERPETUAL	0.0000%	1h	0.05806	−3.963%	$527	$11K	10x	as long as short
gTrade (Gains Network) WLFI/USD	L +0.0005% / S −0.0005%	1h	0.05804	−3.989%	$317	—	150x	as long as short
dYdX WLFI-USD	+0.0016%	1h	0.05804	−3.990%	$11K	$970	5x	as long as short
Injective WLFI/USDC PERP	+0.0033%	1h	0.05716	−5.452%	$6K	$77K	5.5x	as long as short
Coinbase International WLFI-PERP-INTX	+0.0048%	1h	0.05737	−5.105%	$32K	$15K	50x	as long as short
Lighter WLFI	+0.0064%	1h	0.05797	−4.112%	$1.0M	$450K	5x	as long as short
Aster WLFIUSDT	+0.0069%	4h	0.05801	−4.040%	$1.6M	$577K	20x	as long as short
Paradex WLFI-USD-PERP	+0.0098%	8h	0.05801	−4.052%	$2K	$118	5x	as long as short
Nado WLFI-PERP	+0.0100%	1h	0.05801	−4.038%	$82K	$24K	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	0.05801	−4.046%	$10.6M	$1.3M	5x
Pacifica WLFI	+0.0100%	1h	0.05801	−4.039%	$249K	$13K	5x	as long as short
Binance WLFIUSDT	+0.0100%	4h	0.05803	−4.010%	$139.9M	$41.8M	75x	as long as short
Bybit WLFIUSDT	+0.0100%	4h	0.05799	−4.079%	$21.1M	$19.1M	75x	as long as short
OKX WLFI-USDT-SWAP	+0.0100%	4h	0.05801	−4.046%	$7.7M	$13.3M	50x	as long as short
Arcus WLFI-USD	+0.0100%	1h	0.05803	−4.010%	$7K	$8K	5x	as long as short
Gate WLFI_USDT	+0.0100%	4h	0.05803	−4.013%	$3.5M	$3.0M	75x	as long as short
MEXC WLFI_USDT	+0.0100%	4h	0.05802	−4.029%	$13.5M	$20.7M	100x	as long as short
KuCoin WLFIUSDTM	+0.0100%	4h	0.05805	−3.980%	$3.3M	$1.1M	75x	as long as short
Bitget WLFIUSDT	+0.0100%	4h	0.05802	−4.029%	$7.9M	$3.5M	75x	as long as short
BingX WLFI-USDC	+0.0100%	4h	0.05801	−4.046%	—	$2.3M	—	as long as short
Backpack WLFI_USDC_PERP	+0.0100%	1h	0.05808	−3.930%	$242K	$26K	10x	as long as short
Variational Omni WLFI	+0.0100%	4h	0.05801	−4.039%	$453K	$40K	—	as long as short
GRVT WLFI_USDT_Perp	+0.0100%	4h	0.05798	−4.093%	$278K	$1.8M	10x	as long as short
ApeX Omni WLFIUSDT	+0.0100%	1h	0.05790	−4.228%	$34K	$38K	50x	as long as short
SunX WLFI-USDT	+0.0100%	4h	0.05810	−3.897%	$39K	$1.7M	20x	as long as short
SoDEX WLFI-USD	+0.0100%	1h	0.05804	−3.996%	$108	$5K	5x	as long as short
Extended WLFI-USD	+0.0104%	1h	0.05800	−4.065%	$136K	$480K	10x	as long as short
01 Exchange WLFIUSD	+0.0160%	1h	0.05805	−3.980%	$4K	$319	3x	as long as short
GMX WLFI/USD [ETH-USDC]	L +0.0298% / S −0.1279%	1h	0.05804	−4.005%	$7K	—	100x	as long as short
Kraken Futures PF_WLFIUSD	+0.0338%	1h	0.05810	−3.903%	$100K	$87K	20x	as long as short
BloFin WLFI-USDT	+0.0340%	4h	0.05806	−3.963%	$4.8M	$88K	75x	as long as short