Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 11:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.142%

Price spread now: HTX against Backpack+0.043%7-day average +0.530% · you sell dearer than you buy

Net, funding: paid 7d − costs−$42as in the Funding arb table

Net, price: spread back to 7d avg − costs−$153as in the Price arb table

costs, in and out, $10k−$1041.039% of the position

Long on Backpack Short on HTX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.617%+$62 on $10k

Price spread, last 4 days (all we have)+0.521%+$52 · spread now +0.043%, 7d avg +0.530%

Together, before fees+1.138%+$114 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: HTX is 0.487% cheaper against Backpack than usual: you would sell low and buy high, −$49 on $10k if it goes back to its 7-day average of +0.530%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2533	0.0100	pay 0.0013% / 1h	58m 14s	$90K	$359K	10x
Short	HTX WIF-USDT	0.2534	0.0100	get 0.0050% / 4h	1h 58m	$157K	$1.0M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

HTX against Backpack. 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 BackpackbpFee HTXbpOrdersPrice spread, now +0.043%Rate

Funding earned: $0
Price spread: +0.043% → +0.530%: −$48.67
Slippage, 4 orders: −$81.92
Fee Backpack: 5 bp × 2 orders: −$10
Fee HTX: 6 bp × 2 orders: −$12
Net: −$152.59
Costs to cover: 1.039%
Break-even: never at this rate

Slippage from Backpack: live order book, 53 min ago; HTX: live order book, 4 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 Backpack live order book, 53 min ago	0.58 bp	7.1 bp −$7	doesn't fit	doesn't fit	doesn't fit
Sell HTX live order book, 4 min ago	17.74 bp	51.7 bp −$52	541.5 bp −$5,415	doesn't fit	doesn't fit

WIF on 32 exchanges

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
Injective WIF/USDC PERP	−0.0389%	1h	0.2559	+1.030%	$10K	$28K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2536	+0.122%	$1.1M	$1.1M	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0117% / S +0.0179%	1h	0.2535	+0.067%	$9K	—	100x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2534	+0.060%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2534	+0.051%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2537	+0.162%	$5K	$1.0M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2537	+0.162%	$140K	$878K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2534	+0.043%	$54K	$634K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2535	+0.071%	$10.0M	$9.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2535	+0.085%	$32K	$417K	10x	as long as short

Show all 32 exchanges

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2534	+0.060%	$78K	$97K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2535	+0.092%	$20.4M	$172.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2535	+0.087%	$17.5M	$58.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2538	+0.201%	$6.2M	$51.6M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2535	+0.083%	$1.2M	$12.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2535	+0.083%	$22.6M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2533	+0.004%	$3.8M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2537	+0.162%	$7.6M	$19.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2536	+0.122%	—	$27.6M	—	as long as short
Backpack WIF_USDC_PERPlong	+0.0100%	1h	0.2533	long leg	$90K	$359K	10x
Variational Omni WIF	+0.0100%	4h	0.2535	+0.079%	$78K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2555	+0.874%	$291K	$3.2M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2538	+0.201%	$36K	$646K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2530	−0.114%	$1K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2536	+0.142%	$3K	$6K	5x	as long as short
HTX WIF-USDTshort	+0.0100%	4h	0.2534	+0.043%	$157K	$1.0M	75x
Extended WIF-USD	+0.0104%	1h	0.2535	+0.089%	$9K	$263K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2536	+0.139%	$85K	—	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0144%	1h	0.2537	+0.162%	$34K	$255K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0552%	1h	0.2543	+0.399%	$346K	$4.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2533	+0.019%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0565%	1h	0.2538	+0.184%	$652K	$3.0M	50x	as long as short