WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC+0.0232%/8h= +25.4% APRnext payment +$0.29 per $10,000 · paid last 24h +0.165%

Price spread now: Kraken Futures against Backpack+0.195%7-day average +0.123% · you sell dearer than you buy

Net, funding: paid 7d − costs−$52as in the Funding arb table

Net, price: spread back to 7d avg − costs−$69as in the Price arb table

costs, in and out, $10k−$760.761% of the position

Long on Backpack Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days+0.242%+$24 on $10k

Price spread, last 4 days (all we have)+0.268%+$27 · spread now +0.195%, 7d avg +0.123%

Together, before fees+0.510%+$51 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$7 a day on $10k at the current rate, and Kraken Futures is 0.072% dearer against Backpack than usual: you sell high and buy low: +$7 more if the spread goes back to its 7-day average of +0.123%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2467	−0.0094	get 0.0012% / 1h	41m 19s	$78K	$280K	10x
Short	Kraken Futures PF_WIFUSD	0.2471	0.0138	get 0.0017% / 1h	41m 19s	$646K	$2.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.195%Rate

Funding earned: $48.65
Price spread: +0.195% → +0.123%: $7.21
Slippage, 4 orders: −$56.07
Fee Backpack: 5 bp × 2 orders: −$10
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$20.21
Costs to cover: 0.761%
Break-even: 9.9 days

Slippage from Backpack: live order book, 22 min ago; Kraken Futures: live order book, 2 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, 22 min ago	0.20 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Kraken Futures live order book, 2 min ago	10.11 bp	28.4 bp −$28	53.8 bp −$538	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	−0.0176%	4h	0.2474	+0.304%	$1.0M	$823K	75x	as long as short
Backpack WIF_USDC_PERPlong	−0.0094%	1h	0.2467	long leg	$78K	$280K	10x
dYdX WIF-USD	0.0000%	1h	0.2460	−0.281%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2470	+0.142%	$46K	$258K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2464	−0.087%	$797	—	150x	as long as short
Gate WIF_USDT	+0.0004%	4h	0.2463	−0.142%	$1.2M	$7.5M	50x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	+0.142%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2461	−0.227%	$139K	$627K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2462	−0.182%	$56K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2461	−0.209%	$34K	$283K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2460	−0.272%	$76K	$56K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2465	−0.074%	$18.8M	$114.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2462	−0.182%	$16.9M	$38.3M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2462	−0.182%	$5.9M	$34.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2462	−0.182%	$22.2M	$11.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2462	−0.182%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2463	−0.142%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2464	−0.101%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2450	−0.666%	$74K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2477	+0.423%	$282K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2471	+0.182%	$42K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2463	−0.142%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2465	−0.061%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2470	+0.158%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2470	+0.142%	$167K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2459	−0.289%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2462	−0.184%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0138%	1h	0.2471	+0.195%	$646K	$2.3M	50x
GMX WIF/USD [WBTC.b-USDC]	L +0.0158% / S −0.0029%	1h	0.2464	−0.115%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0273%	1h	0.2467	+0.041%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2471	+0.182%	$330K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2463	−0.129%	$0	—	15x	as long as short