Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC0.0000%/8h= 0.0% APRpaid last 24h +0.138%

Price spread now: Variational Omni against Backpack−0.139%7-day average — · you buy dearer than you sell

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

Long on Backpack Short on Variational Omni

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

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

Together, before fees—+ Points / potential airdropVariational Omni: Active · farm boardneeds both histories

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Variational Omni is 0.139% cheaper against Backpack than usual: you would sell low and buy high, −$14 on $10k if it goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Backpack WIF_USDC_PERP	0.2492	0.0100	pay 0.0013% / 1h	19m 19s	$85K	$272K	10x
Short	Variational Omni WIF	0.2488	0.0100	get 0.0050% / 4h	1h 19m	$76K	$69K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni against Backpack. 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 BackpackbpFee Variational OmnibpOrdersPrice spread, now −0.139%Rate

Funding earned: $0
Price spread: −0.139% → 0.000%: −$13.89
Slippage, 4 orders: no order book: not counted
Fee Backpack: 5 bp × 2 orders: −$10
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$23.89
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Backpack: live order book, 44 min ago; Variational Omni: no order-book sample. 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 Backpack live order book, 44 min ago	0.20 bp	9.4 bp −$9	doesn't fit	doesn't fit	doesn't fit
Sell Variational Omni no order-book sample	—	—	—	—	—

Variational Omni: 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.

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	−0.0189%	4h	0.2494	+0.100%	$1.0M	$832K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2497	+0.201%	$19K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2496	+0.195%	$807	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.863%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2499	+0.285%	$141K	$628K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2499	+0.301%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2499	+0.293%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2497	+0.203%	$77K	$57K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2498	+0.250%	$19.1M	$114.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2495	+0.120%	$17.1M	$38.5M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2494	+0.100%	$5.9M	$35.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2498	+0.261%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2497	+0.221%	$22.4M	$11.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2498	+0.261%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2497	+0.221%	$7.5M	$12.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2497	+0.221%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERPlong	+0.0100%	1h	0.2492	long leg	$85K	$272K	10x
Variational Omni WIFshort	+0.0100%	4h	0.2488	−0.139%	$76K	$69K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2487	−0.200%	$282K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2492	+0.020%	$43K	$627K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2496	+0.181%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2490	−0.060%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2493	+0.080%	$575	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2490	−0.060%	$168K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2498	+0.255%	$9K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2493	+0.080%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0136%	1h	0.2494	+0.108%	$655K	$2.3M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0151% / S −0.0024%	1h	0.2496	+0.180%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0151%	1h	0.2494	+0.100%	$47K	$258K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2494	+0.100%	$332K	$2.7M	50x	as long as short
Hyperliquid WIF	+0.0325%	1h	0.2502	+0.405%	$8.1M	$4.8M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2496	+0.181%	$0	—	15x	as long as short