Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC−0.0067%/8h= −7.3% APRpaid last 24h −0.042%

Price spread now: Injective against Binance−1.820%57s7-day average — · you buy dearer than you sell

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

Long on Binance Short on Injective

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)—no history yet

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

Together, before fees—needs both histories

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and Injective is 1.820% cheaper against Binance than usual: you would sell low and buy high (−$182 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 57 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Binance WIFUSDT	0.2439	0.0100	pay 0.0050% / 4h	6m 24s	$18.3M	$104.2M	75x
Short	Injective WIF/USDC PERP	0.2395	0.0033	get 0.0004% / 1h	6m 24s	$10K	$10K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective against Binance. 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 BinancebpFee InjectivebpOrdersPrice spread, now −1.820%Rate

Funding earned: −$14
Price spread: −1.820% → 0.000%: −$181.95
Slippage, 4 orders: no order book: not counted
Fee Binance: 5 bp × 2 orders: −$10
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: −$205.97
Costs to cover: 0.100%
Break-even: never at this rate

Slippage unknown: Binance: live order book, 6 min ago; Injective: 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 Binance live order book, 6 min ago	2.06 bp	12.0 bp −$12	27.3 bp −$273	110.5 bp −$11.1K	doesn't fit
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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
Backpack WIF_USDC_PERP	−0.0402%	1h	0.2435	−0.159%	$75K	$250K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0160%	1h	0.2439	−0.016%	$48K	$289K	25x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2439	−0.029%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2440	+0.037%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0016%	4h	0.2437	−0.098%	$4.3M	$11.7M	75x	as long as short
Injective WIF/USDC PERPshort	+0.0033%	1h	0.2395	−1.820%	$10K	$10K	12x
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2439	−0.016%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2440	+0.025%	$137K	$571K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2440	+0.025%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2443	+0.152%	$7.6M	$4.1M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2439	−0.002%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2439	−0.010%	$75K	$51K	5x	as long as short
Binance WIFUSDTlong	+0.0100%	4h	0.2439	long leg	$18.3M	$104.2M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2438	−0.057%	$16.8M	$36.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2438	−0.057%	$6.0M	$32.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2439	−0.016%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2440	+0.025%	$22.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2440	+0.025%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2436	−0.139%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2437	−0.091%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2435	−0.169%	$276K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2432	−0.303%	$43K	$627K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2435	−0.180%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2440	+0.046%	$559	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2433	−0.262%	$168K	$746K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2439	−0.035%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2440	+0.025%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S +0.0185%	1h	0.2440	+0.020%	$18K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2435	−0.180%	$320K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0319%	1h	0.2446	+0.278%	$634K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2436	−0.139%	$985K	$732K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2439	−0.030%	$0	—	15x	as long as short