Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0954%/8h= +104.5% APRpaid last 24h −0.081%

Price spread now: GMX against BingX−0.147%7-day average — · you buy dearer than you sell

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

Long on BingX Short on GMX

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—needs both histories

Funding pays, the price is against you. GMX is 0.147% cheaper against BingX than usual: you would sell low and buy high (spread −0.147% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$15 on $10k: about 12 hours of funding at the current rate (+$29 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDC	0.2403	0.0100	pay 0.0050% / 4h	1h 42m	—	$2.3M	—
Short	GMX WIF/USD [WBTC.b-USDC]	0.2399	L +0.0194% / S −0.1054%	get 0.0132% / 1h	42m 39s	$4K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against BingX. 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 BingXbpFee GMXbpOrdersPrice spread, now −0.147%Rate

Funding earned: $200.44
Price spread: −0.147% → 0.000%: −$14.69
Slippage, 4 orders: no order book: not counted
Fee BingX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $163.75
Costs to cover: 0.220%
Break-even: 1.3 days

Slippage unknown: BingX: live order book, 6 min ago; GMX: 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 BingX live order book, 6 min ago	2.09 bp	23.5 bp −$23	60.7 bp −$607	304.2 bp −$30.4K	736.7 bp −$368.3K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0216%	1h	0.2399	−0.146%	$75K	$235K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0167%	1h	0.2399	−0.166%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0096%	4h	0.2400	−0.125%	$4.3M	$11.3M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2402	−0.042%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2400	−0.129%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.333%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2399	−0.166%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2404	+0.029%	$135K	$547K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2402	−0.042%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2406	+0.137%	$7.5M	$4.0M	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	0.2404	+0.054%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2403	+0.017%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2404	+0.042%	$17.7M	$99.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2404	+0.042%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2405	+0.083%	$6.1M	$30.8M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2404	+0.042%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2403	0.000%	$21.5M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2405	+0.083%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDClong	+0.0100%	4h	0.2403	long leg	—	$2.3M	—
Variational Omni WIF	+0.0100%	4h	0.2387	−0.654%	$68K	$65K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2399	−0.167%	$273K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2398	−0.208%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2396	−0.291%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2399	−0.146%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2396	−0.291%	$166K	$717K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2405	+0.066%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2398	−0.200%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0194% / S −0.1054%	1h	0.2399	−0.147%	$4K	—	100x
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2403	0.000%	$316K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2400	−0.125%	$972K	$703K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0377%	1h	0.2402	−0.052%	$630K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2401	−0.091%	$0	—	15x	as long as short