Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h −0.001%

Price spread now: Popdex against BingX−0.122%7-day average +0.008% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$170as in the Price arb table

costs, in and out, $10k−$1571.567% of the position

Long on BingX Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.007%−$1 on $10k

Price spread, last 4 days (all we have)+0.171%+$17 · spread now −0.122%, 7d avg +0.008%

Together, before fees+0.164%+$16 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: Popdex is 0.131% cheaper against BingX than usual: you would sell low and buy high, −$13 on $10k if it goes back to its 7-day average of +0.008%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	BingX WIF-USDT	0.2451	0.0100	pay 0.0050% / 4h	3h 40m	—	$65.8M	—
Short	Popdex WIFUSDT	0.2448	0.0096	get 0.0012% / 1h	40m 01s	$54K	$483K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.122%Rate

Funding earned: −$0.84
Price spread: −0.122% → +0.008%: −$13.06
Slippage, 4 orders: −$140.26
Fee BingX: 5 bp × 2 orders: −$10
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$170.56
Costs to cover: 1.567%
Break-even: never at this rate

Slippage from BingX: live order book, 9 min ago; Popdex: live order book, 34 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 BingX live order book, 9 min ago	2.05 bp	7.7 bp −$8	15.0 bp −$150	48.8 bp −$4,878	445.0 bp −$222.5K
Sell Popdex live order book, 34 min ago	4.11 bp	62.7 bp −$63	doesn't fit	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
Backpack WIF_USDC_PERP	−0.0389%	1h	0.2452	+0.033%	$75K	$252K	10x	as long as short
Gate WIF_USDT	−0.0018%	4h	0.2452	+0.041%	$1.2M	$7.0M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2445	−0.261%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2456	+0.204%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2457	+0.226%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0004%	4h	0.2454	+0.122%	$4.3M	$11.9M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.285%	$10K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2456	+0.195%	$635K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2456	+0.204%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2455	+0.159%	$146K	$581K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDTshort	+0.0096%	1h	0.2448	−0.122%	$54K	$483K	20x
Aster WIFUSDT	+0.0100%	4h	0.2453	+0.082%	$24K	$258K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2445	−0.260%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2452	+0.038%	$18.5M	$105.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2450	−0.020%	$16.9M	$36.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2448	−0.122%	$6.0M	$32.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2451	0.000%	$22.1M	$10.9M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2452	+0.041%	$7.6M	$11.9M	50x	as long as short
BingX WIF-USDTlong	+0.0100%	4h	0.2451	long leg	—	$65.8M	—
Variational Omni WIF	+0.0100%	4h	0.2441	−0.403%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2443	−0.320%	$276K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2443	−0.326%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2450	−0.041%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2454	+0.102%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2444	−0.286%	$168K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2449	−0.082%	$11K	$154K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2455	+0.157%	$82K	$85	3x	as long as short
Hyperliquid WIF	+0.0143%	1h	0.2456	+0.196%	$7.7M	$4.1M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2456	+0.212%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2458	+0.286%	$326K	$2.4M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2436	−0.612%	$991K	$733K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2451	+0.015%	$0	—	15x	as long as short