Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0061%/8h= −6.6% APRpaid last 24h −0.068%

Price spread now: GMX against Bitget−0.290%54s7-day average — · you buy dearer than you sell

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

Long on Bitget 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

Both sides work against this trade now: funding costs −$2 a day on $10k at the current rate, and GMX is 0.290% cheaper against Bitget than usual: you would sell low and buy high (−$29 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 54 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	Bitget WIFUSDT	0.2479	0.0100	pay 0.0050% / 4h	2h 30m	$7.5M	$12.4M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2472	L +0.0174% / S −0.0039%	get 0.0005% / 1h	30m 28s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against Bitget. 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 BitgetbpFee GMXbpOrdersPrice spread, now −0.290%Rate

Funding earned: −$12.73
Price spread: −0.290% → 0.000%: −$28.96
Slippage, 4 orders: no order book: not counted
Fee Bitget: 6 bp × 2 orders: −$12
Fee GMX: 6 bp × 2 orders: −$12
Net: −$65.7
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: Bitget: live order book, 3 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 Bitget live order book, 3 min ago	2.03 bp	12.0 bp −$12	27.1 bp −$271	109.6 bp −$11.0K	doesn't fit
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 31 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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.363%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2474	−0.200%	$642K	$2.3M	50x	as long as short
Gate WIF_USDT	−0.0066%	4h	0.2478	−0.040%	$1.2M	$7.4M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2474	−0.217%	$19K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2473	−0.242%	$49K	$276K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2471	−0.307%	$799	—	150x	as long as short
KuCoin WIFUSDTM	+0.0028%	4h	0.2477	−0.081%	$4.5M	$13.0M	75x	as long as short
Backpack WIF_USDC_PERP	+0.0064%	1h	0.2471	−0.335%	$79K	$273K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2476	−0.113%	$139K	$624K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2480	+0.040%	$56K	$496K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2473	−0.242%	$5K	$1.3M	10x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2475	−0.173%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2477	−0.079%	$77K	$53K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2480	+0.040%	$18.8M	$112.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2477	−0.077%	$17.0M	$38.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2478	−0.040%	$5.9M	$34.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2478	−0.040%	$22.2M	$11.1M	50x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2479	long leg	$7.5M	$12.4M	50x
BingX WIF-USDC	+0.0100%	4h	0.2474	−0.202%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2470	−0.358%	$75K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2463	−0.642%	$279K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2471	−0.323%	$42K	$629K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2468	−0.444%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	−0.278%	$567	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2467	−0.484%	$168K	$724K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2478	−0.026%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2474	−0.216%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0174% / S −0.0039%	1h	0.2472	−0.290%	$8K	—	100x
Hyperliquid WIF	+0.0213%	1h	0.2478	−0.048%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2474	−0.202%	$325K	$2.5M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2477	−0.086%	$0	—	15x	as long as short