Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0274%/8h= +30.0% APRpaid last 24h −0.051%

Price spread now: Kraken Futures against Bitget+0.027%7-day average +0.001% · you sell dearer than you buy

Net, funding: paid 7d − costs−$86as in the Funding arb table

Net, price: spread back to 7d avg − costs−$65as in the Price arb table

costs, in and out, $10k−$670.675% of the position

Long on Bitget Short on Kraken Futures

What this pair did over the last

the charts below follow

Funding, last 7 days−0.182%−$18 on $10k

Price spread, last 3 days (all we have)+0.089%+$9 · spread now +0.027%, 7d avg +0.001%

Together, before fees−0.093%−$9 on $10k · with fees, hour by hour

Both sides work for this trade now. Funding pays +$8 a day on $10k at the current rate, and Kraken Futures is 0.026% dearer against Bitget than usual: you sell high and buy low: +$3 more if the spread goes back to its 7-day average of +0.001%. Mind the row above: over the last 7 days funding on this pair cost −0.182%, so the current rate has only just turned in your favour.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid -0.182% in total (about -9.5% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bitget WIFUSDT	0.2419	0.0100	pay 0.0050% / 4h	1h 21m	$7.5M	$11.7M	50x
Short	Kraken Futures PF_WIFUSD	0.2420	0.0374	get 0.0047% / 1h	21m 11s	$633K	$2.2M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Kraken Futures 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 Kraken FuturesbpOrdersPrice spread, now +0.027%Rate

Funding earned: $57.51
Price spread: +0.027% → +0.001%: $2.58
Slippage, 4 orders: −$45.47
Fee Bitget: 6 bp × 2 orders: −$12
Fee Kraken Futures: 5 bp × 2 orders: −$10
Net: −$7.38
Costs to cover: 0.675%
Break-even: 7.9 days

Slippage from Bitget: live order book, 2 min ago; Kraken Futures: live order book, 2 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 Bitget live order book, 2 min ago	2.08 bp	12.9 bp −$13	32.2 bp −$322	102.5 bp −$10.2K	doesn't fit
Sell Kraken Futures live order book, 2 min ago	6.22 bp	20.7 bp −$21	51.7 bp −$517	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	−0.0241%	1h	0.2417	−0.103%	$74K	$246K	10x	as long as short
KuCoin WIFUSDTM	−0.0054%	4h	0.2417	−0.083%	$4.1M	$11.5M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2416	−0.138%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2419	0.000%	$47K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2419	−0.019%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.992%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2418	−0.041%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2419	−0.004%	$136K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2416	−0.124%	$54K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2420	+0.041%	$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	0.2418	−0.047%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2416	−0.133%	$76K	$50K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2418	−0.041%	$18.0M	$100.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2417	−0.070%	$16.8M	$35.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2417	−0.083%	$6.1M	$31.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2417	−0.083%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2418	−0.041%	$21.9M	$10.7M	50x	as long as short
Bitget WIFUSDTlong	+0.0100%	4h	0.2419	long leg	$7.5M	$11.7M	50x
BingX WIF-USDT	+0.0100%	4h	0.2418	−0.041%	—	$65.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2401	−0.736%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2409	−0.413%	$267K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2406	−0.537%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2415	−0.165%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2419	−0.021%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2414	−0.207%	$167K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2418	−0.040%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2419	−0.021%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0220% / S −0.1242%	1h	0.2419	−0.012%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2419	0.000%	$319K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2415	−0.165%	$981K	$709K	75x	as long as short
Kraken Futures PF_WIFUSDshort	+0.0374%	1h	0.2420	+0.027%	$633K	$2.2M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2417	−0.075%	$0	—	15x	as long as short