Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.004%

Price spread now: dYdX against Bybit−0.569%7-day average — · you buy dearer than you sell

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

Long on Bybit Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 6 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 −$3 a day on $10k at the current rate, and dYdX is 0.569% cheaper against Bybit than usual: you would sell low and buy high (−$57 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2551	0.0100	pay 0.0050% / 4h	3h 56m	$17.4M	$41.4M	50x
Short	dYdX WIF-USD	0.2536	0	get 0.0000% / 1h	56m 14s	$17K	$597	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX against Bybit. 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 BybitbpFee dYdXbpOrdersPrice spread, now −0.569%Rate

Funding earned: −$21
Price spread: −0.569% → 0.000%: −$56.87
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$98.87
Costs to cover: 0.210%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 3 min ago; dYdX: 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 Bybit live order book, 3 min ago	1.98 bp	13.5 bp −$14	34.7 bp −$347	160.7 bp −$16.1K	doesn't fit
Sell dYdX no order-book sample	—	—	—	—	—

dYdX: 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
BloFin WIF-USDT	−0.0207%	4h	0.2541	−0.392%	$1.0M	$894K	75x	as long as short
dYdX WIF-USDshort	0.0000%	1h	0.2536	−0.569%	$17K	$597	10x
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2546	−0.178%	$821	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−3.175%	$11K	$10K	12x	as long as short
Backpack WIF_USDC_PERP	+0.0077%	1h	0.2538	−0.502%	$80K	$300K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2536	−0.588%	$55K	$518K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2539	−0.469%	$34K	$299K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2537	−0.564%	$78K	$62K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2554	+0.113%	$19.6M	$122.8M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2551	long leg	$17.4M	$41.4M	50x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2557	+0.235%	$6.1M	$38.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2541	−0.392%	$1.2M	$7.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2536	−0.588%	$23.4M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2535	−0.627%	$4.5M	$14.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2559	+0.314%	$7.8M	$13.9M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2551	0.000%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2533	−0.703%	$87K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2529	−0.865%	$283K	$2.4M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2527	−0.941%	$46K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2557	+0.235%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2553	+0.078%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2557	+0.255%	$591	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2557	+0.235%	$170K	$710K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2558	+0.257%	$11K	$145K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2556	+0.183%	$85K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0124% / S −0.0006%	1h	0.2541	−0.388%	$8K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2561	+0.392%	$347K	$2.9M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0359%	1h	0.2561	+0.400%	$662K	$2.3M	50x	as long as short
Lighter WIF	+0.0432%	1h	0.2559	+0.318%	$140K	$628K	10x	as long as short
Hyperliquid WIF	+0.0468%	1h	0.2541	−0.388%	$8.3M	$5.0M	5x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0532%	1h	0.2559	+0.314%	$46K	$256K	25x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2536	−0.604%	$1	—	15x	as long as short