Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0131%/8h= −14.4% APRpaid last 24h −0.030%

Price spread now: GMX against Bybit−0.011%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 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

The price spread sits at zero (this spread has no 7-day history yet), so right now this pair is about funding alone: −$4 a day on $10k at the current rate.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2412	0.0100	pay 0.0050% / 4h	2h 19m	$16.3M	$46.4M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2412	L +0.0087% / S +0.0031%	pay 0.0004% / 1h	19m 05s	$8K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX 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 GMXbpOrdersPrice spread, now −0.011%Rate

Funding earned: −$27.56
Price spread: −0.011% → 0.000%: −$1.12
Slippage, 4 orders: no order book: not counted
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee GMX: 6 bp × 2 orders: −$12
Net: −$51.68
Costs to cover: 0.230%
Break-even: never at this rate

Slippage unknown: Bybit: live order book, 5 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 Bybit live order book, 5 min ago	2.10 bp	11.0 bp −$11	29.6 bp −$296	208.9 bp −$20.9K	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 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	−0.0141%	4h	0.2414	+0.083%	$974K	$907K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2413	+0.024%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2411	−0.041%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2412	0.000%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0029%	1h	0.2411	−0.025%	$74K	$317K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0087% / S +0.0031%	1h	0.2412	−0.011%	$8K	—	100x
Lighter WIF	+0.0096%	1h	0.2414	+0.066%	$147K	$671K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2412	0.000%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2415	+0.120%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2413	+0.039%	$29K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2414	+0.075%	$76K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2412	+0.003%	$18.7M	$139.9M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2412	long leg	$16.3M	$46.4M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2412	0.000%	$5.5M	$40.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2412	0.000%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2412	0.000%	$21.6M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2412	0.000%	$4.0M	$16.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2413	+0.041%	$7.3M	$15.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2413	+0.041%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2402	−0.411%	$88K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2383	−1.222%	$275K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2390	−0.912%	$44K	$629K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2412	0.000%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2408	−0.166%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2411	−0.029%	$557	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2413	+0.041%	$156K	$858K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2410	−0.099%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2411	−0.027%	$80K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0248%	1h	0.2412	+0.016%	$631K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2416	+0.166%	$322K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2411	−0.037%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2401	−0.456%	$10K	$10K	12x	as long as short