Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.025%

Price spread now: Popdex against Bybit+0.132%7-day average +0.054% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$173as in the Price arb table

costs, in and out, $10k−$1811.813% of the position

Long on Bybit Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.035%+$3 on $10k

Price spread, last 4 days (all we have)+0.074%+$7 · spread now +0.132%, 7d avg +0.054%

Together, before fees+0.109%+$11 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 0.078% dearer against Bybit than usual: you sell high and buy low, +$8 on $10k if it goes back to its 7-day average of +0.054%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Bybit WIFUSDT	0.2429	0.0100	pay 0.0050% / 4h	1h 08m	$16.8M	$35.2M	50x
Short	Popdex WIFUSDT	0.2432	0.0096	get 0.0012% / 1h	8m 33s	$54K	$483K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now +0.132%Rate

Funding earned: −$0.84
Price spread: +0.132% → +0.054%: $7.78
Slippage, 4 orders: −$163.86
Fee Bybit: 5.5 bp × 2 orders: −$11
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$174.32
Costs to cover: 1.813%
Break-even: never at this rate

Slippage from Bybit: live order book, 5 min ago; Popdex: live order book, 10 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 Bybit live order book, 5 min ago	2.06 bp	11.3 bp −$11	25.9 bp −$259	201.7 bp −$20.2K	doesn't fit
Sell Popdex live order book, 10 min ago	6.20 bp	97.1 bp −$97	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	−0.0289%	1h	0.2432	+0.140%	$74K	$246K	10x	as long as short
KuCoin WIFUSDTM	−0.0030%	4h	0.2429	+0.008%	$4.1M	$11.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2436	+0.282%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2433	+0.173%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2431	+0.071%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.392%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2432	+0.132%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2434	+0.202%	$133K	$555K	10x	as long as short
Popdex WIFUSDTshort	+0.0096%	1h	0.2432	+0.132%	$54K	$483K	20x
Hyperliquid WIF	+0.0100%	1h	0.2434	+0.214%	$7.6M	$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	0.2434	+0.220%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2434	+0.202%	$77K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2431	+0.089%	$18.1M	$101.2M	75x	as long as short
Bybit WIFUSDTlong	+0.0100%	4h	0.2429	long leg	$16.8M	$35.2M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2430	+0.049%	$6.1M	$31.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2432	+0.132%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2430	+0.049%	$22.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2432	+0.132%	$7.5M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2431	+0.091%	—	$65.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2420	−0.355%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2429	+0.008%	$277K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2429	+0.008%	$43K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2428	−0.033%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2433	+0.165%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2431	+0.091%	$168K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2433	+0.152%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2433	+0.173%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0235% / S −0.1345%	1h	0.2433	+0.166%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2432	+0.132%	$320K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2432	+0.132%	$986K	$717K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0372%	1h	0.2434	+0.221%	$636K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2430	+0.036%	$0	—	15x	as long as short