Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.022%

Price spread now: Binance against dYdX−0.411%49s7-day average — · you buy dearer than you sell

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

Long on dYdX Short on Binance

What this pair did over the last

the charts below follow

Funding, last 5 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

Funding pays, the price is against you. Binance is 0.411% cheaper against dYdX than usual: you would sell low and buy high (spread −0.411% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$41 on $10k: about 14 days of funding at the current rate (+$3 a day). The two prices were read 49 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	dYdX WIF-USD	0.2377	0	get 0.0000% / 1h	32m 44s	$18K	$582	10x
Short	Binance WIFUSDT	0.2367	0.0100	get 0.0050% / 4h	2h 32m	$17.5M	$99.2M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance against dYdX. 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 dYdXbpFee BinancebpOrdersPrice spread, now −0.411%Rate

Funding earned: $21
Price spread: −0.411% → 0.000%: −$41.07
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee Binance: 5 bp × 2 orders: −$10
Net: −$40.07
Costs to cover: 0.200%
Break-even: 20.4 days

Slippage unknown: dYdX: no order-book sample; Binance: live order book, 10 min ago. 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 dYdX no order-book sample	—	—	—	—	—
Sell Binance live order book, 10 min ago	2.11 bp	13.5 bp −$14	32.9 bp −$329	106.4 bp −$10.6K	doesn't fit

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
Backpack WIF_USDC_PERP	−0.0734%	1h	0.2366	−0.453%	$73K	$234K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0594%	1h	0.2368	−0.369%	$46K	$289K	25x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.767%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0212%	4h	0.2366	−0.453%	$4.2M	$11.1M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2370	−0.277%	$623K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0058%	4h	0.2374	−0.099%	$67K	$47K	—	as long as short
Gate WIF_USDT	−0.0024%	4h	0.2369	−0.327%	$1.2M	$6.9M	50x	as long as short
dYdX WIF-USDlong	0.0000%	1h	0.2377	long leg	$18K	$582	10x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2369	−0.327%	$14K	—	150x	as long as short
Aster WIFUSDT	+0.0017%	4h	0.2369	−0.336%	$23K	$254K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0038%	4h	0.2376	−0.036%	$265K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2369	−0.327%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2368	−0.373%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2370	−0.285%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2370	−0.298%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2376	−0.039%	$75K	$48K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2367	−0.411%	$17.5M	$99.2M	75x
Bybit WIFUSDT	+0.0100%	4h	0.2366	−0.453%	$16.6M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2365	−0.495%	$6.0M	$29.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2367	−0.411%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2366	−0.453%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2368	−0.369%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2379	+0.094%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2365	−0.495%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2367	−0.390%	$538	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2365	−0.495%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2366	−0.443%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2367	−0.390%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0133% / S −0.0631%	1h	0.2368	−0.362%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2376	−0.032%	$310K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2370	−0.285%	$962K	$688K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2368	−0.352%	$0	—	15x	as long as short