Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.010%

Price spread now: GRVT against dYdX+0.220%7-day average — · you sell dearer than you buy

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

Long on dYdX Short on GRVT

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work for this trade now. Funding pays +$3 a day on $10k at the current rate, and GRVT is 0.220% dearer against dYdX than usual: you sell high and buy low: +$22 more if the spread goes back to zero (this spread has no 7-day history yet).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX WIF-USD	0.2424	0	get 0.0000% / 1h	10m 45s	$18K	$582	10x
Short	GRVT WIF_USDT_Perp	0.2429	0.0100	get 0.0050% / 4h	1h 10m	$277K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now +0.220%Rate

Funding earned: $21
Price spread: +0.220% → 0.000%: $22.03
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: $24.03
Costs to cover: 0.190%
Break-even: from the start

Slippage unknown: dYdX: no order-book sample; GRVT: live order book, 3 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 GRVT live order book, 3 min ago	2.06 bp	18.4 bp −$18	100.2 bp −$1,002	doesn't fit	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	−0.0283%	1h	0.2418	−0.246%	$74K	$246K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0163%	1h	0.2421	−0.110%	$48K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0034%	4h	0.2418	−0.234%	$4.1M	$11.2M	75x	as long as short
dYdX WIF-USDlong	0.0000%	1h	0.2424	long leg	$18K	$582	10x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2423	−0.046%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.183%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2422	−0.069%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2422	−0.048%	$135K	$550K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2422	−0.069%	$54K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2422	−0.057%	$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	0.2420	−0.164%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2423	−0.043%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2419	−0.172%	$18.0M	$101.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2418	−0.234%	$16.8M	$35.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2418	−0.234%	$6.1M	$31.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2420	−0.151%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2420	−0.151%	$22.0M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2421	−0.110%	$7.5M	$11.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2419	−0.192%	—	$65.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2420	−0.143%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perpshort	+0.0100%	4h	0.2429	+0.220%	$277K	$1.8M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2429	+0.220%	$43K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2419	−0.192%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2421	−0.126%	$551	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2419	−0.192%	$168K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2420	−0.172%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2421	−0.110%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0233% / S −0.1328%	1h	0.2423	−0.042%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2426	+0.097%	$319K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2420	−0.151%	$974K	$713K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0373%	1h	0.2422	−0.048%	$633K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2421	−0.103%	$0	—	15x	as long as short