Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0100%/8h= +10.9% APRpaid last 24h +0.030%

Price spread now: SunX against dYdX−0.141%7-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 SunX

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

Funding pays, the price is against you. SunX is 0.141% cheaper against dYdX than usual: you would sell low and buy high (spread −0.141% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$14 on $10k: about 4.7 days of funding at the current rate (+$3 a day).

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	dYdX WIF-USD	0.2503	0	get 0.0000% / 1h	6m 28s	$14K	$587	10x
Short	SunX WIF-USDT	0.2499	0.0100	get 0.0050% / 4h	1h 06m	$2K	$3.1M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.141%Rate

Funding earned: $21
Price spread: −0.141% → 0.000%: −$14.08
Slippage, 4 orders: no order book: not counted
Fee dYdX: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$11.08
Costs to cover: 0.180%
Break-even: 10.7 days

Slippage unknown: dYdX: no order-book sample; SunX: live order book, 11 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 SunX live order book, 11 min ago	34.35 bp	65.3 bp −$65	doesn't fit	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−1.619%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2505	+0.099%	$984K	$947K	75x	as long as short
dYdX WIF-USDlong	0.0000%	1h	0.2503	long leg	$14K	$587	10x
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2502	−0.008%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0013%	1h	0.2502	−0.037%	$75K	$297K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0018% / S +0.0191%	1h	0.2503	+0.006%	$16K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2505	+0.103%	$144K	$703K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2505	+0.099%	$53K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2507	+0.175%	$8.7M	$6.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2504	+0.040%	$30K	$352K	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	0.2503	+0.031%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2504	+0.073%	$19.1M	$144.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2503	+0.019%	$16.9M	$47.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2504	+0.059%	$5.6M	$42.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2503	+0.019%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2503	+0.019%	$22.6M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2503	+0.019%	$4.4M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2505	+0.099%	$7.6M	$15.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2503	+0.019%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2490	−0.499%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2503	+0.037%	$287K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2502	−0.021%	$46K	$634K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2503	+0.019%	$5K	$1.0M	10x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2499	−0.141%	$2K	$3.1M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2504	+0.039%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2497	−0.221%	$154K	$942K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2503	+0.002%	$14K	$169K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2503	+0.022%	$84K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0150%	1h	0.2504	+0.059%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0341%	1h	0.2506	+0.121%	$650K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2505	+0.099%	$331K	$3.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2505	+0.083%	$1	—	15x	as long as short