Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0098%/8h= +10.7% APRpaid last 24h +0.003%

Price spread now: Bybit against gTrade (Gains Network)−0.263%7-day average — · you buy dearer than you sell

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

Long on gTrade (Gains Network)Short on Bybit

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

Funding pays, the price is against you. Bybit is 0.263% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.263% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$26 on $10k: about 9.0 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	gTrade (Gains Network) WIF/USD	0.2368	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	30m 49s	$14K	—	150x
Short	Bybit WIFUSDT	0.2362	0.0100	get 0.0050% / 4h	2h 30m	$16.5M	$34.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against gTrade (Gains Network). 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 gTrade (Gains Network)bpFee BybitbpOrdersPrice spread, now −0.263%Rate

Funding earned: $20.57
Price spread: −0.263% → 0.000%: −$26.35
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$26.78
Costs to cover: 0.210%
Break-even: 16.1 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Bybit: 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 gTrade (Gains Network) no order-book sample	—	—	—	—	—
Sell Bybit live order book, 3 min ago	2.11 bp	21.2 bp −$21	36.3 bp −$363	237.5 bp −$23.7K	doesn't fit

gTrade (Gains Network): 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	−0.0723%	1h	0.2362	−0.242%	$73K	$234K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0595%	1h	0.2365	−0.137%	$46K	$289K	25x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.130%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0212%	4h	0.2362	−0.263%	$4.1M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2367	−0.061%	$622K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0058%	4h	0.2374	+0.261%	$67K	$47K	—	as long as short
Gate WIF_USDT	−0.0012%	4h	0.2363	−0.221%	$1.2M	$6.9M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2369	+0.024%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USDlong	L +0.0002% / S −0.0002%	1h	0.2368	long leg	$14K	—	150x
Aster WIFUSDT	+0.0007%	4h	0.2365	−0.137%	$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	+0.323%	$265K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2366	−0.095%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2363	−0.234%	$131K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2367	−0.052%	$52K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2366	−0.103%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2368	−0.023%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2362	−0.263%	$17.5M	$99.2M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2362	−0.263%	$16.5M	$34.6M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2361	−0.306%	$6.0M	$29.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2363	−0.221%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2364	−0.179%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2363	−0.221%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2372	+0.159%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2362	−0.263%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2364	−0.183%	$537	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2366	−0.095%	$164K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2362	−0.254%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2364	−0.179%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0135% / S −0.0646%	1h	0.2367	−0.042%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2376	+0.328%	$310K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2369	+0.032%	$968K	$688K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2365	−0.120%	$0	—	15x	as long as short