Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC+0.0098%/8h= +10.8% APRpaid last 24h +0.019%

Price spread now: GRVT against gTrade (Gains Network)−0.031%68s7-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 GRVT

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

Funding pays, the price is against you. GRVT is 0.031% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.031% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$3 on $10k: about 25 hours of funding at the current rate (+$3 a day). The two prices were read 68 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	gTrade (Gains Network) WIF/USD	0.2472	L +0.0002% / S +0.0001%	pay 0.0000% / 1h	46m 18s	$799	—	150x
Short	GRVT WIF_USDT_Perp	0.2472	0.0100	get 0.0050% / 4h	46m 18s	$275K	$2.2M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.031%Rate

Funding earned: $20.68
Price spread: −0.031% → 0.000%: −$3.07
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$1.39
Costs to cover: 0.190%
Break-even: 7.5 days

Slippage unknown: gTrade (Gains Network): no order-book sample; GRVT: live order book, 2 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 GRVT live order book, 2 min ago	6.07 bp	17.2 bp −$17	47.4 bp −$474	doesn't fit	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	−0.0278%	1h	0.2472	+0.005%	$82K	$278K	10x	as long as short
BloFin WIF-USDT	−0.0183%	4h	0.2474	+0.066%	$1.0M	$825K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2472	−0.015%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USDlong	L +0.0002% / S +0.0001%	1h	0.2472	long leg	$799	—	150x
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.096%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2475	+0.086%	$139K	$629K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2474	+0.066%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2475	+0.099%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2474	+0.053%	$76K	$57K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2474	+0.046%	$19.1M	$115.9M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2471	−0.056%	$17.0M	$38.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2474	+0.066%	$5.9M	$35.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2472	−0.015%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2472	−0.015%	$22.4M	$11.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2472	−0.015%	$4.4M	$13.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2475	+0.106%	$7.4M	$13.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2470	−0.096%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2478	+0.230%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perpshort	+0.0100%	4h	0.2472	−0.031%	$275K	$2.2M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2473	+0.025%	$45K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2474	+0.066%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2469	−0.137%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2476	+0.142%	$568	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2470	−0.096%	$165K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2475	+0.120%	$8K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2476	+0.144%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0140% / S −0.0017%	1h	0.2472	−0.010%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0154%	1h	0.2476	+0.146%	$45K	$260K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0262%	1h	0.2478	+0.213%	$647K	$2.3M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2475	+0.106%	$329K	$2.7M	50x	as long as short
Hyperliquid WIF	+0.0390%	1h	0.2477	+0.195%	$8.0M	$4.8M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2471	−0.052%	$0	—	15x	as long as short