Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC+0.0088%/8h= +9.7% APRpaid last 24h +0.012%

Price spread now: Orderly against gTrade (Gains Network)−0.105%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 Orderly

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. Orderly is 0.105% cheaper against gTrade (Gains Network) than usual: you would sell low and buy high (spread −0.105% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$10 on $10k: about 4.0 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	0.2445	L +0.0002% / S −0.0002%	pay 0.0000% / 1h	48m 20s	$15K	—	150x
Short	Orderly PERP_WIF_USDC	0.2442	0.0090	get 0.0045% / 4h	48m 20s	$5K	$1.3M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.105%Rate

Funding earned: $18.54
Price spread: −0.105% → 0.000%: −$10.47
Slippage, 4 orders: no order book: not counted
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$7.93
Costs to cover: 0.160%
Break-even: 10.0 days

Slippage unknown: gTrade (Gains Network): no order-book sample; Orderly: no order-book sample. 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 Orderly no order-book sample	—	—	—	—	—

gTrade (Gains Network) and Orderly: 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	−0.0436%	1h	0.2447	+0.104%	$73K	$249K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0159%	1h	0.2442	−0.105%	$48K	$289K	25x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2448	+0.128%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USDlong	L +0.0002% / S −0.0002%	1h	0.2445	long leg	$15K	—	150x
KuCoin WIFUSDTM	+0.0024%	4h	0.2446	+0.059%	$4.3M	$11.4M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.027%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDCshort	+0.0090%	4h	0.2442	−0.105%	$5K	$1.3M	10x
Lighter WIF	+0.0096%	1h	0.2447	+0.108%	$138K	$562K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2447	+0.100%	$54K	$484K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2449	+0.194%	$7.6M	$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	0.2447	+0.093%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2447	+0.112%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2444	−0.023%	$18.2M	$102.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2442	−0.105%	$16.8M	$35.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2442	−0.105%	$6.1M	$32.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2444	−0.023%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2444	−0.023%	$22.2M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2443	−0.064%	$7.5M	$11.8M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2444	−0.023%	—	$65.7M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2462	+0.721%	$73K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2459	+0.606%	$280K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2464	+0.795%	$43K	$621K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2440	−0.187%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2451	+0.255%	$561	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2451	+0.263%	$169K	$722K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2442	−0.123%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2442	−0.089%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2443	−0.054%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2457	+0.509%	$332K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0318%	1h	0.2453	+0.347%	$654K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2451	+0.263%	$994K	$727K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2444	−0.036%	$0	—	15x	as long as short