Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 01:00 UTC−0.0091%/8h= −10.0% APRpaid last 24h +3.904%

Price spread now: BingX against GMX−0.212%7-day average — · you buy dearer than you sell

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

Long on GMX Short on BingX

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

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and BingX is 0.212% cheaper against GMX than usual: you would sell low and buy high (−$21 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2456	L +0.0191% / S −0.0138%	pay 0.0024% / 1h	40m 03s	$6K	—	100x
Short	BingX WIF-USDT	0.2451	0.0100	get 0.0050% / 4h	3h 40m	—	$65.8M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX against GMX. 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 GMXbpFee BingXbpOrdersPrice spread, now −0.212%Rate

Funding earned: −$19.08
Price spread: −0.212% → 0.000%: −$21.17
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BingX: 5 bp × 2 orders: −$10
Net: −$62.26
Costs to cover: 0.220%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BingX: live order book, 9 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 GMX no order-book sample	—	—	—	—	—
Sell BingX live order book, 9 min ago	2.05 bp	8.1 bp −$8	17.2 bp −$172	57.4 bp −$5,742	505.7 bp −$252.8K

GMX: 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	−0.0389%	1h	0.2452	−0.179%	$75K	$252K	10x	as long as short
Gate WIF_USDT	−0.0018%	4h	0.2452	−0.171%	$1.2M	$7.0M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2445	−0.472%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2456	−0.008%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2457	+0.013%	$16K	—	150x	as long as short
KuCoin WIFUSDTM	+0.0004%	4h	0.2454	−0.090%	$4.3M	$11.9M	75x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−2.492%	$10K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	+0.0039%	1h	0.2456	−0.017%	$635K	$2.2M	50x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2456	−0.008%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2455	−0.053%	$146K	$581K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Popdex WIFUSDT	+0.0096%	1h	0.2448	−0.334%	$54K	$483K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2453	−0.130%	$24K	$258K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2445	−0.471%	$76K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2452	−0.174%	$18.5M	$105.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2450	−0.232%	$16.9M	$36.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2448	−0.334%	$6.0M	$32.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2451	−0.212%	$22.1M	$10.9M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2452	−0.171%	$7.6M	$11.9M	50x	as long as short
BingX WIF-USDTshort	+0.0100%	4h	0.2451	−0.212%	—	$65.8M	—
Variational Omni WIF	+0.0100%	4h	0.2441	−0.614%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2443	−0.531%	$276K	$1.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2443	−0.537%	$43K	$631K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2450	−0.252%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2454	−0.110%	$560	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2444	−0.497%	$168K	$745K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2449	−0.293%	$11K	$154K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2455	−0.055%	$82K	$85	3x	as long as short
Hyperliquid WIF	+0.0143%	1h	0.2456	−0.016%	$7.7M	$4.1M	5x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0191% / S −0.0138%	1h	0.2456	long leg	$6K	—	100x
Coinbase International WIF-PERP-INTX	+0.0288%	1h	0.2458	+0.073%	$326K	$2.4M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2436	−0.822%	$991K	$733K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2451	−0.196%	$0	—	15x	as long as short