Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0035%/8h= −3.8% APRpaid last 24h +3.857%

Price spread now: Bitget against GMX+0.371%54s7-day average — · you sell dearer than you buy

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

Long on GMX Short on Bitget

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

The price spread pays, funding is against you. Bitget is 0.371% dearer against GMX than usual: you sell high and buy low (spread +0.371% now, against zero (this spread has no 7-day history yet)): +$37 on $10k if it goes back. Holding the pair costs −$1 a day in funding at the current rate, which eats that in about 35 days. The two prices were read 54 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	GMX WIF/USD [WBTC.b-USDC]	0.2490	L +0.0135% / S −0.0013%	pay 0.0017% / 1h	28m 29s	$8K	—	100x
Short	Bitget WIFUSDT	0.2499	0.0100	get 0.0050% / 4h	28m 29s	$7.6M	$13.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now +0.371%Rate

Funding earned: −$7.35
Price spread: +0.371% → 0.000%: $37.11
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee Bitget: 6 bp × 2 orders: −$12
Net: $5.76
Costs to cover: 0.240%
Break-even: from the start

Slippage unknown: GMX: no order-book sample; Bitget: live order book, 5 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 Bitget live order book, 5 min ago	4.04 bp	18.6 bp −$19	42.8 bp −$428	134.9 bp −$13.5K	doesn't fit

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	−0.0190%	1h	0.2487	−0.127%	$77K	$291K	10x	as long as short
BloFin WIF-USDT	−0.0181%	4h	0.2488	−0.071%	$996K	$827K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2492	+0.071%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2490	+0.010%	$45K	$260K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2490	+0.025%	$805	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.794%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2490	+0.010%	$139K	$630K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2495	+0.210%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2487	−0.096%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2492	+0.086%	$78K	$60K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2494	+0.189%	$18.8M	$118.4M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2494	+0.170%	$17.0M	$39.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2498	+0.331%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2491	+0.050%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2493	+0.130%	$23.0M	$11.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2492	+0.090%	$4.6M	$14.5M	75x	as long as short
Bitget WIFUSDTshort	+0.0100%	4h	0.2499	+0.371%	$7.6M	$13.3M	50x
BingX WIF-USDT	+0.0100%	4h	0.2492	+0.090%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2485	−0.189%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2488	−0.071%	$282K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2472	−0.713%	$45K	$625K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2490	+0.010%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2487	−0.111%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2491	+0.050%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2487	−0.111%	$166K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2492	+0.085%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2490	−0.009%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0135% / S −0.0013%	1h	0.2490	long leg	$8K	—	100x
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2492	+0.077%	$647K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0309%	1h	0.2491	+0.034%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2491	+0.050%	$327K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	+0.335%	$0	—	15x	as long as short