Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0158%/8h= −17.3% APRpaid last 24h +3.830%

Price spread now: BloFin against GMX+0.093%7-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 BloFin

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. BloFin is 0.093% dearer against GMX than usual: you sell high and buy low (spread +0.093% now, against zero (this spread has no 7-day history yet)): +$9 on $10k if it goes back. Holding the pair costs −$5 a day in funding at the current rate, which eats that in about 47 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	GMX WIF/USD [WBTC.b-USDC]	0.2503	L +0.0018% / S +0.0191%	pay 0.0002% / 1h	6m 59s	$16K	—	100x
Short	BloFin WIF-USDT	0.2505	−0.0140	pay 0.0070% / 4h	1h 06m	$984K	$947K	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BloFin 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 BloFinbpOrdersPrice spread, now +0.093%Rate

Funding earned: −$33.11
Price spread: +0.093% → 0.000%: $9.31
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee BloFin: 6 bp × 2 orders: −$12
Net: −$47.8
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; BloFin: live order book, 15 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 BloFin live order book, 15 min ago	6.05 bp	15.8 bp −$16	34.9 bp −$349	81.0 bp −$8,098	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−1.625%	$10K	$11K	12x	as long as short
BloFin WIF-USDTshort	−0.0140%	4h	0.2505	+0.093%	$984K	$947K	75x
dYdX WIF-USD	0.0000%	1h	0.2499	−0.165%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2502	−0.014%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0013%	1h	0.2502	−0.043%	$75K	$297K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0018% / S +0.0191%	1h	0.2503	long leg	$16K	—	100x
Lighter WIF	+0.0096%	1h	0.2505	+0.097%	$144K	$703K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2501	−0.067%	$53K	$572K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2505	+0.097%	$8.7M	$6.5M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2504	+0.065%	$30K	$352K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2499	−0.135%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2505	+0.093%	$19.1M	$144.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2504	+0.057%	$16.9M	$47.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2504	+0.053%	$5.6M	$42.4M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2501	−0.067%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2503	+0.013%	$22.6M	$12.3M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2503	+0.013%	$4.4M	$16.7M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2505	+0.093%	$7.6M	$15.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2499	−0.147%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2490	−0.505%	$73K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2503	+0.032%	$287K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2502	−0.027%	$46K	$634K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2503	+0.013%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2499	−0.147%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2504	+0.033%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2497	−0.227%	$154K	$942K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2503	+0.005%	$14K	$169K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2503	+0.016%	$84K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0150%	1h	0.2504	+0.053%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0341%	1h	0.2506	+0.115%	$650K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2505	+0.093%	$331K	$3.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2499	−0.162%	$0	—	15x	as long as short