Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0033%/8h= −3.7% APRpaid last 24h +3.837%

Price spread now: KuCoin against GMX−0.102%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 KuCoin

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 −$1 a day on $10k at the current rate, and KuCoin is 0.102% cheaper against GMX than usual: you would sell low and buy high (−$10 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]	0.2494	L +0.0133% / S −0.0012%	pay 0.0017% / 1h	23m 43s	$8K	—	100x
Short	KuCoin WIFUSDTM	0.2491	0.0100	get 0.0050% / 4h	23m 43s	$4.6M	$14.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin 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 KuCoinbpOrdersPrice spread, now −0.102%Rate

Funding earned: −$7.02
Price spread: −0.102% → 0.000%: −$10.19
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$41.2
Costs to cover: 0.240%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; KuCoin: 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 KuCoin live order book, 5 min ago	4.01 bp	25.6 bp −$26	77.6 bp −$776	doesn't fit	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
BloFin WIF-USDT	−0.0187%	4h	0.2499	+0.219%	$997K	$833K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0152%	1h	0.2493	−0.038%	$76K	$291K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2492	−0.081%	$19K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2494	+0.018%	$45K	$256K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2494	+0.013%	$806	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.944%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2494	+0.002%	$138K	$631K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2493	−0.022%	$57K	$497K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2495	+0.064%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2493	−0.038%	$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	0.2492	−0.065%	$18.8M	$118.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2490	−0.142%	$16.9M	$39.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2491	−0.102%	$6.0M	$36.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2492	−0.062%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2491	−0.102%	$23.0M	$11.4M	50x	as long as short
KuCoin WIFUSDTMshort	+0.0100%	4h	0.2491	−0.102%	$4.6M	$14.4M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2491	−0.102%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2492	−0.062%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2501	+0.301%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2501	+0.299%	$284K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2500	+0.259%	$46K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2494	+0.018%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2489	−0.182%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2493	−0.018%	$580	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2495	+0.059%	$167K	$699K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2490	−0.148%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2494	+0.001%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0133% / S −0.0012%	1h	0.2494	long leg	$8K	—	100x
Kraken Futures PF_WIFUSD	+0.0260%	1h	0.2494	+0.015%	$648K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0295%	1h	0.2497	+0.135%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2496	+0.099%	$328K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2493	−0.018%	$0	—	15x	as long as short