Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC−0.0046%/8h= −5.1% APRpaid last 24h +3.944%

Price spread now: MEXC against GMX−0.071%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 MEXC

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 MEXC is 0.071% cheaper against GMX than usual: you would sell low and buy high (−$7 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]	0.2386	L +0.0146% / S −0.0723%	pay 0.0018% / 1h	22m 11s	$4K	—	100x
Short	MEXC WIF_USDT	0.2384	0.0100	get 0.0050% / 4h	2h 22m	$21.3M	$10.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.071%Rate

Funding earned: −$9.74
Price spread: −0.071% → 0.000%: −$7.08
Slippage, 4 orders: no order book: not counted
Fee GMX: 6 bp × 2 orders: −$12
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$32.82
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: GMX: no order-book sample; MEXC: live order book, 1 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 MEXC live order book, 1 min ago	2.10 bp	10.8 bp −$11	24.3 bp −$243	101.4 bp −$10.1K	150.0 bp −$75.0K

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	−0.0642%	1h	0.2383	−0.100%	$74K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+0.390%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	−0.0192%	4h	0.2383	−0.113%	$4.2M	$11.2M	75x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0169%	1h	0.2386	+0.013%	$47K	$289K	25x	as long as short
Kraken Futures PF_WIFUSD	−0.0076%	1h	0.2387	+0.054%	$630K	$2.1M	50x	as long as short
Variational Omni WIF	−0.0011%	4h	0.2382	−0.158%	$67K	$47K	—	as long as short
dYdX WIF-USD	0.0000%	1h	0.2381	−0.202%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2386	+0.001%	$15K	—	150x	as long as short
Aster WIFUSDT	+0.0034%	4h	0.2384	−0.067%	$23K	$254K	10x	as long as short
Gate WIF_USDT	+0.0042%	4h	0.2382	−0.155%	$1.2M	$6.9M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
GRVT WIF_USDT_Perp	+0.0044%	4h	0.2372	−0.574%	$273K	$1.8M	10x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2385	−0.029%	$4K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2386	−0.008%	$132K	$540K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2382	−0.155%	$53K	$482K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2386	+0.013%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2381	−0.204%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2385	−0.048%	$17.7M	$99.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2383	−0.113%	$16.7M	$34.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2384	−0.071%	$6.0M	$30.3M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2384	−0.071%	$21.3M	$10.8M	50x
Bitget WIFUSDT	+0.0100%	4h	0.2386	+0.013%	$7.2M	$11.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2383	−0.113%	—	$65.0M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2371	−0.616%	$42K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2379	−0.280%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2384	−0.050%	$543	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2380	−0.239%	$165K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2384	−0.062%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2385	−0.033%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]long	L +0.0146% / S −0.0723%	1h	0.2386	long leg	$4K	—	100x
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2385	−0.029%	$311K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2383	−0.113%	$975K	$690K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2384	−0.054%	$0	—	15x	as long as short