Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 00:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.020%

Price spread now: Bitget against GRVT+0.420%73s7-day average +0.115% · you sell dearer than you buy

Net, funding: paid 7d − costs−$84as in the Funding arb table

Net, price: spread back to 7d avg − costs—prices read too far apart to compare

costs, in and out, $10k−$870.868% of the position

Long on GRVT Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 7 days+0.030%+$3 on $10k

Price spread, last 3 days (all we have)−0.725%−$73 · spread now +0.420%, 7d avg +0.115%

Together, before fees−0.696%+ Points / potential airdropGRVT: Active · farm board−$70 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Bitget is 0.305% dearer against GRVT than usual: you sell high and buy low, +$30 on $10k if it goes back to its 7-day average of +0.115%. The two prices were read 73 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	GRVT WIF_USDT_Perp	0.2383	0.0100	pay 0.0050% / 4h	1h 54m	$274K	$1.8M	10x
Short	Bitget WIFUSDT	0.2393	0.0100	get 0.0050% / 4h	1h 54m	$7.3M	$11.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget against GRVT. 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 GRVTbpFee BitgetbpOrdersPrice spread, now +0.420%Rate

Funding earned: $0
Price spread: +0.420% → +0.115%: $30.45
Slippage, 4 orders: −$65.82
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$56.37
Costs to cover: 0.868%
Break-even: never at this rate

Slippage from GRVT: live order book, 4 min ago; Bitget: live order book, 4 min ago.

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 GRVT live order book, 4 min ago	2.12 bp	22.8 bp −$23	77.1 bp −$771	doesn't fit	doesn't fit
Sell Bitget live order book, 4 min ago	2.11 bp	15.3 bp −$15	21.4 bp −$214	74.9 bp −$7,489	doesn't fit

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
Deribit WIF_USDC-PERPETUAL	−0.0585%	1h	0.2392	+0.378%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0132%	4h	0.2399	+0.671%	$4.3M	$11.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2400	+0.713%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2394	+0.445%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	+0.504%	$10K	$10K	12x	as long as short
Variational Omni WIF	+0.0086%	4h	0.2384	+0.054%	$68K	$65K	—	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2393	+0.420%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2392	+0.374%	$133K	$542K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2400	+0.713%	$53K	$482K	20x	as long as short
Aster WIFUSDT	+0.0097%	4h	0.2396	+0.528%	$25K	$255K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2402	+0.793%	$7.5M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2401	+0.772%	$76K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2389	+0.262%	$17.7M	$99.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2390	+0.306%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2390	+0.294%	$6.1M	$30.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2396	+0.546%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2390	+0.294%	$21.4M	$10.6M	50x	as long as short
Bitget WIFUSDTshort	+0.0100%	4h	0.2393	+0.420%	$7.3M	$11.6M	50x
BingX WIF-USDC	+0.0100%	4h	0.2400	+0.713%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2398	+0.634%	$75K	$235K	10x	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2383	long leg	$274K	$1.8M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2379	−0.168%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2394	+0.462%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2392	+0.378%	$548	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2391	+0.336%	$165K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2392	+0.361%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2393	+0.402%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0180% / S −0.0961%	1h	0.2393	+0.413%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2391	+0.336%	$314K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2399	+0.671%	$970K	$704K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0378%	1h	0.2393	+0.421%	$629K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2397	+0.580%	$0	—	15x	as long as short