Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0098%/8h= −10.8% APRpaid last 24h −0.010%

Price spread now: gTrade (Gains Network) against GRVT−0.222%68s7-day average — · you buy dearer than you sell

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

Long on GRVT Short on gTrade (Gains Network)

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—+ Points / potential airdropGRVT: Active · farm boardneeds both histories

Both sides work against this trade now: funding costs −$3 a day on $10k at the current rate, and gTrade (Gains Network) is 0.222% cheaper against GRVT than usual: you would sell low and buy high (−$22 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 68 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	0.2405	0.0100	pay 0.0050% / 4h	1h 34m	$273K	$1.8M	10x
Short	gTrade (Gains Network) WIF/USD	0.2400	L +0.0002% / S −0.0002%	get 0.0000% / 1h	34m 05s	$15K	—	150x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

gTrade (Gains Network) 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 gTrade (Gains Network)bpOrdersPrice spread, now −0.222%Rate

Funding earned: −$20.68
Price spread: −0.222% → 0.000%: −$22.2
Slippage, 4 orders: no order book: not counted
Fee GRVT: 4.5 bp × 2 orders: −$9
Fee gTrade (Gains Network): 5 bp × 2 orders: −$10
Net: −$61.89
Costs to cover: 0.190%
Break-even: never at this rate

Slippage unknown: GRVT: live order book, 4 min ago; gTrade (Gains Network): no order-book sample. 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 GRVT live order book, 4 min ago	2.08 bp	34.1 bp −$34	104.4 bp −$1,044	doesn't fit	doesn't fit
Sell gTrade (Gains Network) no order-book sample	—	—	—	—	—

gTrade (Gains Network): 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	−0.0282%	1h	0.2400	−0.225%	$76K	$239K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0167%	1h	0.2400	−0.208%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0094%	4h	0.2399	−0.249%	$4.2M	$11.4M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2402	−0.136%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USDshort	L +0.0002% / S −0.0002%	1h	0.2400	−0.222%	$15K	—	150x
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.416%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2400	−0.208%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2402	−0.133%	$135K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2397	−0.333%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2404	−0.054%	$7.5M	$4.0M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2396	−0.375%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2401	−0.150%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2400	−0.193%	$17.9M	$100.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2400	−0.208%	$16.7M	$35.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2402	−0.125%	$6.0M	$31.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2399	−0.249%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2400	−0.208%	$21.5M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2401	−0.166%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2399	−0.249%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2405	+0.009%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perplong	+0.0100%	4h	0.2405	long leg	$273K	$1.8M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2415	+0.416%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2394	−0.457%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2401	−0.187%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2397	−0.333%	$166K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2401	−0.184%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2400	−0.219%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0204% / S −0.1131%	1h	0.2399	−0.269%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2400	−0.208%	$316K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2403	−0.083%	$973K	$705K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0376%	1h	0.2404	−0.047%	$627K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2396	−0.365%	$0	—	15x	as long as short