Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0109%/8h= −12.0% APRpaid last 24h +0.032%

Price spread now: KuCoin against Injective+0.042%7-day average — · you sell dearer than you buy

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

Long on Injective Short on KuCoin

What this pair did over the last

the charts below follow

Funding, last 4 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. KuCoin is 0.042% dearer against Injective than usual: you sell high and buy low (spread +0.042% now, against zero (this spread has no 7-day history yet)): +$4 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 31 hours.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Injective WIF/USDC PERP	0.2395	0.0033	pay 0.0004% / 1h	29m 14s	$10K	$10K	12x
Short	KuCoin WIFUSDTM	0.2396	−0.0076	pay 0.0038% / 4h	1h 29m	$4.1M	$11.4M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

KuCoin against Injective. 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 InjectivebpFee KuCoinbpOrdersPrice spread, now +0.042%Rate

Funding earned: −$22.96
Price spread: +0.042% → 0.000%: $4.18
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee KuCoin: 6 bp × 2 orders: −$12
Net: −$30.8
Costs to cover: 0.120%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; KuCoin: live order book, 4 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 Injective no order-book sample	—	—	—	—	—
Sell KuCoin live order book, 4 min ago	2.09 bp	17.2 bp −$17	55.5 bp −$555	doesn't fit	doesn't fit

Injective: 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	−0.0317%	1h	0.2390	−0.192%	$74K	$239K	10x	as long as short
KuCoin WIFUSDTMshort	−0.0076%	4h	0.2396	+0.042%	$4.1M	$11.4M	75x
dYdX WIF-USD	0.0000%	1h	0.2397	+0.070%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2402	+0.292%	$47K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2401	+0.232%	$15K	—	150x	as long as short
Injective WIF/USDC PERPlong	+0.0033%	1h	0.2395	long leg	$10K	$10K	12x
Orderly PERP_WIF_USDC	+0.0092%	4h	0.2401	+0.251%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2402	+0.296%	$135K	$549K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2398	+0.125%	$53K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2402	+0.288%	$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	0.2397	+0.079%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2397	+0.085%	$76K	$50K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2399	+0.158%	$17.8M	$100.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2400	+0.209%	$16.6M	$35.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2400	+0.209%	$6.0M	$31.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2399	+0.167%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2398	+0.125%	$21.4M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2401	+0.251%	$7.4M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2397	+0.084%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2396	+0.029%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2392	−0.113%	$265K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2400	+0.209%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2396	+0.042%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2402	+0.271%	$550	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2397	+0.084%	$166K	$718K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2401	+0.232%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2403	+0.321%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0210% / S −0.1174%	1h	0.2400	+0.220%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2396	+0.042%	$316K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2401	+0.251%	$983K	$705K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0376%	1h	0.2403	+0.354%	$629K	$2.2M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2399	+0.154%	$0	—	15x	as long as short