Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC−0.0607%/8h= −66.4% APRpaid last 24h −0.005%

Price spread now: Variational Omni against Injective−0.163%91s7-day average — · you buy dearer than you sell

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

Long on Injective Short on Variational Omni

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

Both sides work against this trade now: funding costs −$18 a day on $10k at the current rate, and Variational Omni is 0.163% cheaper against Injective than usual: you would sell low and buy high (−$16 if the spread goes back to zero (this spread has no 7-day history yet)). Swap the legs. The two prices were read 91 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	Injective WIF/USDC PERP	0.2393	0.0707	pay 0.0088% / 1h	39m 57s	$10K	$10K	12x
Short	Variational Omni WIF	0.2389	0.0100	get 0.0050% / 4h	2h 39m	$89K	$173K	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Variational Omni 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 Variational OmnibpOrdersPrice spread, now −0.163%Rate

Funding earned: −$127.41
Price spread: −0.163% → 0.000%: −$16.27
Slippage, 4 orders: no order book: not counted
Fee Injective: 0.01 bp × 2 orders: −$0.02
Fee Variational Omni: 0 bp × 2 orders: $0
Net: −$143.7
Costs to cover: 0.000%
Break-even: never at this rate

Slippage unknown: Injective: no order-book sample; Variational Omni: RFQ quote, 59 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 Variational Omni RFQ quote, 59 min ago	7.84 bp	doesn't fit	23.5 bp −$235	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
BloFin WIF-USDT	−0.0144%	4h	0.2390	−0.125%	$1.0M	$892K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2390	−0.141%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2387	−0.251%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2388	−0.188%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0010%	1h	0.2385	−0.347%	$71K	$315K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0096% / S +0.0030%	1h	0.2387	−0.242%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2388	−0.213%	$143K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2390	−0.125%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2389	−0.167%	$8.4M	$6.1M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2386	−0.299%	$33K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2389	−0.161%	$75K	$68K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2385	−0.333%	$18.6M	$137.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2385	−0.330%	$16.4M	$45.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2385	−0.334%	$5.5M	$38.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2386	−0.293%	$1.1M	$8.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2385	−0.334%	$21.6M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2385	−0.334%	$3.9M	$15.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2386	−0.293%	$7.2M	$15.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2384	−0.376%	—	$27.1M	—	as long as short
Variational Omni WIFshort	+0.0100%	4h	0.2389	−0.163%	$89K	$173K	—
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2392	−0.051%	$271K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2407	+0.585%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2386	−0.293%	$4K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2382	−0.460%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2386	−0.293%	$551	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2388	−0.209%	$169K	$777K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2385	−0.339%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2387	−0.272%	$80K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0251%	1h	0.2386	−0.301%	$634K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2388	−0.209%	$320K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2389	−0.161%	$0	—	15x	as long as short
Injective WIF/USDC PERPlong	+0.0707%	1h	0.2393	long leg	$10K	$10K	12x