Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC−0.0273%/8h= −29.9% APRpaid last 24h +0.040%

Price spread now: Gate against Kraken Futures−0.020%7-day average −0.051% · you buy dearer than you sell

Net, funding: paid 7d − costs−$87as in the Funding arb table

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$940.942% of the position

Long on Kraken Futures Short on Gate

What this pair did over the last

the charts below follow

Funding, last 7 days+0.077%+$8 on $10k

Price spread, last 3 days (all we have)−0.175%−$17 · spread now −0.020%, 7d avg −0.051%

Together, before fees−0.098%−$10 on $10k · with fees, hour by hour

The price spread pays, funding is against you. Gate is 0.031% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.020% now, against its 7-day average of −0.051%): +$3 on $10k if it goes back. Holding the pair costs −$8 a day in funding at the current rate, which eats that in about 9 hours. Mind the row above: over the last 7 days funding on this pair paid +0.077%, so the current rate has only just turned against you.

The current funding rate is far above what this pair has been paying: over the last 7 days it paid 0.077% in total (about 4.0% a year). A funding rate is set anew for every payment. In the chart: green and red are payments made, yellow is the current rate, not paid yet.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Kraken Futures PF_WIFUSD	0.2422	0.0373	pay 0.0047% / 1h	10m 38s	$633K	$2.1M	50x
Short	Gate WIF_USDT	0.2422	0.0100	get 0.0050% / 4h	1h 10m	$1.2M	$7.0M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Gate against Kraken Futures. 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 Kraken FuturesbpFee GatebpOrdersPrice spread, now −0.020%Rate

Funding earned: −$57.41
Price spread: −0.020% → −0.051%: $3.06
Slippage, 4 orders: −$69.25
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee Gate: 7.5 bp × 2 orders: −$15
Net: −$148.6
Costs to cover: 0.942%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; Gate: live order book, 3 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 Kraken Futures live order book, 3 min ago	8.22 bp	22.0 bp −$22	58.5 bp −$585	doesn't fit	doesn't fit
Sell Gate live order book, 3 min ago	2.06 bp	28.8 bp −$29	145.7 bp −$1,457	276.9 bp −$27.7K	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
Backpack WIF_USDC_PERP	−0.0283%	1h	0.2418	−0.198%	$74K	$246K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0163%	1h	0.2421	−0.062%	$48K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0034%	4h	0.2419	−0.144%	$4.1M	$11.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2421	−0.062%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2423	+0.002%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.135%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2422	−0.020%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2422	0.000%	$135K	$550K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2422	−0.020%	$54K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2422	−0.009%	$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	0.2419	−0.126%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2421	−0.043%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2421	−0.053%	$18.0M	$101.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2419	−0.132%	$16.8M	$35.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2420	−0.103%	$6.1M	$31.4M	50x	as long as short
Gate WIF_USDTshort	+0.0100%	4h	0.2422	−0.020%	$1.2M	$7.0M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2422	−0.020%	$22.0M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2422	−0.020%	$7.5M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2422	−0.020%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2420	−0.095%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2429	+0.269%	$277K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2429	+0.269%	$43K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2419	−0.144%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2421	−0.078%	$551	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2419	−0.144%	$168K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2420	−0.113%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2421	−0.062%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0233% / S −0.1328%	1h	0.2423	+0.006%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2426	+0.145%	$319K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2420	−0.103%	$974K	$713K	75x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0373%	1h	0.2422	long leg	$633K	$2.1M	50x
Reya WIFRUSDPERP	+0.0558%	1h	0.2421	−0.054%	$0	—	15x	as long as short