Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0639%/8h= −70.0% APRpaid last 24h 0.000%

Price spread now: MEXC against Kraken Futures−0.053%7-day average −0.067% · you buy dearer than you sell

Net, funding: paid 7d − costs−$56as in the Funding arb table

Net, price: spread back to 7d avg − costs−$66as in the Price arb table

costs, in and out, $10k−$670.672% of the position

Long on Kraken Futures Short on MEXC

What this pair did over the last

the charts below follow

Funding, last 7 days+0.110%+$11 on $10k

Price spread, last 4 days (all we have)−0.395%−$40 · spread now −0.053%, 7d avg −0.067%

Together, before fees−0.286%−$29 on $10k · with fees, hour by hour

The price spread sits at its 7-day average of −0.067%, so right now this pair is about funding alone: −$19 a day on $10k at the current rate. Mind the row above: over the last 7 days funding on this pair paid +0.110%, 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 0.110% in total (about 5.7% 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	0.2502	0.0739	pay 0.0092% / 1h	37m 58s	$642K	$3.0M	50x
Short	MEXC WIF_USDT	0.2501	0.0100	get 0.0050% / 4h	3h 37m	$24.4M	$15.4M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

MEXC 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 MEXCbpOrdersPrice spread, now −0.053%Rate

Funding earned: −$134.28
Price spread: −0.053% → −0.067%: $1.4
Slippage, 4 orders: −$53.2
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee MEXC: 2 bp × 2 orders: −$4
Net: −$200.08
Costs to cover: 0.672%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 1 min ago; MEXC: live order book, 1 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, 1 min ago	8.00 bp	22.4 bp −$22	46.3 bp −$463	doesn't fit	doesn't fit
Sell MEXC live order book, 1 min ago	2.00 bp	8.4 bp −$8	23.4 bp −$234	110.8 bp −$11.1K	146.3 bp −$73.2K

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
Gate WIF_USDT	−0.0394%	4h	0.2499	−0.133%	$1.3M	$11.4M	50x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L −0.0374% / S +0.0315%	1h	0.2498	−0.174%	$19K	—	100x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2494	−0.333%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2498	−0.190%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2498	−0.173%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0095%	4h	0.2498	−0.173%	$6K	$1.1M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2503	+0.027%	$145K	$826K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2498	−0.173%	$54K	$580K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2503	+0.019%	$10.0M	$9.1M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2500	−0.076%	$40K	$411K	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	0.2494	−0.334%	$77K	$88K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2502	−0.013%	$19.8M	$165.9M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2500	−0.081%	$17.5M	$55.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2502	−0.013%	$5.9M	$48.4M	50x	as long as short
MEXC WIF_USDTshort	+0.0100%	4h	0.2501	−0.053%	$24.4M	$15.4M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2499	−0.133%	$3.9M	$18.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2501	−0.053%	$7.6M	$18.2M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2496	−0.253%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2501	−0.033%	$85K	$334K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2493	−0.369%	$76K	$366K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2494	−0.333%	$281K	$3.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2497	−0.213%	$35K	$652K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2493	−0.373%	$1K	$3.3M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2499	−0.129%	$578	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2496	−0.253%	$153K	$944K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2501	−0.059%	$12K	$216K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2499	−0.118%	$83K	—	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0150%	1h	0.2500	−0.093%	$33K	$274K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2502	−0.013%	$341K	$3.8M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2509	+0.266%	$10K	$28K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2498	−0.169%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0739%	1h	0.2502	long leg	$642K	$3.0M	50x