Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 09:00 UTC−0.0618%/8h= −67.7% APRpaid last 24h +0.005%

Price spread now: SunX against Kraken Futures−0.181%7-day average −0.234% · you buy dearer than you sell

Net, funding: paid 7d − costs−$193as in the Funding arb table

Net, price: spread back to 7d avg − costs−$203as in the Price arb table

costs, in and out, $10k−$2082.083% of the position

Long on Kraken Futures Short on SunX

What this pair did over the last

the charts below follow

Funding, last 7 days+0.156%+$16 on $10k

Price spread, last 4 days (all we have)−0.074%−$7 · spread now −0.181%, 7d avg −0.234%

Together, before fees+0.082%+$8 on $10k · with fees, hour by hour

The price spread pays, funding is against you. SunX is 0.053% dearer against Kraken Futures than usual: you sell high and buy low (spread −0.181% now, against its 7-day average of −0.234%): +$5 on $10k if it goes back. Holding the pair costs −$19 a day in funding at the current rate, which eats that in about 7 hours. Mind the row above: over the last 7 days funding on this pair paid +0.156%, 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 0.156% in total (about 8.2% 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	0.2577	0.0718	pay 0.0090% / 1h	0m 36s	$665K	$3.0M	50x
Short	SunX WIF-USDT	0.2572	0.0100	get 0.0050% / 4h	3h 00m	$2K	$3.3M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

SunX 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 SunXbpOrdersPrice spread, now −0.181%Rate

Funding earned: −$129.8
Price spread: −0.181% → −0.234%: $5.33
Slippage, 4 orders: −$190.31
Fee Kraken Futures: 5 bp × 2 orders: −$10
Fee SunX: 4 bp × 2 orders: −$8
Net: −$332.79
Costs to cover: 2.083%
Break-even: never at this rate

Slippage from Kraken Futures: live order book, 3 min ago; SunX: live order book, 7 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	7.75 bp	29.1 bp −$29	2906.7 bp −$29.1K	doesn't fit	doesn't fit
Sell SunX live order book, 7 min ago	32.64 bp	60.7 bp −$61	doesn't fit	doesn't fit	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
GMX WIF/USD [WBTC.b-USDC]	L −0.0142% / S +0.0172%	1h	0.2576	−0.041%	$8K	—	100x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2575	−0.064%	$1.1M	$1.1M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2574	−0.122%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2576	−0.014%	$4K	—	150x	as long as short
Orderly PERP_WIF_USDC	+0.0096%	4h	0.2576	−0.026%	$6K	$1.1M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2577	+0.002%	$145K	$856K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2576	−0.026%	$51K	$632K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2574	−0.103%	$10.3M	$9.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2575	−0.047%	$32K	$435K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2576	−0.038%	$80K	$94K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2576	−0.023%	$20.7M	$170.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2575	−0.084%	$17.8M	$58.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2575	−0.064%	$6.4M	$51.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2576	−0.026%	$1.3M	$12.4M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2576	−0.026%	$23.8M	$15.8M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2574	−0.103%	$3.9M	$18.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2576	−0.026%	$7.7M	$19.1M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2574	−0.103%	—	$27.6M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2568	−0.332%	$81K	$353K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2567	−0.374%	$79K	$371K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2583	+0.245%	$296K	$3.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2593	+0.634%	$36K	$651K	25x	as long as short
SunX WIF-USDTshort	+0.0100%	4h	0.2572	−0.181%	$2K	$3.3M	50x
SoDEX WIF-USD	+0.0100%	1h	0.2575	−0.072%	$3K	$6K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2571	−0.220%	$171K	$997K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2575	−0.083%	$9K	$214K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2575	−0.050%	$86K	—	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0138%	1h	0.2576	−0.026%	$34K	$261K	25x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2580	+0.130%	$354K	$4.1M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2602	+0.983%	$10K	$28K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2574	−0.122%	$1	—	15x	as long as short
Kraken Futures PF_WIFUSDlong	+0.0718%	1h	0.2577	long leg	$665K	$3.0M	50x