Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.020%

Price spread now: Popdex against KuCoin−0.040%7-day average +0.035% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$190as in the Price arb table

costs, in and out, $10k−$1831.826% of the position

Long on KuCoin Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.088%+$9 on $10k

Price spread, last 4 days (all we have)+0.118%+$12 · spread now −0.040%, 7d avg +0.035%

Together, before fees+0.206%+$21 on $10k · with fees, hour by hour

Funding between these two exchanges is close to zero, so right now this pair is about the price spread alone: Popdex is 0.075% cheaper against KuCoin than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.035%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	KuCoin WIFUSDTM	0.2494	0.0100	pay 0.0050% / 4h	1h 04m	$4.4M	$16.7M	75x
Short	Popdex WIFUSDT	0.2493	0.0096	get 0.0012% / 1h	4m 13s	$53K	$572K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex against KuCoin. 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 KuCoinbpFee PopdexbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$0.84
Price spread: −0.040% → +0.035%: −$7.55
Slippage, 4 orders: −$164.24
Fee KuCoin: 6 bp × 2 orders: −$12
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$191.03
Costs to cover: 1.826%
Break-even: never at this rate

Slippage from KuCoin: live order book, 5 min ago; Popdex: live order book, 40 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 KuCoin live order book, 5 min ago	3.99 bp	22.6 bp −$23	68.6 bp −$686	doesn't fit	doesn't fit
Sell Popdex live order book, 40 min ago	6.11 bp	55.1 bp −$55	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2462	−1.283%	$10K	$11K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2497	+0.120%	$982K	$944K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2494	−0.020%	$14K	$587	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2492	−0.080%	$33K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2493	−0.029%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0015% / S +0.0236%	1h	0.2492	−0.069%	$19K	—	100x	as long as short
Backpack WIF_USDC_PERP	+0.0022%	1h	0.2496	+0.092%	$75K	$297K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2494	+0.004%	$143K	$703K	10x	as long as short
Popdex WIFUSDTshort	+0.0096%	1h	0.2493	−0.040%	$53K	$572K	20x
Hyperliquid WIF	+0.0100%	1h	0.2495	+0.024%	$8.7M	$6.5M	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	0.2493	−0.035%	$30K	$351K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2496	+0.061%	$78K	$70K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2492	−0.080%	$19.0M	$144.8M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2491	−0.120%	$16.8M	$47.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2491	−0.120%	$5.6M	$42.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2493	−0.040%	$1.2M	$9.2M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2492	−0.080%	$22.4M	$12.3M	50x	as long as short
KuCoin WIFUSDTMlong	+0.0100%	4h	0.2494	long leg	$4.4M	$16.7M	75x
Bitget WIFUSDT	+0.0100%	4h	0.2492	−0.080%	$7.5M	$15.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2496	+0.080%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2502	+0.323%	$74K	$193K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2503	+0.379%	$287K	$2.9M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2502	+0.321%	$46K	$634K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2494	0.000%	$5K	$1.0M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2489	−0.200%	$2K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2492	−0.088%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2486	−0.321%	$153K	$946K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2491	−0.129%	$10K	$176K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2492	−0.099%	$83K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0342%	1h	0.2493	−0.028%	$647K	$2.7M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2501	+0.281%	$330K	$3.3M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2492	−0.096%	$0	—	15x	as long as short