Funding arb · Price arb /

WIF

all WIF markets

Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 05:00 UTC−0.0125%/8h= −13.7% APRpaid last 24h −0.050%

Price spread now: GMX against MEXC+0.211%7-day average — · you sell dearer than you buy

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

Long on MEXC Short on GMX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)—no history yet

Price spread, last 7 days—no price history on both exchanges yet

Together, before fees—needs both histories

The price spread pays, funding is against you. GMX is 0.211% dearer against MEXC than usual: you sell high and buy low (spread +0.211% now, against zero (this spread has no 7-day history yet)): +$21 on $10k if it goes back. Holding the pair costs −$4 a day in funding at the current rate, which eats that in about 5.6 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2496	0.0100	pay 0.0050% / 4h	3h 00m	$23.0M	$11.8M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2501	L +0.0104% / S +0.0025%	pay 0.0003% / 1h	0m 45s	$9K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against MEXC. 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 MEXCbpFee GMXbpOrdersPrice spread, now +0.211%Rate

Funding earned: −$26.29
Price spread: +0.211% → 0.000%: $21.07
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee GMX: 6 bp × 2 orders: −$12
Net: −$21.21
Costs to cover: 0.160%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; GMX: no order-book sample. 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 MEXC live order book, 3 min ago	1.99 bp	6.6 bp −$7	20.8 bp −$208	109.0 bp −$10.9K	151.4 bp −$75.7K
Sell GMX no order-book sample	—	—	—	—	—

GMX: 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	−0.0208%	4h	0.2499	+0.120%	$1.1M	$905K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2496	−0.017%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2502	+0.240%	$33K	$272K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2500	+0.180%	—	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2555	+2.364%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2499	+0.120%	$144K	$654K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2502	+0.240%	$52K	$564K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2498	+0.096%	$44K	$313K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2498	+0.061%	$78K	$67K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2498	+0.079%	$19.8M	$131.7M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2495	−0.048%	$17.1M	$43.6M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2496	0.000%	$6.0M	$38.9M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2497	+0.040%	$1.2M	$8.5M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2496	long leg	$23.0M	$11.8M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2495	−0.040%	$4.3M	$15.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2498	+0.080%	$7.7M	$14.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2498	+0.080%	—	$26.7M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2499	+0.104%	$73K	$312K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2500	+0.163%	$86K	$146K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2530	+1.348%	$284K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2514	+0.721%	$46K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2502	+0.240%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2496	0.000%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2501	+0.200%	$583	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2500	+0.160%	$165K	$737K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2498	+0.073%	$11K	$144K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2502	+0.223%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0104% / S +0.0025%	1h	0.2501	+0.211%	$9K	—	100x
Coinbase International WIF-PERP-INTX	+0.0352%	1h	0.2505	+0.361%	$346K	$3.0M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0367%	1h	0.2502	+0.255%	$654K	$2.4M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2503	+0.284%	$1	—	15x	as long as short
Hyperliquid WIF	+0.0793%	1h	0.2500	+0.140%	$8.5M	$5.4M	5x	as long as short