Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0607%/8h= +66.4% APRpaid last 24h −0.040%

Price spread now: Injective against MEXC+1.955%85s7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Injective is 1.955% dearer against MEXC than usual: you sell high and buy low: +$196 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 85 seconds apart, so part of this spread may be the market moving, not a spread.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2506	0.0100	pay 0.0050% / 4h	2h 55m	$23.0M	$11.8M	50x
Short	Injective WIF/USDC PERP	0.2555	0.0707	get 0.0088% / 1h	55m 52s	$11K	$10K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +1.955%Rate

Funding earned: $127.41
Price spread: +1.955% → 0.000%: $195.53
Slippage, 4 orders: no order book: not counted
Fee MEXC: 2 bp × 2 orders: −$4
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $318.92
Costs to cover: 0.040%
Break-even: from the start

Slippage unknown: MEXC: live order book, 3 min ago; Injective: 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	2.01 bp	9.5 bp −$9	26.3 bp −$263	113.1 bp −$11.3K	148.8 bp −$74.4K
Sell Injective no order-book sample	—	—	—	—	—

Injective: 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	−0.0199%	4h	0.2513	+0.279%	$1.1M	$911K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2515	+0.379%	$14K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2511	+0.200%	$33K	$272K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2509	+0.120%	—	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2512	+0.247%	$145K	$654K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2511	+0.200%	$53K	$566K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2508	+0.072%	$41K	$313K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2514	+0.321%	$78K	$67K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2507	+0.047%	$19.7M	$132.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2505	−0.020%	$17.3M	$43.8M	50x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2504	−0.080%	$5.9M	$39.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2507	+0.040%	$1.2M	$8.5M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2506	long leg	$23.0M	$11.8M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2508	+0.080%	$4.4M	$15.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2502	−0.160%	$7.7M	$14.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2507	+0.040%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2507	+0.052%	$73K	$312K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2508	+0.082%	$76K	$156K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2497	−0.348%	$278K	$2.6M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2495	−0.439%	$46K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2510	+0.160%	$5K	$1.2M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2506	0.000%	$2K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2510	+0.160%	$581	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2510	+0.160%	$165K	$738K	75x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0102% / S +0.0026%	1h	0.2509	+0.124%	$9K	—	100x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2506	−0.008%	$11K	$161K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2510	+0.144%	$84K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0238%	1h	0.2512	+0.228%	$656K	$2.4M	50x	as long as short
Hyperliquid WIF	+0.0400%	1h	0.2507	+0.052%	$8.8M	$5.6M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2510	+0.160%	$335K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2507	+0.024%	$1	—	15x	as long as short
Injective WIF/USDC PERPshort	+0.0707%	1h	0.2555	+1.955%	$11K	$10K	12x