Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 03:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.007%

Price spread now: Popdex against MEXC−0.040%7-day average +0.041% · 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−$165as in the Price arb table

costs, in and out, $10k−$1571.570% of the position

Long on MEXC Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.008%+$1 on $10k

Price spread, last 4 days (all we have)+0.140%+$14 · spread now −0.040%, 7d avg +0.041%

Together, before fees+0.148%+$15 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 0.081% cheaper against MEXC than usual: you would sell low and buy high, −$8 on $10k if it goes back to its 7-day average of +0.041%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	MEXC WIF_USDT	0.2472	0.0100	pay 0.0050% / 4h	1h 32m	$22.3M	$11.0M	50x
Short	Popdex WIFUSDT	0.2471	0.0096	get 0.0012% / 1h	32m 59s	$57K	$497K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.040%Rate

Funding earned: −$0.84
Price spread: −0.040% → +0.041%: −$8.1
Slippage, 4 orders: −$146.6
Fee MEXC: 2 bp × 2 orders: −$4
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$165.94
Costs to cover: 1.570%
Break-even: never at this rate

Slippage from MEXC: live order book, 1 min ago; Popdex: live order book, 31 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 MEXC live order book, 1 min ago	2.02 bp	7.4 bp −$7	16.4 bp −$164	97.1 bp −$9,712	143.3 bp −$71.7K
Sell Popdex live order book, 31 min ago	4.04 bp	76.8 bp −$77	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
BloFin WIF-USDT	−0.0176%	4h	0.2474	+0.081%	$1.0M	$825K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2468	−0.182%	$18K	$589	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2471	−0.027%	$799	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.081%	$11K	$10K	12x	as long as short
Gate WIF_USDT	+0.0044%	4h	0.2470	−0.081%	$1.2M	$7.5M	50x	as long as short
Backpack WIF_USDC_PERP	+0.0068%	1h	0.2471	−0.028%	$78K	$280K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2474	+0.089%	$140K	$627K	10x	as long as short
Popdex WIFUSDTshort	+0.0096%	1h	0.2471	−0.040%	$57K	$497K	20x
Aster WIFUSDT	+0.0100%	4h	0.2471	−0.038%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2470	−0.093%	$76K	$56K	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	0.2473	+0.040%	$18.9M	$114.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2470	−0.077%	$17.0M	$38.4M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2471	−0.040%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDTlong	+0.0100%	4h	0.2472	long leg	$22.3M	$11.0M	50x
KuCoin WIFUSDTM	+0.0100%	4h	0.2471	−0.040%	$4.4M	$13.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2471	−0.040%	$7.4M	$12.7M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2470	−0.081%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2463	−0.363%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2470	−0.093%	$284K	$2.1M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2470	−0.081%	$42K	$628K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2473	+0.040%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2469	−0.121%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2473	+0.028%	$571	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2466	−0.243%	$166K	$691K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2470	−0.069%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2472	+0.008%	$82K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0137%	1h	0.2473	+0.038%	$648K	$2.3M	50x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0155%	1h	0.2472	0.000%	$46K	$258K	25x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0156% / S −0.0027%	1h	0.2471	−0.036%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0293%	1h	0.2477	+0.213%	$8.0M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2471	−0.040%	$330K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2471	−0.058%	$0	—	15x	as long as short