Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 22:00 UTC+0.0793%/8h= +86.9% APRpaid last 24h −0.096%

Price spread now: GMX against OKX−0.074%52s7-day average — · you buy dearer than you sell

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

Long on OKX 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

Funding pays, the price is against you. GMX is 0.074% cheaper against OKX than usual: you would sell low and buy high (spread −0.074% now, against zero (this spread has no 7-day history yet)). If the spread goes back, that is −$7 on $10k: about 7 hours of funding at the current rate (+$24 a day). The two prices were read 52 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	OKX WIF-USDT-SWAP	0.2367	0.0100	pay 0.0050% / 4h	2h 01m	$6.0M	$30.2M	50x
Short	GMX WIF/USD [WBTC.b-USDC]	0.2365	L +0.0170% / S −0.0893%	get 0.0112% / 1h	1m 39s	$4K	—	100x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GMX against OKX. 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 OKXbpFee GMXbpOrdersPrice spread, now −0.074%Rate

Funding earned: $166.62
Price spread: −0.074% → 0.000%: −$7.44
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee GMX: 6 bp × 2 orders: −$12
Net: $137.18
Costs to cover: 0.220%
Break-even: 1.2 days

Slippage unknown: OKX: live order book, 2 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 OKX live order book, 2 min ago	2.12 bp	13.3 bp −$13	32.8 bp −$328	doesn't fit	doesn't fit
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
Backpack WIF_USDC_PERP	−0.0611%	1h	0.2364	−0.139%	$73K	$235K	10x	as long as short
Injective WIF/USDC PERP	−0.0321%	1h	0.2395	+1.183%	$10K	$10K	12x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0173%	1h	0.2365	−0.084%	$46K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0162%	4h	0.2363	−0.169%	$4.2M	$11.2M	75x	as long as short
Kraken Futures PF_WIFUSD	−0.0077%	1h	0.2367	+0.011%	$626K	$2.1M	50x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2364	−0.130%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2366	−0.052%	$14K	—	150x	as long as short
Variational Omni WIF	+0.0031%	4h	0.2358	−0.364%	$67K	$65K	—	as long as short
Aster WIFUSDT	+0.0065%	4h	0.2364	−0.116%	$23K	$255K	10x	as long as short
GRVT WIF_USDT_Perp	+0.0080%	4h	0.2360	−0.283%	$271K	$1.8M	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2365	−0.084%	$4K	$1.3M	10x	as long as short
Gate WIF_USDT	+0.0092%	4h	0.2364	−0.127%	$1.2M	$6.9M	50x	as long as short
Lighter WIF	+0.0096%	1h	0.2364	−0.135%	$131K	$541K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2365	−0.084%	$52K	$483K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2366	−0.059%	$7.3M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2364	−0.131%	$75K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2365	−0.097%	$17.5M	$99.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2364	−0.127%	$16.5M	$34.7M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2367	long leg	$6.0M	$30.2M	50x
MEXC WIF_USDT	+0.0100%	4h	0.2362	−0.211%	$21.1M	$10.8M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2365	−0.084%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2362	−0.211%	—	$2.3M	—	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2361	−0.253%	$41K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2360	−0.296%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2364	−0.106%	$540	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2362	−0.211%	$163K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2364	−0.115%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2364	−0.119%	$79K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]short	L +0.0170% / S −0.0893%	1h	0.2365	−0.074%	$4K	—	100x
Coinbase International WIF-PERP-INTX	+0.0272%	1h	0.2367	0.000%	$311K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2362	−0.211%	$970K	$685K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2365	−0.069%	$0	—	15x	as long as short