Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 12:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.012%

Price spread now: Orderly against OKX−0.080%7-day average −0.042% · you buy dearer than you sell

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

Long on OKX Short on Orderly

What this pair did over the last

the charts below follow

Funding, last 7 days−0.084%−$8 on $10k

Price spread, last 4 days (all we have)+0.136%+$14 · spread now −0.080%, 7d avg −0.042%

Together, before fees+0.052%+$5 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: Orderly is 0.039% cheaper against OKX than usual: you would sell low and buy high, −$4 on $10k if it goes back to its 7-day average of −0.042%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	OKX WIF-USDT-SWAP	0.2489	0.0100	pay 0.0050% / 4h	3h 58m	$5.8M	$47.0M	50x
Short	Orderly PERP_WIF_USDC	0.2487	0.0100	get 0.0050% / 4h	3h 58m	$6K	$1.0M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Orderly 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 OrderlybpOrdersPrice spread, now −0.080%Rate

Funding earned: $0
Price spread: −0.080% → −0.042%: −$3.86
Slippage, 4 orders: no order book: not counted
Fee OKX: 5 bp × 2 orders: −$10
Fee Orderly: 3 bp × 2 orders: −$6
Net: −$19.86
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: OKX: live order book, 5 min ago; Orderly: 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, 5 min ago	2.00 bp	22.5 bp −$22	46.2 bp −$462	doesn't fit	doesn't fit
Sell Orderly no order-book sample	—	—	—	—	—

Orderly: 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
GMX WIF/USD [WBTC.b-USDC]	L −0.0265% / S +0.0293%	1h	0.2488	−0.053%	$19K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0152%	1h	0.2485	−0.161%	$33K	$274K	25x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2484	−0.201%	$1.0M	$1.0M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2486	−0.135%	$14K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2488	−0.021%	$4K	—	150x	as long as short
Lighter WIF	+0.0096%	1h	0.2489	−0.012%	$147K	$799K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2487	−0.080%	$53K	$578K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2492	+0.129%	$9.9M	$8.7M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2493	+0.169%	$33K	$404K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2488	−0.057%	$77K	$84K	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	0.2492	+0.102%	$19.7M	$162.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2489	0.000%	$16.7M	$54.1M	50x	as long as short
OKX WIF-USDT-SWAPlong	+0.0100%	4h	0.2489	long leg	$5.8M	$47.0M	50x
Gate WIF_USDT	+0.0100%	4h	0.2489	0.000%	$1.5M	$10.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2493	+0.161%	$24.2M	$15.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2493	+0.161%	$3.9M	$17.8M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2494	+0.201%	$7.5M	$17.8M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2489	0.000%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2491	+0.076%	$74K	$321K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2429	−2.404%	$115K	$320K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2446	−1.719%	$272K	$3.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2489	0.000%	$35K	$648K	25x	as long as short
Orderly PERP_WIF_USDCshort	+0.0100%	4h	0.2487	−0.080%	$6K	$1.0M	10x
SunX WIF-USDT	+0.0100%	4h	0.2481	−0.321%	$2K	$3.2M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2486	−0.133%	$577	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2472	−0.683%	$153K	$946K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2493	+0.167%	$10K	$211K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2487	−0.092%	$83K	—	3x	as long as short
Coinbase International WIF-PERP-INTX	+0.0312%	1h	0.2490	+0.040%	$330K	$3.7M	50x	as long as short
Injective WIF/USDC PERP	+0.0323%	1h	0.2480	−0.362%	$10K	$27K	12x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2485	−0.164%	$0	—	15x	as long as short
Kraken Futures PF_WIFUSD	+0.0744%	1h	0.2487	−0.091%	$652K	$2.9M	50x	as long as short