Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h −0.013%

Price spread now: Bybit against Orderly−0.079%7-day average −0.006% · you buy dearer than you sell

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

Long on Orderly Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 7 days−0.049%−$5 on $10k

Price spread, last 4 days (all we have)+0.002%$0 · spread now −0.079%, 7d avg −0.006%

Together, before fees−0.047%−$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: Bybit is 0.073% cheaper against Orderly than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.006%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2527	0.0100	pay 0.0050% / 4h	3m 24s	$5K	$1.3M	10x
Short	Bybit WIFUSDT	0.2525	0.0100	get 0.0050% / 4h	3m 24s	$17.2M	$40.6M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit against Orderly. 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 OrderlybpFee BybitbpOrdersPrice spread, now −0.079%Rate

Funding earned: $0
Price spread: −0.079% → −0.006%: −$7.28
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$24.28
Costs to cover: 0.170%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Bybit: live order book, 5 min ago. 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 Orderly no order-book sample	—	—	—	—	—
Sell Bybit live order book, 5 min ago	1.99 bp	11.4 bp −$11	26.4 bp −$264	153.8 bp −$15.4K	doesn't fit

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
BloFin WIF-USDT	−0.0210%	4h	0.2510	−0.673%	$1.0M	$854K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0038%	1h	0.2513	−0.562%	$76K	$297K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2517	−0.415%	$18K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2526	−0.040%	$816	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−2.256%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2520	−0.261%	$139K	$631K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2523	−0.158%	$56K	$512K	20x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2522	−0.216%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2518	−0.343%	$78K	$61K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2527	0.000%	$19.3M	$120.8M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDTshort	+0.0100%	4h	0.2525	−0.079%	$17.2M	$40.6M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2526	−0.040%	$6.1M	$37.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2527	0.000%	$1.2M	$7.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2526	−0.040%	$23.3M	$11.5M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2527	0.000%	$4.5M	$14.6M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2527	0.000%	$7.7M	$13.5M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2523	−0.158%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2502	−0.987%	$86K	$79K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2506	−0.844%	$284K	$2.4M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2510	−0.673%	$46K	$626K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2527	long leg	$5K	$1.3M	10x
SunX WIF-USDT	+0.0100%	4h	0.2502	−0.989%	$1K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2510	−0.693%	$582	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2516	−0.435%	$166K	$703K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2522	−0.207%	$11K	$150K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2509	−0.710%	$84K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0127% / S −0.0008%	1h	0.2526	−0.042%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0149%	1h	0.2509	−0.712%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0258%	1h	0.2516	−0.438%	$651K	$2.3M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2513	−0.554%	$334K	$2.9M	50x	as long as short
Hyperliquid WIF	+0.0346%	1h	0.2530	+0.099%	$8.3M	$5.0M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2527	+0.004%	$1	—	15x	as long as short