Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 02:00 UTC−0.0100%/8h= −10.9% APRpaid last 24h −0.017%

Price spread now: dYdX against Orderly+0.144%7-day average — · you sell dearer than you buy

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

Long on Orderly Short on dYdX

What this pair did over the last

the charts below follow

Funding, last 5 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

The price spread pays, funding is against you. dYdX is 0.144% dearer against Orderly than usual: you sell high and buy low (spread +0.144% now, against zero (this spread has no 7-day history yet)): +$14 on $10k if it goes back. Holding the pair costs −$3 a day in funding at the current rate, which eats that in about 4.8 days.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2488	0.0100	pay 0.0050% / 4h	2h 25m	$5K	$1.3M	10x
Short	dYdX WIF-USD	0.2492	0	get 0.0000% / 1h	25m 56s	$19K	$589	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

dYdX 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 dYdXbpOrdersPrice spread, now +0.144%Rate

Funding earned: −$21
Price spread: +0.144% → 0.000%: $14.37
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee dYdX: 5 bp × 2 orders: −$10
Net: −$22.62
Costs to cover: 0.160%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; dYdX: 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 Orderly no order-book sample	—	—	—	—	—
Sell dYdX no order-book sample	—	—	—	—	—

Orderly and dYdX: 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 31 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
Injective WIF/USDC PERP	−0.0783%	1h	0.2470	−0.723%	$11K	$10K	12x	as long as short
Kraken Futures PF_WIFUSD	−0.0074%	1h	0.2490	+0.071%	$646K	$2.3M	50x	as long as short
Gate WIF_USDT	−0.0046%	4h	0.2488	0.000%	$1.2M	$7.4M	50x	as long as short
dYdX WIF-USDshort	0.0000%	1h	0.2492	+0.144%	$19K	$589	10x
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2489	+0.040%	$49K	$276K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2488	+0.014%	$804	—	150x	as long as short
KuCoin WIFUSDTM	+0.0036%	4h	0.2489	+0.040%	$4.5M	$13.1M	75x	as long as short
Backpack WIF_USDC_PERP	+0.0068%	1h	0.2487	−0.040%	$79K	$272K	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2491	+0.125%	$140K	$624K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2493	+0.201%	$57K	$497K	20x	as long as short

Show all 31 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2488	long leg	$5K	$1.3M	10x
Aster WIFUSDT	+0.0100%	4h	0.2490	+0.066%	$35K	$274K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2492	+0.179%	$77K	$54K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2488	+0.003%	$18.9M	$112.5M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2486	−0.080%	$17.0M	$38.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2486	−0.080%	$5.9M	$34.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2488	0.000%	$22.3M	$11.1M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2486	−0.080%	$7.5M	$12.4M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2489	+0.040%	—	$65.9M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2486	−0.077%	$76K	$70K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2470	−0.723%	$274K	$2.0M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2475	−0.523%	$43K	$628K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2488	0.000%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2489	+0.044%	$569	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2486	−0.080%	$170K	$727K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2485	−0.108%	$11K	$155K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2489	+0.031%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0172% / S −0.0038%	1h	0.2488	−0.010%	$8K	—	100x	as long as short
Hyperliquid WIF	+0.0224%	1h	0.2493	+0.197%	$8.1M	$4.7M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0304%	1h	0.2492	+0.161%	$329K	$2.6M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2489	+0.045%	$0	—	15x	as long as short