Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.006%

Price spread now: Extended against Orderly+0.113%7-day average +0.004% · you sell dearer than you buy

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

Long on Orderly Short on Extended

What this pair did over the last

the charts below follow

Funding, last 7 days+0.048%+$5 on $10k

Price spread, last 4 days (all we have)−0.217%−$22 · spread now +0.113%, 7d avg +0.004%

Together, before fees−0.169%+ Points / potential airdropExtended: Active · farm board−$17 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: Extended is 0.109% dearer against Orderly than usual: you sell high and buy low, +$11 on $10k if it goes back to its 7-day average of +0.004%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2459	0.0100	pay 0.0050% / 4h	1h 59m	$5K	$1.1M	10x
Short	Extended WIF-USD	0.2462	0.0104	get 0.0013% / 1h	59m 01s	$11K	$165K	25x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Extended 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 ExtendedbpOrdersPrice spread, now +0.113%Rate

Funding earned: $0.84
Price spread: +0.113% → +0.004%: $10.92
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Extended: 2.5 bp × 2 orders: −$5
Net: $0.76
Costs to cover: 0.110%
Break-even: 0.7 days

Slippage unknown: Orderly: no order-book sample; Extended: live order book, 47 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 Extended live order book, 47 min ago	6.13 bp	18.7 bp −$19	99.3 bp −$993	doesn't fit	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2401	−2.359%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2456	−0.122%	$976K	$927K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2449	−0.427%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2458	−0.031%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0073% / S +0.0252%	1h	0.2458	−0.046%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2460	+0.053%	$142K	$678K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2450	−0.366%	$53K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2463	+0.159%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2462	+0.110%	$28K	$349K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2451	−0.334%	$77K	$69K	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	0.2462	+0.122%	$18.6M	$141.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2463	+0.163%	$16.6M	$46.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2462	+0.122%	$5.5M	$41.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2460	+0.041%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2459	0.000%	$22.5M	$12.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2458	−0.041%	$4.1M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2464	+0.203%	$7.5M	$15.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2459	0.000%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2459	+0.016%	$73K	$296K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2448	−0.445%	$73K	$192K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.404%	$271K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2449	−0.407%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2459	long leg	$5K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2447	−0.488%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2459	−0.020%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2451	−0.325%	$149K	$880K	75x	as long as short
Extended WIF-USDshort	+0.0104%	1h	0.2462	+0.113%	$11K	$165K	25x
Aevo WIF-PERP	+0.0104%	1h	0.2458	−0.041%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0157%	1h	0.2459	0.000%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0347%	1h	0.2460	+0.054%	$636K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2457	−0.081%	$359K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2458	−0.037%	$0	—	15x	as long as short