Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 08:00 UTC0.0000%/8h= 0.0% APRnext payment +$0.00 per $10,000 · paid last 24h +0.001%

Price spread now: GRVT against Orderly−0.010%70s7-day average +0.139% · you buy dearer than you sell

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

Long on Orderly Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 7 days+0.068%+$7 on $10k

Price spread, last 4 days (all we have)−0.108%−$11 · spread now −0.010%, 7d avg +0.139%

Together, before fees−0.041%+ Points / potential airdropGRVT: Active · farm board−$4 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: GRVT is 0.149% cheaper against Orderly than usual: you would sell low and buy high, −$15 on $10k if it goes back to its 7-day average of +0.139%. The two prices were read 70 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	Orderly PERP_WIF_USDC	0.2389	0.0100	pay 0.0050% / 4h	2h 38m	$4K	$1.1M	10x
Short	GRVT WIF_USDT_Perp	0.2389	0.0100	get 0.0050% / 4h	2h 38m	$268K	$2.7M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.010%Rate

Funding earned: $0
Price spread: −0.010% → +0.139%: −$14.9
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$29.9
Costs to cover: 0.150%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; GRVT: 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 GRVT live order book, 5 min ago	10.41 bp	26.8 bp −$27	86.4 bp −$864	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
BloFin WIF-USDT	−0.0140%	4h	0.2386	−0.126%	$1.0M	$890K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0013%	1h	0.2386	−0.121%	$72K	$316K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2382	−0.309%	$13K	$597	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2392	+0.126%	$32K	$274K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2386	−0.107%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0095% / S +0.0031%	1h	0.2387	−0.063%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2394	+0.213%	$144K	$667K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2385	−0.167%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2386	−0.142%	$8.5M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2392	+0.105%	$29K	$330K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Pacifica WIF	+0.0100%	1h	0.2387	−0.088%	$75K	$69K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2392	+0.105%	$18.7M	$137.3M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2392	+0.109%	$16.4M	$45.7M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2392	+0.126%	$5.5M	$39.1M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2387	−0.084%	$1.1M	$8.8M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2387	−0.084%	$21.6M	$11.9M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2387	−0.084%	$3.9M	$15.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2391	+0.084%	$7.3M	$15.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2387	−0.084%	—	$27.1M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2389	+0.004%	$89K	$173K	—	as long as short
GRVT WIF_USDT_Perpshort	+0.0100%	4h	0.2389	−0.010%	$268K	$2.7M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2392	+0.126%	$44K	$628K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2389	long leg	$4K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2389	0.000%	$1K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2391	+0.071%	$552	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2389	0.000%	$168K	$778K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2391	+0.078%	$8K	$163K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2391	+0.084%	$80K	$85	3x	as long as short
Kraken Futures PF_WIFUSD	+0.0250%	1h	0.2393	+0.185%	$636K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2388	−0.042%	$322K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2386	−0.119%	$0	—	15x	as long as short
Injective WIF/USDC PERP	+0.0707%	1h	0.2393	+0.167%	$10K	$10K	12x	as long as short