Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 06:00 UTC+0.0607%/8h= +66.4% APRpaid last 24h −0.036%

Price spread now: Injective against Orderly+0.503%58s7-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 Injective

What this pair did over the last

the charts below follow

Funding, last 4 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

Both sides work for this trade now. Funding pays +$18 a day on $10k at the current rate, and Injective is 0.503% dearer against Orderly than usual: you sell high and buy low: +$50 more if the spread goes back to zero (this spread has no 7-day history yet). The two prices were read 58 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	0.2386	0.0100	pay 0.0050% / 4h	2h 23m	$4K	$1.1M	10x
Short	Injective WIF/USDC PERP	0.2398	0.0707	get 0.0088% / 1h	23m 39s	$10K	$10K	12x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Injective 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 InjectivebpOrdersPrice spread, now +0.503%Rate

Funding earned: $127.41
Price spread: +0.503% → 0.000%: $50.29
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Injective: 0.01 bp × 2 orders: −$0.02
Net: $171.68
Costs to cover: 0.060%
Break-even: from the start

Slippage unknown: Orderly: no order-book sample; Injective: 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 Injective no order-book sample	—	—	—	—	—

Orderly and Injective: 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	0.2385	−0.042%	$975K	$899K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2386	0.000%	$13K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2385	−0.027%	—	—	150x	as long as short
Backpack WIF_USDC_PERP	+0.0014%	1h	0.2384	−0.063%	$73K	$317K	10x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0089% / S +0.0030%	1h	0.2386	−0.015%	$8K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2387	+0.050%	$145K	$670K	10x	as long as short
Popdex WIFUSDT	+0.0096%	1h	0.2387	+0.042%	$51K	$570K	20x	as long as short
Hyperliquid WIF	+0.0100%	1h	0.2388	+0.080%	$8.4M	$6.2M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2387	+0.022%	$29K	$330K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2387	+0.025%	$75K	$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	0.2387	+0.022%	$18.5M	$139.0M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2385	−0.029%	$16.2M	$46.1M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2385	−0.042%	$5.4M	$39.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2385	−0.042%	$1.1M	$8.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2386	0.000%	$21.5M	$12.0M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2386	0.000%	$3.9M	$16.0M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2386	0.000%	$7.2M	$15.3M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2378	−0.335%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2376	−0.415%	$87K	$174K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2378	−0.319%	$269K	$2.7M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2377	−0.377%	$44K	$629K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2386	long leg	$4K	$1.1M	10x
SunX WIF-USDT	+0.0100%	4h	0.2384	−0.084%	$1K	$3.0M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2387	+0.063%	$551	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2380	−0.251%	$154K	$829K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2384	−0.070%	$8K	$161K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2387	+0.042%	$80K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0169%	1h	0.2388	+0.084%	$32K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0250%	1h	0.2388	+0.083%	$619K	$2.5M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0416%	1h	0.2386	0.000%	$320K	$3.0M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2385	−0.037%	$0	—	15x	as long as short
Injective WIF/USDC PERPshort	+0.0707%	1h	0.2398	+0.503%	$10K	$10K	12x