Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 04:00 UTC−0.0004%/8h= −0.4% APRpaid last 24h +0.012%

Price spread now: Popdex against Orderly−0.120%7-day average +0.040% · you buy dearer than you sell

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

Long on Orderly Short on Popdex

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)+0.044%+$4 on $10k

Price spread, last 4 days (all we have)+0.047%+$5 · spread now −0.120%, 7d avg +0.040%

Together, before fees+0.091%+$9 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: Popdex is 0.160% cheaper against Orderly than usual: you would sell low and buy high, −$16 on $10k if it goes back to its 7-day average of +0.040%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Orderly PERP_WIF_USDC	0.2502	0.0100	pay 0.0050% / 4h	26m 26s	$5K	$1.3M	10x
Short	Popdex WIFUSDT	0.2499	0.0096	get 0.0012% / 1h	26m 26s	$57K	$497K	20x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Popdex 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 PopdexbpOrdersPrice spread, now −0.120%Rate

Funding earned: −$0.84
Price spread: −0.120% → +0.040%: −$15.96
Slippage, 4 orders: no order book: not counted
Fee Orderly: 3 bp × 2 orders: −$6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Net: −$29.2
Costs to cover: 0.124%
Break-even: never at this rate

Slippage unknown: Orderly: no order-book sample; Popdex: live order book, 32 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 Popdex live order book, 32 min ago	6.04 bp	40.8 bp −$41	doesn't fit	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	−0.0181%	4h	0.2498	−0.160%	$1.0M	$831K	75x	as long as short
Backpack WIF_USDC_PERP	−0.0173%	1h	0.2501	−0.052%	$77K	$291K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2502	−0.019%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2502	0.000%	$808	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−1.279%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2502	+0.020%	$140K	$630K	10x	as long as short
Popdex WIFUSDTshort	+0.0096%	1h	0.2499	−0.120%	$57K	$497K	20x
Aster WIFUSDT	+0.0100%	4h	0.2499	−0.105%	$33K	$284K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2502	+0.013%	$78K	$60K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2501	−0.038%	$18.9M	$118.6M	75x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2501	−0.040%	$17.0M	$39.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2503	+0.040%	$6.0M	$36.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2500	−0.080%	$1.2M	$7.7M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2499	−0.120%	$23.1M	$11.4M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2498	−0.160%	$4.6M	$14.5M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2499	−0.120%	$7.6M	$13.3M	50x	as long as short
BingX WIF-USDT	+0.0100%	4h	0.2501	−0.040%	—	$23.5M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2485	−0.677%	$76K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2488	−0.560%	$282K	$2.3M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2491	−0.440%	$46K	$624K	25x	as long as short
Orderly PERP_WIF_USDClong	+0.0100%	4h	0.2502	long leg	$5K	$1.3M	10x
SunX WIF-USDT	+0.0100%	4h	0.2491	−0.440%	$2K	$2.9M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2500	−0.080%	$584	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2495	−0.280%	$167K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2497	−0.205%	$9K	$147K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2502	+0.020%	$83K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0134% / S −0.0013%	1h	0.2501	−0.020%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0150%	1h	0.2499	−0.120%	$45K	$256K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0259%	1h	0.2501	−0.032%	$649K	$2.3M	50x	as long as short
Hyperliquid WIF	+0.0296%	1h	0.2504	+0.084%	$8.1M	$4.9M	5x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2498	−0.160%	$329K	$2.7M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2499	−0.117%	$0	—	15x	as long as short