WIF

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRnext payment +$0.00 per $10,000 · paid last 24h −0.206%

Price spread now: Backpack against Popdex−0.454%7-day average −0.092% · you buy dearer than you sell

Net, funding: paid 7d − costs—under 7 days of funding history

Net, price: spread back to 7d avg − costs−$189as in the Price arb table

costs, in and out, $10k−$1531.530% of the position

Long on Popdex Short on Backpack

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.573%−$57 on $10k

Price spread, last 4 days (all we have)+0.476%+$48 · spread now −0.454%, 7d avg −0.092%

Together, before fees−0.097%−$10 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: Backpack is 0.362% cheaper against Popdex than usual: you would sell low and buy high, −$36 on $10k if it goes back to its 7-day average of −0.092%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2400	0.0096	pay 0.0012% / 1h	54m 00s	$53K	$482K	20x
Short	Backpack WIF_USDC_PERP	0.2389	0.0100	get 0.0013% / 1h	54m 00s	$75K	$235K	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Backpack against Popdex. 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 PopdexbpFee BackpackbpOrdersPrice spread, now −0.454%Rate

Funding earned: $0.84
Price spread: −0.454% → −0.092%: −$36.22
Slippage, 4 orders: −$136.6
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Backpack: 5 bp × 2 orders: −$10
Net: −$188.38
Costs to cover: 1.530%
Break-even: 1576.9 days

Slippage from Popdex: live order book, 30 min ago; Backpack: live order book, 29 min ago.

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 Popdex live order book, 30 min ago	2.10 bp	67.6 bp −$68	doesn't fit	doesn't fit	doesn't fit
Sell Backpack live order book, 29 min ago	0.21 bp	7.6 bp −$8	doesn't fit	doesn't fit	doesn't fit

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
Deribit WIF_USDC-PERPETUAL	−0.0585%	1h	0.2392	−0.333%	$47K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0132%	4h	0.2394	−0.250%	$4.3M	$11.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2400	0.000%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2394	−0.266%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−0.208%	$10K	$10K	12x	as long as short
Variational Omni WIF	+0.0086%	4h	0.2384	−0.654%	$68K	$65K	—	as long as short
Orderly PERP_WIF_USDC	+0.0091%	4h	0.2393	−0.292%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2392	−0.337%	$133K	$542K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2400	long leg	$53K	$482K	20x
Aster WIFUSDT	+0.0097%	4h	0.2392	−0.349%	$25K	$255K	10x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Hyperliquid WIF	+0.0100%	1h	0.2393	−0.307%	$7.4M	$4.0M	5x	as long as short
Pacifica WIF	+0.0100%	1h	0.2401	+0.058%	$76K	$48K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2390	−0.417%	$17.7M	$99.7M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2390	−0.412%	$16.7M	$34.8M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2391	−0.375%	$6.1M	$30.6M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2391	−0.375%	$1.2M	$6.9M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2390	−0.417%	$21.4M	$10.6M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2390	−0.417%	$7.2M	$11.6M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2400	0.000%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERPshort	+0.0100%	1h	0.2389	−0.454%	$75K	$235K	10x
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2383	−0.708%	$274K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2379	−0.875%	$42K	$617K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2394	−0.250%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2392	−0.333%	$548	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2391	−0.375%	$165K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2392	−0.350%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2393	−0.310%	$80K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0180% / S −0.0961%	1h	0.2393	−0.299%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2391	−0.375%	$314K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2399	−0.042%	$970K	$704K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0378%	1h	0.2393	−0.291%	$629K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2397	−0.132%	$0	—	15x	as long as short