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 −0.007%

Price spread now: Binance against Popdex−0.108%7-day average −0.033% · 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−$150as in the Price arb table

costs, in and out, $10k−$1431.428% of the position

Long on Popdex Short on Binance

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.009%−$1 on $10k

Price spread, last 4 days (all we have)−0.165%−$17 · spread now −0.108%, 7d avg −0.033%

Together, before fees−0.174%−$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: Binance is 0.075% cheaper against Popdex than usual: you would sell low and buy high, −$7 on $10k if it goes back to its 7-day average of −0.033%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2475	0.0096	pay 0.0012% / 1h	47m 58s	$57K	$497K	20x
Short	Binance WIFUSDT	0.2472	0.0100	get 0.0050% / 4h	47m 58s	$19.1M	$115.8M	75x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Binance 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 BinancebpOrdersPrice spread, now −0.108%Rate

Funding earned: $0.84
Price spread: −0.108% → −0.033%: −$7.48
Slippage, 4 orders: −$126.41
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Binance: 5 bp × 2 orders: −$10
Net: −$149.45
Costs to cover: 1.428%
Break-even: 1252.4 days

Slippage from Popdex: live order book, 11 min ago; Binance: live order book, 10 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, 11 min ago	6.04 bp	78.3 bp −$78	doesn't fit	doesn't fit	doesn't fit
Sell Binance live order book, 10 min ago	2.02 bp	10.7 bp −$11	26.7 bp −$267	92.5 bp −$9,251	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
Backpack WIF_USDC_PERP	−0.0290%	1h	0.2472	−0.137%	$81K	$278K	10x	as long as short
BloFin WIF-USDT	−0.0183%	4h	0.2468	−0.283%	$1.0M	$825K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2471	−0.180%	$19K	$597	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S +0.0001%	1h	0.2474	−0.025%	$800	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2470	−0.202%	$11K	$10K	12x	as long as short
Lighter WIF	+0.0096%	1h	0.2475	−0.008%	$139K	$629K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2475	long leg	$57K	$497K	20x
Aster WIFUSDT	+0.0100%	4h	0.2475	−0.015%	$34K	$283K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2472	−0.112%	$76K	$57K	5x	as long as short
Binance WIFUSDTshort	+0.0100%	4h	0.2472	−0.108%	$19.1M	$115.8M	75x

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Bybit WIFUSDT	+0.0100%	4h	0.2468	−0.287%	$17.0M	$38.9M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2472	−0.121%	$5.9M	$35.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2470	−0.202%	$1.2M	$7.6M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2472	−0.121%	$22.4M	$11.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2472	−0.121%	$4.5M	$13.9M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2472	−0.121%	$7.4M	$13.0M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2467	−0.323%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2478	+0.124%	$75K	$69K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2489	+0.547%	$285K	$2.2M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2483	+0.323%	$45K	$624K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2473	−0.081%	$5K	$1.3M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2470	−0.202%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2472	−0.101%	$566	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2467	−0.323%	$165K	$695K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2471	−0.158%	$8K	$149K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2472	−0.105%	$82K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0141% / S −0.0017%	1h	0.2474	−0.041%	$8K	—	100x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0155%	1h	0.2473	−0.081%	$44K	$260K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0262%	1h	0.2474	−0.058%	$646K	$2.3M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0328%	1h	0.2475	0.000%	$329K	$2.7M	50x	as long as short
Hyperliquid WIF	+0.0376%	1h	0.2479	+0.166%	$8.1M	$4.8M	5x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2472	−0.138%	$0	—	15x	as long as short