Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 23:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h +0.001%

Price spread now: BingX against Popdex−0.124%7-day average −0.005% · 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−$188as in the Price arb table

costs, in and out, $10k−$1761.759% of the position

Long on Popdex Short on BingX

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.005%+$1 on $10k

Price spread, last 4 days (all we have)+0.173%+$17 · spread now −0.124%, 7d avg −0.005%

Together, before fees+0.178%+$18 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: BingX is 0.119% cheaper against Popdex than usual: you would sell low and buy high, −$12 on $10k if it goes back to its 7-day average of −0.005%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2422	0.0096	pay 0.0012% / 1h	10m 49s	$54K	$483K	20x
Short	BingX WIF-USDT	0.2419	0.0100	get 0.0050% / 4h	1h 10m	—	$65.3M	—

Funding history

latest

Range statsloading…

Price spread between the two exchanges

BingX 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 BingXbpOrdersPrice spread, now −0.124%Rate

Funding earned: $0.84
Price spread: −0.124% → −0.005%: −$11.9
Slippage, 4 orders: −$159.52
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee BingX: 5 bp × 2 orders: −$10
Net: −$186.98
Costs to cover: 1.759%
Break-even: 1565.1 days

Slippage from Popdex: live order book, 8 min ago; BingX: live order book, 8 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, 8 min ago	6.20 bp	60.6 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell BingX live order book, 8 min ago	2.07 bp	9.9 bp −$10	17.9 bp −$179	52.9 bp −$5,295	414.9 bp −$207.5K

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	−0.0283%	1h	0.2418	−0.178%	$74K	$246K	10x	as long as short
Deribit WIF_USDC-PERPETUAL	−0.0163%	1h	0.2421	−0.041%	$48K	$289K	25x	as long as short
KuCoin WIFUSDTM	−0.0034%	4h	0.2418	−0.165%	$4.1M	$11.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2424	+0.069%	$18K	$582	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2423	+0.022%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.115%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2422	0.000%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2422	+0.021%	$135K	$550K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2422	long leg	$54K	$483K	20x
Hyperliquid WIF	+0.0100%	1h	0.2422	+0.012%	$7.5M	$4.0M	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Aster WIFUSDT	+0.0100%	4h	0.2420	−0.096%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2423	+0.026%	$76K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2419	−0.104%	$18.0M	$101.1M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2418	−0.165%	$16.8M	$35.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2418	−0.165%	$6.1M	$31.3M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2420	−0.083%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2420	−0.083%	$22.0M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2421	−0.041%	$7.5M	$11.7M	50x	as long as short
BingX WIF-USDTshort	+0.0100%	4h	0.2419	−0.124%	—	$65.3M	—
Variational Omni WIF	+0.0100%	4h	0.2420	−0.074%	$71K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2429	+0.289%	$277K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2429	+0.289%	$43K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2419	−0.124%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2421	−0.058%	$551	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2419	−0.124%	$168K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2420	−0.103%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2421	−0.042%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0233% / S −0.1328%	1h	0.2423	+0.026%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2426	+0.165%	$319K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2420	−0.083%	$974K	$713K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0373%	1h	0.2422	+0.020%	$633K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2421	−0.034%	$0	—	15x	as long as short