Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

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

Price spread now: Bitget against Popdex−0.082%7-day average +0.027% · 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−$194as in the Price arb table

costs, in and out, $10k−$1831.831% of the position

Long on Popdex Short on Bitget

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)+0.003%$0 on $10k

Price spread, last 4 days (all we have)+0.143%+$14 · spread now −0.082%, 7d avg +0.027%

Together, before fees+0.146%+$15 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: Bitget is 0.110% cheaper against Popdex than usual: you would sell low and buy high, −$11 on $10k if it goes back to its 7-day average of +0.027%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2429	0.0096	pay 0.0012% / 1h	27m 23s	$54K	$484K	20x
Short	Bitget WIFUSDT	0.2427	0.0100	get 0.0050% / 4h	27m 23s	$7.5M	$11.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bitget 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 BitgetbpOrdersPrice spread, now −0.082%Rate

Funding earned: $0.84
Price spread: −0.082% → +0.027%: −$10.96
Slippage, 4 orders: −$164.66
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bitget: 6 bp × 2 orders: −$12
Net: −$193.18
Costs to cover: 1.831%
Break-even: 1616.8 days

Slippage from Popdex: live order book, 51 min ago; Bitget: live order book, 1 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, 51 min ago	6.20 bp	60.6 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell Bitget live order book, 1 min ago	4.12 bp	14.1 bp −$14	27.7 bp −$277	74.6 bp −$7,459	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	−0.0400%	1h	0.2424	−0.198%	$72K	$248K	10x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2428	−0.054%	$18K	$589	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2427	−0.082%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2427	−0.100%	$16K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.400%	$10K	$10K	12x	as long as short
KuCoin WIFUSDTM	+0.0042%	4h	0.2424	−0.206%	$4.3M	$11.6M	75x	as long as short
Orderly PERP_WIF_USDC	+0.0093%	4h	0.2427	−0.082%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2427	−0.062%	$136K	$571K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2429	long leg	$54K	$484K	20x
Hyperliquid WIF	+0.0100%	1h	0.2430	+0.029%	$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	0.2429	−0.016%	$24K	$256K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2428	−0.054%	$75K	$51K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2427	−0.081%	$18.0M	$103.6M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2426	−0.124%	$16.7M	$36.0M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2426	−0.124%	$6.0M	$32.0M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2427	−0.082%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2427	−0.082%	$21.9M	$10.8M	50x	as long as short
Bitget WIFUSDTshort	+0.0100%	4h	0.2427	−0.082%	$7.5M	$11.8M	50x
BingX WIF-USDC	+0.0100%	4h	0.2424	−0.206%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2424	−0.197%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2422	−0.288%	$275K	$1.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2427	−0.082%	$43K	$625K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2425	−0.165%	$2K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2426	−0.119%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2424	−0.206%	$168K	$740K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2427	−0.101%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2426	−0.124%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0191% / S −0.0138%	1h	0.2427	−0.092%	$6K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2427	−0.082%	$319K	$2.4M	50x	as long as short
Kraken Futures PF_WIFUSD	+0.0322%	1h	0.2428	−0.042%	$632K	$2.2M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2428	−0.041%	$986K	$726K	75x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2426	−0.135%	$0	—	15x	as long as short