Funding arb · Price arb /

WIF

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Swap Backtest

Alert: funding

Alert: spread

Funding you earn now, next payment 07:00 UTC+0.0004%/8h= +0.4% APRpaid last 24h −0.025%

Price spread now: Bybit against Popdex+0.531%7-day average −0.050% · you sell dearer than you buy

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

Net, price: spread back to 7d avg − costs−$91as in the Price arb table

costs, in and out, $10k−$1491.491% of the position

Long on Popdex Short on Bybit

What this pair did over the last

the charts below follow

Funding, last 4 days (all we have)−0.033%−$3 on $10k

Price spread, last 4 days (all we have)−0.698%−$70 · spread now +0.531%, 7d avg −0.050%

Together, before fees−0.731%−$73 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: Bybit is 0.580% dearer against Popdex than usual: you sell high and buy low, +$58 on $10k if it goes back to its 7-day average of −0.050%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2450	0.0096	pay 0.0012% / 1h	59m 01s	$53K	$570K	20x
Short	Bybit WIFUSDT	0.2463	0.0100	get 0.0050% / 4h	1h 59m	$16.6M	$46.8M	50x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

Bybit 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 BybitbpOrdersPrice spread, now +0.531%Rate

Funding earned: $0.84
Price spread: +0.531% → −0.050%: $58.03
Slippage, 4 orders: −$131.74
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee Bybit: 5.5 bp × 2 orders: −$11
Net: −$90.26
Costs to cover: 1.491%
Break-even: 759.2 days

Slippage from Popdex: live order book, 50 min ago; Bybit: live order book, 5 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, 50 min ago	4.08 bp	70.7 bp −$71	doesn't fit	doesn't fit	doesn't fit
Sell Bybit live order book, 5 min ago	2.04 bp	11.2 bp −$11	28.7 bp −$287	163.3 bp −$16.3K	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
Injective WIF/USDC PERP	−0.0467%	1h	0.2401	−2.000%	$10K	$10K	12x	as long as short
BloFin WIF-USDT	−0.0140%	4h	0.2456	+0.245%	$976K	$927K	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2449	−0.061%	$13K	$587	10x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0001%	1h	0.2458	+0.336%	—	—	150x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0073% / S +0.0252%	1h	0.2458	+0.321%	$21K	—	100x	as long as short
Lighter WIF	+0.0096%	1h	0.2460	+0.420%	$142K	$678K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2450	long leg	$53K	$570K	20x
Hyperliquid WIF	+0.0100%	1h	0.2463	+0.527%	$8.5M	$6.4M	5x	as long as short
Aster WIFUSDT	+0.0100%	4h	0.2462	+0.478%	$28K	$349K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2451	+0.032%	$77K	$69K	5x	as long as short

Show all 32 venues

Exchange	Funding /8h	Every	Price	Price vs long leg	OI	Vol 24h	Max lev
Binance WIFUSDT	+0.0100%	4h	0.2462	+0.490%	$18.6M	$141.7M	75x	as long as short
Bybit WIFUSDTshort	+0.0100%	4h	0.2463	+0.531%	$16.6M	$46.8M	50x
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2462	+0.490%	$5.5M	$41.2M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2460	+0.408%	$1.1M	$9.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2459	+0.367%	$22.5M	$12.1M	50x	as long as short
KuCoin WIFUSDTM	+0.0100%	4h	0.2458	+0.327%	$4.1M	$16.2M	75x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2464	+0.571%	$7.5M	$15.5M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2459	+0.367%	—	$2.3M	—	as long as short
Backpack WIF_USDC_PERP	+0.0100%	1h	0.2459	+0.384%	$73K	$296K	10x	as long as short
Variational Omni WIF	+0.0100%	4h	0.2448	−0.080%	$73K	$192K	—	as long as short
GRVT WIF_USDT_Perp	+0.0100%	4h	0.2449	−0.039%	$271K	$2.8M	10x	as long as short
ApeX Omni WIFUSDT	+0.0100%	1h	0.2449	−0.041%	$45K	$630K	25x	as long as short
Orderly PERP_WIF_USDC	+0.0100%	4h	0.2459	+0.367%	$5K	$1.1M	10x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2447	−0.122%	$1K	$3.1M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2459	+0.347%	$565	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2451	+0.041%	$149K	$880K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2462	+0.481%	$11K	$165K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2458	+0.327%	$82K	$85	3x	as long as short
Deribit WIF_USDC-PERPETUAL	+0.0157%	1h	0.2459	+0.367%	$33K	$274K	25x	as long as short
Kraken Futures PF_WIFUSD	+0.0347%	1h	0.2460	+0.421%	$636K	$2.6M	50x	as long as short
Coinbase International WIF-PERP-INTX	+0.0384%	1h	0.2457	+0.286%	$359K	$3.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2458	+0.330%	$0	—	15x	as long as short