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 −0.019%

Price spread now: GRVT against Popdex−0.205%7-day average −0.084% · 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−$220as in the Price arb table

costs, in and out, $10k−$2082.077% of the position

Long on Popdex Short on GRVT

What this pair did over the last

the charts below follow

Funding, last 3 days (all we have)−0.026%−$3 on $10k

Price spread, last 3 days (all we have)+0.435%+$44 · spread now −0.205%, 7d avg −0.084%

Together, before fees+0.409%+ Points / potential airdropGRVT: Active · farm board+$41 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: GRVT is 0.122% 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 −0.084%.

Leg	Exchange	Price	Funding /8h	Each payment	Next in	OI	Vol 24h	Max lev
Long	Popdex WIFUSDT	0.2434	0.0096	pay 0.0012% / 1h	9m 25s	$54K	$483K	20x
Short	GRVT WIF_USDT_Perp	0.2429	0.0100	get 0.0050% / 4h	1h 09m	$277K	$1.8M	10x

Funding history

latest

Range statsloading…

Price spread between the two exchanges

GRVT 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 GRVTbpOrdersPrice spread, now −0.205%Rate

Funding earned: $0.84
Price spread: −0.205% → −0.084%: −$12.16
Slippage, 4 orders: −$192.35
Fee Popdex: 3.2 bp × 2 orders: −$6.4
Fee GRVT: 4.5 bp × 2 orders: −$9
Net: −$219.07
Costs to cover: 2.077%
Break-even: 1832.6 days

Slippage from Popdex: live order book, 9 min ago; GRVT: live order book, 4 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, 9 min ago	6.20 bp	60.6 bp −$61	doesn't fit	doesn't fit	doesn't fit
Sell GRVT live order book, 4 min ago	2.06 bp	18.4 bp −$18	100.2 bp −$1,002	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
Backpack WIF_USDC_PERP	−0.0291%	1h	0.2427	−0.288%	$74K	$246K	10x	as long as short
KuCoin WIFUSDTM	−0.0028%	4h	0.2432	−0.082%	$4.1M	$11.2M	75x	as long as short
dYdX WIF-USD	0.0000%	1h	0.2434	−0.014%	$18K	$582	10x	as long as short
Deribit WIF_USDC-PERPETUAL	0.0000%	1h	0.2433	−0.041%	$48K	$289K	25x	as long as short
gTrade (Gains Network) WIF/USD	L +0.0002% / S −0.0002%	1h	0.2434	−0.019%	$15K	—	150x	as long as short
Injective WIF/USDC PERP	+0.0033%	1h	0.2395	−1.602%	$10K	$10K	12x	as long as short
Orderly PERP_WIF_USDC	+0.0090%	4h	0.2432	−0.082%	$5K	$1.3M	10x	as long as short
Lighter WIF	+0.0096%	1h	0.2434	−0.016%	$136K	$550K	10x	as long as short
Popdex WIFUSDTlong	+0.0096%	1h	0.2434	long leg	$54K	$483K	20x
Hyperliquid WIF	+0.0100%	1h	0.2437	+0.123%	$7.6M	$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	0.2434	−0.017%	$25K	$255K	10x	as long as short
Pacifica WIF	+0.0100%	1h	0.2433	−0.035%	$77K	$49K	5x	as long as short
Binance WIFUSDT	+0.0100%	4h	0.2434	−0.015%	$18.1M	$101.2M	75x	as long as short
Bybit WIFUSDT	+0.0100%	4h	0.2432	−0.090%	$16.9M	$35.2M	50x	as long as short
OKX WIF-USDT-SWAP	+0.0100%	4h	0.2431	−0.123%	$6.1M	$31.5M	50x	as long as short
Gate WIF_USDT	+0.0100%	4h	0.2433	−0.041%	$1.2M	$7.0M	50x	as long as short
MEXC WIF_USDT	+0.0100%	4h	0.2434	0.000%	$22.1M	$10.7M	50x	as long as short
Bitget WIFUSDT	+0.0100%	4h	0.2434	0.000%	$7.5M	$11.7M	50x	as long as short
BingX WIF-USDC	+0.0100%	4h	0.2430	−0.164%	—	$2.3M	—	as long as short
Variational Omni WIF	+0.0100%	4h	0.2420	−0.568%	$72K	$68K	—	as long as short
GRVT WIF_USDT_Perpshort	+0.0100%	4h	0.2429	−0.205%	$277K	$1.8M	10x
ApeX Omni WIFUSDT	+0.0100%	1h	0.2429	−0.205%	$43K	$618K	25x	as long as short
SunX WIF-USDT	+0.0100%	4h	0.2421	−0.534%	$1K	$2.8M	50x	as long as short
SoDEX WIF-USD	+0.0100%	1h	0.2433	−0.049%	$554	$5K	5x	as long as short
HTX WIF-USDT	+0.0100%	4h	0.2420	−0.575%	$168K	$719K	75x	as long as short
Extended WIF-USD	+0.0104%	1h	0.2433	−0.041%	$10K	$153K	25x	as long as short
Aevo WIF-PERP	+0.0104%	1h	0.2433	−0.041%	$81K	$85	3x	as long as short
GMX WIF/USD [WBTC.b-USDC]	L +0.0235% / S −0.1345%	1h	0.2433	−0.048%	$4K	—	100x	as long as short
Coinbase International WIF-PERP-INTX	+0.0264%	1h	0.2429	−0.205%	$319K	$2.3M	50x	as long as short
BloFin WIF-USDT	+0.0340%	4h	0.2420	−0.575%	$974K	$713K	75x	as long as short
Kraken Futures PF_WIFUSD	+0.0372%	1h	0.2430	−0.177%	$635K	$2.1M	50x	as long as short
Reya WIFRUSDPERP	+0.0558%	1h	0.2433	−0.055%	$0	—	15x	as long as short